Samsung heir’s apology meets with skepticism, watchdog panel seeks concrete plan
Samsung Group heir Jay Y. Lee’s vow to end dynastic succession at South Korea’s biggest conglomerate following three generations of Lee family control sparked skepticism on Thursday.
PayPal sees strong second quarter as online spending surges (May 6)
PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.
H&M’s sales tumble, stockpiles grow in March to May
H&M , the world’s second-biggest fashion retailer, said local currency sales had tumbled 57% since the start of March compared with a year ago as the COVID-19 pandemic and lockdowns kept most of its stores closed.
Britain’s Next plans first beauty shops in former Debenhams stores
British clothing retailer Next said on Thursday it plans to open its first standalone beauty shops by taking space in five former Debenhams stores, seeking to diversify its offer into faster growing markets.
Global luxury gloom to deepen despite easing lockdowns: Bain
Global sales of luxury goods are expected to slump by 50% to 60% in the second quarter even as some countries begin to ease coronavirus lockdowns and despite signs of recovery in the Chinese market, consultancy Bain said on Thursday.
British Airways owner IAG must restructure across the board: Walsh
The owner of British Airways, Iberia, Vueling and Aer Lingus must cut costs across the board to weather the coronavirus crisis as air travel won’t return to normal until at least 2023, its chief executive Willie Walsh said on Thursday.
IAG CEO says would like group to continue to have presence at Gatwick
The chief executive of British Airways-owner IAG Willie Walsh said on Thursday that his personal was that the airline group should continue to have a presence at London’s Gatwick Airport.
Qatar Airways in talks with banks for billions of dollars in loans: sources
Qatar Airways is in talks with banks for loans worth billions of dollars, three sources familiar with the matter said, as the state-owned airline readies to begin rebuilding its network that has been crushed by the coronavirus pandemic.
Italy to inject 3 billion euros in new Alitalia: industry minister
Italy’s government will inject fresh capital worth at least 3 billion euros ($3.24 billion) in the ailing carrier Alitalia, which is being nationalised following financial problems, Industry Minister Stefano Patuanelli said on Thursday.
Stocks cheer China trade relief, bonds face debt deluge
World shares rose on Thursday after Chinese exports proved far stronger than even bulls had imagined, while bond investors were still daunted by the staggering amount of U.S. debt set to be sold and a tussle over European Central Bank bond buying.
