Texas auto dealer Hayden Elder says March was his worst month in 42 years selling cars thanks to the coronavirus, but April brought days that were “almost normal” and he expects bigger customer discounts to help him sell more Dodge Ram pickup trucks this month.
European stock markets and oil prices fell on Monday as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets.
‘I wouldn’t normally talk about it, but I think it requires an explanation, and it requires an explanation that means we were not disappointed at all in the businesses that were being run and the management, but we did come to a different opinion on it,’ Buffett said on Saturday. …read more […]
After growing rapidly to become Europe’s third-largest low-cost airline and one of the few to apply the budget model to transatlantic flights, Norwegian Air is fighting for its survival after racking up debts and liabilities of close to $8 billion by the end of 2019.
Maybe Warren Buffett was right to dump a bunch of stock in April. …read more […]
Peugeot carmaker PSA , one of many car companies around the world to have been hit hard by the coronavirus, said on Monday that it would gradually restart production at sites over the course of this week.
Romanian carmaker Dacia, owned by France’s Renault and Ford Motor Co’s Craiova plant resumed operations on Monday after output was halted due to the coronavirus pandemic in March, they said.
Sad piano chords, somber shots of empty streets and close-ups of people staring out their windows. So prevalent were coronavirus-themed ads that followed a similar template just a few weeks ago, they were parodied in a YouTube compilation video: “Every COVID-19 Commercial is Exactly the Same.”
Walt Disney Co’s acquisitions spree that included swallowing much of Rupert Murdoch’s 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world’s most powerful entertainment machine.
Walt Disney Co’s acquisitions spree that included swallowing much of Rupert Murdoch’s 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world’s most powerful entertainment machine. With sports leagues dormant, Disney’s ESPN cable channel has resorted to showing reruns of old games and fringe programming like stone-skipping competitions. “Disney has a bull’s eye on its back like no other media company,” Bank of America Merrill Lynch analyst Jessica Reif Ehrlich said in an interview. …read more […]
Factory activity was ravaged across the world in April, business surveys showed, and the outlook looked bleak as government lockdowns to contain the new coronavirus pandemic froze global production and slashed demand.
Nissan Motor Co Ltd will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new strategic direction for the embattled carmaker, people with direct knowledge of the plan told Reuters.
J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic.
Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners.
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