Profit at BNP Paribas fell by 33.1% in the first-quarter as the coronavirus crisis hit equity trading and prompted the eurozone’s biggest bank to set aside more than half a billion euros in loan provisions.
Philippine President Rodrigo Duterte has apologised for his “hurting words” about two tycoons whom he openly dislikes, responding to their help in fighting the coronavirus by offering an olive branch to settle a costly regulatory row.
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.
Boeing Co sees mass production of its unmanned, fighter-like jet developed in Australia likely happening by the middle of the decade, an executive said on Tuesday, as it rolled out the first of three prototypes. “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, told reporters. Royal Australian Air Force (RAAF) Air Vice-Marshal Catherine Roberts said the Loyal Wingman’s role could include carrying weapons in combat and protecting assets like the E-7A Wedgetail early warning and control aircraft as well …read more […]
Hertz Global Holdings Inc. (NYSE: HTZ) dropped nearly 24% in after-hours trading on Monday as multiple reports suggested the company is nearing a bankruptcy filing.What HappenedThe car rental company has hired an additional advisor to help prepare for a planned bankruptcy filing, according to The Wall Street Journal.FTI Consulting Inc. was engaged by Hertz to advise on streamlining operations ahead of a possible chapter 11 filing after it missed a deadline on a debt payment last week, people familiar with the matter told WSJ.The Florida-based company previously tapped on investment bank Moelis & Company (NYSE: MC) and law firm White …read more […]
United Airlines Holdings Inc plans to cut at least 3,400 management and administrative positions in October as the coronavirus pandemic crushes air travel demand, and has told pilots to brace for changes as well, according to two memos seen by Reuters.
Qantas Airways Ltd said on Tuesday it had secured enough funding to last it through the end of next year, boosting its shares, as it reviews its fleet with the expectation that most international travel could take years to rebound.
(Bloomberg) — Carson Block is predicting a plunge in stocks after they roared back from the coronavirus sell-off in March.“The direction has to be sharply downward,” the renowned short seller and founder of Muddy Waters Capital said in a phone interview.Block finds it hard to believe that equities are trading at their current valuations even though demand has been “crushed” by the pandemic and isn’t likely to recover anytime soon. “It makes no sense,” he said.After crashing into a bear market at its fastest pace on record, the S&P 500 Index has advanced about 27% from its March low. The …read more […]
Apple Inc on Monday capitalized on the Federal Reserve’s emergency measures in response to the coronavirus outbreak to issue its cheapest bonds in years, making it the latest blue-chip company to do so to fund stock buybacks and dividends.
Apple Inc on Monday capitalized on the Federal Reserve’s emergency measures in response to the coronavirus outbreak to issue its cheapest bonds in years, making it the latest blue-chip company to do so to fund stock buybacks and dividends. Apple’s offering illustrates how companies with the best credit ratings are boosting shareholder returns by tapping cheap debt made available through the Fed’s backstopping of the credit markets. Apple shares are virtually flat year-to-date, compared with a 12% drop in the S&P 500 Index . …read more […]
Apple Inc on Monday capitalized on the Federal Reserve’s emergency measures in response to the coronavirus outbreak to issue its cheapest bonds in years, making it the latest blue-chip company to do so to fund stock buybacks and dividends. Apple’s offering illustrates how companies with the best credit ratings are boosting shareholder returns by tapping cheap debt made available through the Fed’s backstopping of the credit markets. Apple shares are virtually flat year-to-date, compared with a 12% drop in the S&P 500 Index . …read more […]
NEW YORK Reuters) – A late Wall Street rally is expected to lead Asian stocks higher on Tuesday after tech shares and oil rose on easing coronavirus restrictions and prospects of an economic recovery, overcoming concerns about renewed Sino-U.S. trade tensions.
Boeing Co sees mass production of its unmanned, fighter-like jet developed in Australia likely happening by the middle of the decade, an executive said on Tuesday, as it rolled out the first of three prototypes. “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, told reporters. Royal Australian Air Force (RAAF) Air Vice-Marshal Catherine Roberts said the Loyal Wingman’s role could include carrying weapons in combat and protecting assets like the E-7A Wedgetail early warning and control aircraft as well …read more […]
Qantas Airways said on Tuesday it would extend flight cancellations into June and July, and added that it secured further debt funding that should support the airline through to the end of 2021 if the coronavirus crisis prolongs.
United Airlines Holdings Inc has told employees that it expects its management and administrative ranks to be around 30% smaller starting in October, according to a company memo seen by Reuters.
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