Airline SAS said on Tuesday it had signed a 3.3 billion Swedish crown ($336 million) three-year revolving credit facility agreement, 90% guaranteed by Sweden and Denmark’s governments, as it looked to beat a path through the coronavirus crisis.
BNP Paribas’ profit fell by a third in the first quarter, as the coronavirus crisis hit equity trading and prompted the euro zone’s biggest bank to set aside more than half a billion euros in loan provisions.
French carrier Air France is to require all passengers on board its flights to wear masks from May 11 to comply with French government guidelines on COVID-19 protection measures.
German fashion house Hugo Boss expects the impact of the coronavirus pandemic to get worse before it gets better after reporting a 17% fall in first-quarter sales, but added that it was seeing signs of a rebound in China and online. The company reported first-quarter sales of 555 million euros ($605.34 million), ahead of average analyst forecasts for 548 million, while its loss before interest and taxation came in at 14 million, worse than average forecasts for 6 million. Hugo Boss, known for its smart men’s suits, said all of its own retail stores and concessions have reopened …read more […]
Europe’s biggest budget airline Ryanair posted a 99.6% fall in passenger numbers in April, while smaller low cost carrier Wizz Air said numbers plunged 97.6%, as the novel coronavirus halted most flying across Europe.
Oakley and Ray-Ban maker EssilorLuxottica reported a slump in first-quarter sales on Tuesday and warned of an even bigger hit in the current quarter as the coronavirus outbreak prompted store closures.
Asian stocks rose on Tuesday, tracking a late Wall Street rally as governments eased coronavirus lockdowns while oil extended gains on expectations fuel demand would begin to pick up.
Hungarian low cost airline Wizz Air said its passenger numbers plunged 98% in April compared to the same month last year as the novel coronavirus halted most flying across Europe.
Activist investor Amber Capital faces its biggest test yet on Tuesday in its high-stakes bid to shake up governance at media and publishing firm Lagardere as shareholders vote on its attempt to revamp the French firm’s supervisory board.
Boeing (BA) anticipates that its unmanned, fighter-like jet- the Loyal Wingman- will reach mass production by 2025, Reuters reports. The company is currently trialing one of three prototypes developed in Australia, aided by $26 million funding from the Australian government. “We are expecting middle of the decade, maybe a bit earlier that this will be in production,” Shane Arnott, the programme director of Boeing’s Airpower Teaming System stated.According to Arnott, “16 of the Loyal Wingman drones could be teamed with a manned aircraft for missions and it [is] on track for its first flight by the end of the …read more […]
Nivea-maker Beiersdorf said on Tuesday its La Prairie premium skincare brand has been hit hard by the drop in international travel due to the coronavirus pandemic but sales of its medicinal creams and plasters jumped.
Starbucks Corp. (SBUX) said it will reopen 85% of its U.S. stores by the end of this week after seven weeks of home-sheltering orders put in place to contain the spread of the coronavirus pandemic.By early June, the U.S. coffee chain expects more than 90% of its stores to be open under modified operations and hours. On March 22, Starbucks had shut down its U.S. and Canadian cafes due to the coronavirus-related lockdown regulations.“We have embraced an approach of monitoring, rapidly adapting to, and even shaping, the “now normal”, Starbucks CEO Kevin Johnson wrote in a letter to employees. “The …read more […]
German fashion house Hugo Boss said it expected the impact of the coronavirus pandemic to be worse in the second quarter after it reported that sales fell a currency-adjusted 17% in the first, but added that it was seeing signs of a rebound in China and online.
Oakley and Ray-Ban maker EssilorLuxottica reported a slump in first-quarter sales on Tuesday and warned of an even bigger hit in the current quarter as the coronavirus outbreak prompted store closures.
Oakley and Ray-Ban maker EssilorLuxottica reported a steep decline in first-quarter sales as the coronavirus prompted store closures.
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