Airbus is looking to hold underlying jet output at 40% below pre-pandemic plans for two years, an approach which adds new pressure to cut thousands of jobs, industry sources said.
New orders for U.S.-made goods plunged in April, suggesting business spending remained depressed early in the second quarter amid the COVID-19 pandemic.
Warner Music Group Corp said on Wednesday it raised $1.93 billion in the biggest U.S. initial public offering (IPO) so far in 2020, with the world’s third-largest recording label selling more shares than originally planned.
Oil fell after touching its highest since March at more than $40 a barrel on Wednesday as doubts emerged about the timing and scale of a potential extension to the oil supply pact between OPEC and its allies.
President Donald Trump’s administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the matter told Reuters.
Accelerating Revenues in AR, Virtual Events & Ecomm NEW YORK and TORONTO, June 03, 2020 — NexTech AR Solutions (the “Company” or “NexTech”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, […]
U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy’s recovery from the COVID-19 pandemic will be slow.
(Bloomberg) — A formerly cautious analyst at SVB Leerink has changed his tune on the potential sales of Gilead Sciences Inc.’s Covid-19 treatment, remdesivir.Even bullish Wall Street analysts have been critical of Gilead’s chances of making a profit from the treatment, which received an emergency use designation from U.S. regulators in May. Public advocates have argued against drug and vaccine makers making any profit from the global pandemic but SVB Leerink analyst Geoffrey Porges is now forecasting that sales of remdesivir may reach $7.7 billion in 2022.Less than two months ago, Porges had said investors were giving a “generous amount …read more […]
OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to deepen their cuts, OPEC+ sources told Reuters.
President Donald Trump’s administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the matter told Reuters.
President Donald Trump’s administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the matter told Reuters. The move, set to be announced on Wednesday, penalizes China after Beijing failed to comply with an existing agreement on flights between the world’s two largest economies. The restrictions are expected to take effect on June 16 but the date could be moved up by Trump, the people briefed on the matter said, speaking on condition …read more […]
In the new reality of COVID-19, some Americans may still be willing to travel abroad – but they’re going to make sure they’re insured up to the hilt.
The Canadian company, known for its pricey red parkas worn by everyone from Arctic scientists to Hollywood celebrities, suffered a big hit to sales as fashion capitals across Europe, Asia and North America effectively shut down through much of March and April to help curb the spread of the virus. Canada Goose also said shipments to department stores have been largely shutoff since March due to coronavirus-led restrictions. …read more […]
The Aerie brand recorded a revenue decline of 2%, compared with a 28% rise a year ago. Revenue at the American Eagle label fell 45% during the quarter. American Eagle also said its net loss stood at $257.2 million, or $1.54 per share, compared with a profit of $40.8 million, or 23 cents per share, a year earlier, mainly due to an impairment charge of about $156 million related to COVID-19-induced closures of 272 stores. …read more […]
U.S. stocks opened higher on Wednesday as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing civil unrest in the country.
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