Luckin Coffee shares crash on delisting risk
Shares in Luckin Coffee Inc slumped almost 40% to a record low in premarket trade on Wednesday, as they resumed trading after more than a month’s halt and a day after the Chinese coffee chain said it received a delisting notice from Nasdaq .
JetBlue, United Airlines take more steps to counter coronavirus spread
JetBlue Airways Corp and United Airlines Holdings Inc announced fresh safety measures on Wednesday aimed at restoring confidence in travel that has been crushed by the coronavirus pandemic.
German court ends diesel case against Volkswagen CEO, Chairman
A German court said on Wednesday it was ending proceedings against the chairman and chief executive of Volkswagen AG after the carmaker agreed to pay a fine of 9 million euros ($9.9 million) over the diesel emissions scandal.
Wall Street set to rise as investors hold out for recovery
Wall Street was set to open sharply higher on Wednesday as investors clung to hopes of a recovery from a coronavirus-fuelled slump amid signs of more stimulus for ailing sectors, while retailer Lowe’s jumped on upbeat quarterly results.
U.S. Senator Rubio: Consensus seen to give companies more time for PPP loans
There appears to be agreement in Washington to give companies more time to utilize their coronavirus aid under the Paycheck Protection Program, the head of the U.S. Senate’s small business committee said on Wednesday.
SoftBank-backed Ola follows Uber with job cuts as revenue sinks
SoftBank Group-backed Indian ride-hailing company Ola will cut 1,400 jobs, or about 35% of its workforce, as it navigates a strict coronavirus lockdown that has halted 95% of its business, company chief Bhavish Aggarwal told employees on Wednesday.
Norwegian Air’s lessors take majority ownership
Lessors including AerCap and BOC Aviation are now the biggest shareholders in Norwegian Air after the budget carrier completed a debt restructuring and secured a long-sought credit guarantee from Norway’s government.
Stocks gain as vaccine rally falters
Global stocks rose on Wednesday as investors regained hopes of recovery from a coronavirus-fuelled recession, while oil prices also strengthened.
Target’s coronavirus-led online sales surge comes at heavy costs
Target Corp’s quarterly online sales surged 141% due to panic buying in the coronavirus crisis, the retailer said on Wednesday, driving results past Wall Street expectations even as its operational costs soared.
Delta CEO: More summer flights seen as U.S. travel slowly rises
Delta Air Lines Inc is likely to increase capacity this summer by adding flights in June and July as U.S. domestic travel slowly picks up amid the novel coronavirus pandemic, its chief executive officer said on Wednesday.
