Most Asian shares made gains while U.S. stock futures fell on Tuesday amid choppy trade as a renewed decline in oil prices partially offset optimism about the easing of coronavirus-related restrictions.
The oil giant’s income falls as global demand slumps due to the pandemic. …read more […]
Scandinavian airline SAS said on Tuesday it could reduce its workforce by up to 5,000 full-time positions due to plunging demand and travel restrictions during the coronavirus outbreak.
French car hire company Europcar said on Tuesday it was still in talks with the government over obtaining further financing aid.
(Bloomberg) — BP Plc bolstered its financial reserves as the initial stages of the coronavirus pandemic caused its profit to plunge and increased its debt.While earnings were hit hard in the first three months of the year, the worst of the virus-driven crisis is yet to come. The company expects the pandemic to reduce its production and have a material impact on refining in the second quarter.A measure of its indebtedness rose to the highest in more than eight years, underscoring the financial strain resulting from the oil-market collapse. To boost its financial reserves, BP has taken on a new …read more […]
(Bloomberg) — Wirecard AG said an independent audit by KPMG uncovered no need to restate earnings, but added that all the data needed to confirm past revenues could not be obtained. SWirecard hired the accounting firm in October, which has been looking into the payment processor’s third-party partner business, as well as business activities in India and Singapore.In a statement Tuesday, Wirecard said the required data needed to conclusively approve revenues from 2016-2018 is “primarily in the control of third parties.” The company also added that its 2019 accounts will not be released on April 30, due to the Covid-19 …read more […]
Oil prices slumped again on Tuesday amid concern about dwindling capacity to store crude worldwide, heightened by fears that fuel demand may be slow to pick up once countries ease curbs imposed on business and social life to combat the coronavirus pandemic.
British retailer Marks & Spencer said it was planning for a slow return to shopping and had taken steps to shore up its finances for 18 months, including scrapping next year’s dividend, to cope with the impact of the coronavirus crisis
BP’s first quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major’s debt rose sharply as it warned of exceptional uncertainty ahead.
BP’s first quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major’s debt rose sharply as it warned of exceptional uncertainty ahead. “It is difficult to predict when current supply and demand imbalances will be resolved and what the ultimate impact of COVID-19 will be,” BP said in a statement. It said oil and gas production faced “significant uncertainties” linked to plunging oil prices and tumbling demand, as well as due to a deal between OPEC, Russia and other producers to cut global supplies of crude by about 10%. …read more […]
Diageo , the world’s largest spirits maker, launched a $2.5 billion bond offering on Tuesday, weeks after suspending its share buyback programme in response to the coronavirus crisis.
The world’s largest wealth manager, UBS , reported a 40% rise in January-March profit on Tuesday, buoyed by ultra rich clients reshuffling portfolios to cope with the coronavirus outbreak and as a revamp helped its core business to its best quarter since 2008.
Nissan Motor Co on Tuesday said it expected to post an operating loss for the year that ended in March, as an ongoing decline in sales is exacerbated by the coronavirus outbreak.
Scandinavian airline SAS said on Tuesday it would reduce its workforce by up to 5,000 full-time positions, due to the COVID-19 pandemic and its impact on air travel.
Most Asian shares ground higher while U.S. stock futures fell on Tuesday amid choppy trade as a renewed decline in oil prices partially offset optimism about the easing of coronavirus-related restrictions.
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