Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.
British luxury brand Burberry will continue to maintain base pay for all of its employees who are unable to fulfil their roles because of store or site closures, it said on Friday.
Nestle reported a 4.3% rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Nescafe coffee to prepare for lockdowns caused by the coronavirus pandemic.
Virgin Australia Holdings Ltd owes A$6.9 billion ($4.39 billion) to more than 10,000 creditors based on an initial review and will seek a three-month payment waiver from aircraft lessors, its administrators said.
French drugmaker Sanofi confirmed its 2020 outlook on Friday after posting stronger first-quarter results led by its specialty care unit and demand for its medicines to treat pain and fever in the light of the new coronavirus outbreak. Sanofi said around half of growth in sales and profits was attributable to the coronavirus pandemic adding it expected this effect to fade in the second quarter. …read more […]
Swatch Group’s sales at its own stores in China are up by almost a quarter during April, the watchmaker’s Chief Executive Nick Hayek told Blick newspaper, but the global situation following the coronavirus outbreak remains tough.
Bondholders in particularly hard-hit sectors like energy, travel and leisure have another issue to watch for as companies struggle to survive the economic shutdown – getting demoted by new debt issues.
As the coronavirus crisis gripped the U.S. economy and Congress approved hundreds of billions of dollars in emergency small business loans, Utah builder Clark Ivory knew what to tell his local colleagues.
Oil prices jumped again on Friday, gaining more ground as producers like Kuwait said they would move to cut output and as the United States approved another package to cope with the economic disruption caused by the coronavirus outbreak.
Oil prices jumped again on Friday, gaining more ground as producers like Kuwait said they would move to cut output and as the United States approved another package to cope with the economic disruption caused by the coronavirus outbreak. Brent crude was up $1.07, or 5%, at $22.40 by 0432 GMT, after having climbed 5% on Thursday. U.S. oil gained $1.12, or nearly 7%, at $17.62 a barrel, having surged 20% in the previous session. …read more […]
Several brokerages, including discount giant TD Ameritrade Corp are restricting customers from buying new positions in certain crude oil contracts after an unprecedented sell-off that sent prices below negative-$40 on Monday.
Job losses, pay cuts, extra bills to stockpile groceries all cut into a family’s ability to pay the rent, the car loan and juggle other bills. …read more […]
(Bloomberg) — Hertz Global Holdings Inc. brought in restructuring advisers to rework the rental-car company’s debt amid a bleak outlook for business trips and vacations.Management is seeking advice from restructuring bankers at Moelis & Co. on ways to boost liquidity and avoid filing for Chapter 11 bankruptcy, according to people familiar with the situation.One of the options that has been under discussion with bankers is raising cash by issuing new debt, Bloomberg previously reported. The maneuver would need an amendment to a secured debt facility, the people said, asking not to be identified while discussing a private matter. The situation …read more […]
Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.
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