PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.
H&M , the world’s second-biggest fashion retailer, said local currency sales had tumbled 57% since the start of March compared with a year ago as the COVID-19 pandemic and lockdowns kept most of its stores closed.
British clothing retailer Next said on Thursday it plans to open its first standalone beauty shops by taking space in five former Debenhams stores, seeking to diversify its offer into faster growing markets.
Global sales of luxury goods are expected to slump by 50% to 60% in the second quarter even as some countries begin to ease coronavirus lockdowns and despite signs of recovery in the Chinese market, consultancy Bain said on Thursday.
Top news and what to watch in the markets on Thursday, May 7, 2020. …read more […]
The owner of British Airways, Iberia, Vueling and Aer Lingus must cut costs across the board to weather the coronavirus crisis as air travel won’t return to normal until at least 2023, its chief executive Willie Walsh said on Thursday.
The chief executive of British Airways-owner IAG Willie Walsh said on Thursday that his personal was that the airline group should continue to have a presence at London’s Gatwick Airport.
Qatar Airways is in talks with banks for loans worth billions of dollars, three sources familiar with the matter said, as the state-owned airline readies to begin rebuilding its network that has been crushed by the coronavirus pandemic.
Italy’s government will inject fresh capital worth at least 3 billion euros ($3.24 billion) in the ailing carrier Alitalia, which is being nationalised following financial problems, Industry Minister Stefano Patuanelli said on Thursday.
World shares climbed on Thursday after Chinese exports proved far stronger than even bulls had imagined, while bond investors were still daunted by the staggering amount of U.S. debt set to be sold and a tussle over ECB bond buying.
Swedish fashion retailer H&M said on Thursday its sales tumbled 57% from a year ago in local currencies during the March 1 to May 6 period as the novel coronavirus pandemic and restrictions to curb it kept most of its stores closed.
GlaxoSmithKline said on Thursday it sold its stake in Unilever’s Indian business for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India.
Anheuser-Busch InBev , the world’s largest beer maker, forecast a “materially worse” second quarter as coronavirus restrictions curb drinking across the globe, although China was showing early signs of recovery.
(Bloomberg) — British Airways parent IAG SA tapped U.K. government-backed loans to boost liquidity, in a sign of the damage wrought by the coronavirus on even the industry’s strongest players.IAG accessed 300 million pounds ($371 million) from the Coronavirus Corporate Finance Facility in the second week of April, it said Thursday, taking state-supported funding to $1.45 billion including Spanish backing. The group, which initially signaled it wasn’t seeking aid, said it’s essentially grounded until July, when it’ll start restoring flights.Chief Executive Officer Willie Walsh said London-based IAG needs to restructure in all areas as it slims down for a tougher …read more […]
World food prices fell for a third consecutive month in April, hit by the economic and logistical impact of the coronavirus pandemic, the United Nations food agency said on Thursday.
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