U.S. new home sales unexpectedly rise in April
Sales of new U.S. single-family homes unexpectedly rose in April, but the gains are likely temporary as the coronavirus crisis ravages the economy, unleashing record unemployment.
U.S. consumer confidence edges up in May
U.S. consumer confidence nudged up in May, suggesting the worst of the novel coronavirus-driven economic slump was probably in the past as the country starts to reopen, but it would probably take a while to fully dig out of the hole amid record unemplo…
Merck to buy Austrian vaccine maker as it jumps into COVID-19 race
Merck & Co Inc , which has largely kept to the sidelines of the race for COVID-19 treatments, said it was buying Austrian vaccine maker Themis Bioscience and would collaborate with research nonprofit IAVI to develop two separate vaccines.
Lithium producers must wait as pandemic slows electric vehicle revolution
The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets.
Fears of coronavirus second wave prompt flu push at U.S. pharmacies, drugmakers
U.S. pharmacy chains are preparing a big push for flu vaccinations when the season kicks off in October, hoping to curb tens of thousands of serious cases that could coincide with a second wave of coronavirus infections.
UK’s John Lewis plans ‘phased’ re-opening of department stores
British retailer John Lewis Partnership said on Tuesday it will re-open its department stores on a “phased basis” after the government said non-essential retail could re-open from June 15.
Lufthansa hopes for speedy EU nod for bailout: sources
Lufthansa is hoping for a quick nod from the European Commission for its 9 billion euro ($9.8 billion) bailout agreed on Monday to make sure the cash arrives in time for the company to stay afloat.
LATAM becomes largest airline driven to bankruptcy by coronavirus
LATAM Airlines Group , the continent’s largest carrier, filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic.
Investment bank Moelis in talks to represent Latam bondholders in bankruptcy- source
Investment bank Moelis & Co is in talks with a group owning around $3 billion in bonds and loans owed by Latam Airlines Group SA to represent them in the company’s bankruptcy, one source with knowledge of the matter said on Tuesday.
Warner Music kicks off $1.8 billion Nasdaq IPO
Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the COVID-19 pandemic put many deb…
