Lufthansa’s supervisory board postponed approval of a 9 billion euro ($9.90 billion) bailout in light of conditions imposed by the European Union, the German airline group said on Wednesday.
Lufthansa’s supervisory board was unable to approve a 9-billion euro ($9.90 billion) bailout in light of conditions imposed by the European Union, the airline group said on Wednesday.
Last week, the Senate passed a bill to take on Chinese companies listed on U.S. stock exchanges. Soon, the rest of Washington appears poised to act. …read more […]
Gilead Sciences (GILD) and Arcus Biosciences (RCUS), an oncology-focused biopharma, have announced a 10-year partnership to co-develop and co-commercialize current and future therapeutic product candidates in Arcus’s pipeline.The agreement will also provide ongoing funding to support Arcus’s research and development programs. On the news GILD shares stayed flat in Wednesday’s pre-market, while RCUS dropped 15%.“We are very pleased to build on Gilead’s growing presence in immuno-oncology,” said Daniel O’Day, CEO of Gilead. “By gaining access to its broad, diverse pipeline and Arcus’s clear strengths in discovery and development, we believe that our partnership with Arcus will significantly accelerate our progress …read more […]
Ralph Lauren Corp posted a bigger-than-expected quarterly loss on Wednesday as stores across the world that sell its jackets, coats and Polo shirts were forced to close due to the COVID-19 pandemic.
The S&P 500 has spent the month of May bouncing in the range between 2,800 and 3,000. While the index remains 11% below its all-time high, there is a cautious sense of optimism, that the worst of the bear market is behind us.Investors may be feeling upbeat, and anticipating a recovery in 2H20, but times are still volatile. To make sense of them, TipRanks offers the Smart Score, a comprehensive tool which analyzes every stock in the TipRanks database according to 8 interrelated factors. The data is measured and collated by sophisticated AI algorithms, and used to generate a single …read more […]
Wall Street’s major indexes were set for another session of gains on Wednesday as a revival in business activity drove hopes of an economic recovery, eclipsing concerns over simmering tensions between the United States and China.
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president’s claims.
Ralph Lauren Corp reported a 15.4% fall in quarterly revenue on Wednesday after its outlets and department stores across the world were forced to close due to the COVID-19 pandemic.
The Americas will bear the brunt of an estimated 305 million job losses that the COVID-19 pandemic will cause worldwide between April and June, the International Labour Organization (ILO) said on Wednesday.
(Bloomberg) — At a factory near Germany’s border with the Czech Republic, Volkswagen AG’s ambitious strategy to become the global leader in electric vehicles is coming up against the reality of manufacturing during a pandemic.The Zwickau assembly lines, which produce the soon-to-be released ID.3 electric hatchback, are the centerpiece of a plan by the world’s biggest automaker to spend 33 billion euros ($36 billion) by 2024 developing and building EVs. At the site, where an East German automaker built the diminutive Trabant during the Cold War, VW eventually wants to churn out as many as 330,000 cars annually. That would …read more […]
Ryanair expects Britain to join other European nations in dropping COVID-19 quarantine plans in the coming weeks, its CEO told Reuters on Wednesday, as he reported a “big surge” in holiday bookings from the country.
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president’s claims.
Greensill Capital said it has dropped a libel suit against Reuters over a story which said that the financing group had provided a false statement to market participants in 2018.
Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong.
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