Britain’s mid-sized banks coping with coronavirus, but warn of pain ahead
A slew of Britain’s mid-sized banks on Wednesday reported steady deposits and demand in the face of the COVID-19 pandemic, but warned it was too early to assess the long-term damage of the outbreak to their businesses.
Turkish Airlines plans to resume limited flights in June: draft
Turkish Airlines plans a gradual resumption of flights from June and will take four months to return to near full operation, a draft plan seen by Reuters showed, as the economy reopens following a slowdown in coronavirus cases.
BMW cuts outlook, sees coronavirus pain lasting all year
BMW AG expects the coronavirus pandemic to hit demand and earnings throughout this year, prompting the German automaker to cut its profitability forecast for passenger cars following a drop in first-quarter deliveries.
Hapag-Lloyd seeks savings to offset coronavirus losses: CEO
German container line Hapag-Lloyd is to implement cost cuts to take account of the coronavirus crisis, its chief executive Rolf Habben Jansen said on Wednesday.
Allianz aims to maintain dividend amid coronavirus outbreak, CEO says
The chief executive of German insurance giant Allianz said on Wednesday that 2020 will not be another record earnings year but that the company aims to maintain its dividend as it deals with the wrath of the coronavirus outbreak.
World shares subdued amid mixed earnings; oil falters
Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets.
Samsung heir Lee apologises over succession, won’t hand control to children
Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.
UK watchdog deems Shell’s ‘drive carbon neutral’ ad campaign acceptable
A Royal Dutch Shell advertising campaign promising customers they can “drive carbon neutral” has been deemed acceptable under Britain’s advertising rules following an investigation, regulators said on Wednesday.
VW sees multi-speed coronavirus rebound led by China
Volkswagen sees demand rebounding in China, helped by new buyers switching from public transport and sales of premium vehicles, but warned business would not recover from the coronavirus crisis as quickly in other parts of the world.
BMW to delay Hungary plant in coronavirus savings drive
BMW will put investments on hold as it seeks to conserve cash to counter a fall in demand caused by the spread of the coronavirus pandemic, Chief Financial Officer Nicolas Peter said on Wednesday.
