Luckin Coffee sacks CEO, COO for alleged fraud
Chinese coffee chain Luckin Coffee Inc fired its chief executive and chief operating officers following an internal probe on fabrication of annual sales numbers, the company said on Tuesday.
Truck maker Volvo ditches dividend payment amid COVID-19 crisis
Swedish truck maker Volvo will withdraw its proposed dividend for 2019, it said on Tuesday, joining a slew of firms opting not to make payments to shareholders because of the coronavirus crisis.
Stock market rally pauses, bonds edge higher as economy partly reopens
World equity markets were little changed and safe-haven bonds climbed on Tuesday as investors weighed stronger economic data from China and upbeat corporate earnings in Europe against concerns about a potential second wave of coronavirus infections as …
S&P 500 subdued on risks linked to reopening of economy
The S&P 500 struggled for direction on Tuesday as the risks of reopening the economy too soon overshadowed hopes of a jump-start to a battered global economy, following an easing of virus-led business shutdowns.
U.S. Congress presses bank regulators on coronavirus assistance, oversight
Lawmakers pressed U.S. regulators on Tuesday on their efforts to help struggling consumers, oversight of massive federal bailout packages and regulatory easing as they appeared before Congress for the first time since the novel coronavirus outbreak.
BOC Aviation scoops up deals with airlines in sector’s biggest crisis
Armed with strong funding, Asian lessor BOC Aviation has struck an estimated $5.5 billion of deals with carriers including Southwest and United Airlines to buy and lease back aircraft as the sector faces its deepest ever crisis.
Trump wants California to let automaker Tesla reopen assembly plant
U.S. President Donald Trump on Tuesday urged that Tesla Inc be allowed to reopen its electric vehicle assembly plant in California, joining CEO Elon Musk’s bid to defy county officials who have ordered it to remain closed.
Luckin Coffee terminates CEO, COO amid accounting probe
Luckin Coffee Inc has fired its chief executive and chief operating officers following an internal probe on fabrication of annual sales numbers, the Chinese coffee chain said https://bit.ly/3cD4jLC in a filing on Tuesday.
Boeing sees zero orders again in April, MAX cancellations mount
Boeing Co recorded zero orders for the second time this year in April and customers canceled another 108 orders for its grounded 737 MAX plane compounding its worst start to a year since 1962.
U.S. consumer prices post largest decrease since 2008
U.S. consumer prices dropped by the most since the Great Recession in April, weighed down by a plunge in demand for gasoline and services including airline travel as Americans stayed home during the coronavirus crisis.
