Past its peak? Battered oil demand faces threat from electric vehicles
Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but auto makers are betting the crisis will help accelerate an electric future.
Mitsubishi Motors to cut costs after slump in annual profit
Mitsubishi Motors Corp will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend.
Factbox: House cleaning at Thyssenkrupp could start M&A wave
Steel-to-submarines conglomerate Thyssenkrupp has changed the structure of its sprawling empire, splitting operations into three categories as it seeks to simplify the business, stop cash burn and revive its battered share price.
Wall Street set to retreat as Home Depot results weigh
U.S. stock index futures eased on Tuesday, handing back gains from the S&P 500’s best day in six weeks in the previous session, as disappointing results from Home Depot weighed on sentiment.
Home Depot misses profit estimates after handing out virus-related bonuses
Home Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent heavily to compensate employees working at its stores during the COVID-19 pandemic.
JPMorgan hands out $30 billion in loans to small businesses: memo
JPMorgan Chase & Co has given out more than $30 billion in loans to over 250,000 businesses as part of the United States’ coronavirus aid program for small businesses, Chief Executive Officer Jamie Dimon said in a memo on Tuesday.
Deutsche Boerse chief says plans to fulfil his term as CEO
Deutsche Boerse Chief Executive Theodor Weimer said on Tuesday that he planned to complete his term through the end of 2024 at the helm of the stock exchange operator.
EU recovery fund should support aerospace sector: France’s Le Maire
The aerospace industry should be among the sectors that can tap a planned European recovery fund, French Finance Minister Bruno Le Maire said on Tuesday.
‘Nothing off-limits’: Thyssenkrupp could sell steel business in historic shift
Thyssenkrupp could sell most of its steelmaking division, its CEO said on Tuesday, marking a historic reversal in strategy for the German conglomerate which has built its 200-year-old legacy as an industrial champion on the business.
Oil gains on signs of output cuts, improved demand
Oil prices rose slightly on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
