Business News
NMC Health requests delisting from LSE
Troubled hospital operator NMC Health said on Monday it requested its shares be delisted from the London Stock Exchange after they were suspended two months ago.
Month: April 2020
Business News
Australia’s NAB seeks $2.2 billion from investors, slashes dividend as virus halves profit
National Australia Bank Ltd asked investors for A$3.5 billion ($2.2 billion) and slashed its dividend to the lowest in almost three decades, as its first-half profit tumbled in part due to charges associated with the coronavirus pandemic.
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Bayer Will Donate Chloroquine If Drug Can Treat Virus, CEO Says
Apr.27 — Bayer AG raised the specter of “considerable liquidity challenges” as it engages in high-stakes negotiations in the U.S. over claims that the company’s Roundup weedkiller caused cancer. Chief Executive Officer Werner Baumann discusses the challenges facing the drugmaker, and comments on the outlook for trials of its chloroquine Malaria drug as a treatment for Covid-19 patients, in an interview on “Bloomberg Markets: European Open.” …read more […]
Business News
Norwegian Air could soon run out of cash unless debt plan approved
Norwegian Air could run out of cash by mid-May unless its proposed financial rescue plan is approved by creditors and shareholders, the budget carrier warned on Monday.
Business News
UK airlines want coronavirus wage support scheme extended beyond June
Britain’s airlines want the government’s coronavirus wage support scheme to be extended beyond June, maintaining the assistance for longer with a only slow recovery in air travel expected.
Business News
China’s market regulator inspects Luckin Coffee
Luckin Coffee said on Monday China’s State Administration for Market Regulation was carrying out work to understand the coffee chain’s operating situation and added that it was actively cooperating.
Business News
German airline Condor to receive loans worth 550 million euros: government
The German government and the federal state of Hesse have agreed to provide Condor with loans worth 550 million euros ($596.31 million), the economy minister said on Monday, after the owner of Poland’s LOT pulled out of a deal to buy the airline.
Business News
NMC Health to delist from London Stock Exchange
Troubled hospital operator NMC Health on Monday said it requested London Stock Exchange to delist its shares after they remained suspended for two months.
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Busy Week for World’s Biggest Central Banks
Apr.27 — Global central banks remain under pressure to do more to support their economies through the coronavirus recession even after driving interest rates to record lows and pledging to spend trillions of dollars on asset purchases. The U.S. Federal Reserve and European Central Bank both meet this week, following the Bank of Japan which ramped up its stimulus measures on Monday. Arend Kapteyn, global head of economics and strategy research at UBS, comments on the challenge facing policy makers in an interview on “Bloomberg Markets: European Open.” …read more […]
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Europe Starts Stumping Up Billions for Cash-Strapped Airlines
(Bloomberg) — Government bailouts for the European airline industry are taking shape after France and the Netherlands pledged as much as 11 billion euros ($11.9 billion) to save Air France-KLM, and German rival Deutsche Lufthansa AG heads into a crucial week to work out a similar-sized rescue.The lifelines to the region’s two biggest carriers by passenger traffic would come after each warned of impending cash crunches and their inability to survive the effects of the coronavirus pandemic without state help. They join a global chorus of distressed airlines that have grounded fleets, furloughed staff and decried the biggest crisis ever …read more […]
Business News
Holiday Inn-owner taps Bank of England loans as room revenue sinks
Holiday Inn-owner InterContinental Hotels said on Monday it had raised 600 million pounds ($747 million) from Bank of England loans under the government’s coronavirus aid scheme as it estimated a 25% plunge in global revenue per available room in the first quarter.
Business News
Adidas misses forecasts with 93% profit plunge, warns on sales
Adidas reported a 93% plunge in first-quarter profit and sales off 19%, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores.
Business News
Oil prices skid on oversupply, storage capacity fears
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic.
Business News
German companies call for COVID-19 aid to be tied to climate action
German companies including ThyssenKrupp, Salzgitter, Bayer, Covestro, E.ON, HeidelbergCement, Puma, Allianz and Deutsche Telekom have called for coronavirus-related state aid to be tied to climate action, daily Handelsblatt reported.