Carmakers Dacia and Ford resume production in Romania
Romanian carmaker Dacia, owned by France’s Renault and Ford Motor Co’s Craiova plant resumed operations on Monday after output was halted due to the coronavirus pandemic in March, they said.
Disney, hit hard by coronavirus, to face Wall Street questions on impact on company
Walt Disney Co’s acquisitions spree that included swallowing much of Rupert Murdoch’s 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world’s most powerful entertainment machine.
Pandemic slams global factories, activity sinks to new lows
Factory activity was ravaged across the world in April, business surveys showed, and the outlook looked bleak as government lockdowns to contain the new coronavirus pandemic froze global production and slashed demand.
Exclusive: Nissan to retrench further in new plan to focus on U.S., Japan, China
Nissan Motor Co Ltd will pull back from Europe and elsewhere to focus on the United States, China and Japan under a plan that represents a new strategic direction for the embattled carmaker, people with direct knowledge of the plan told Reuters.
J. Crew files for bankruptcy as preppy retailer succumbs to COVID-19 fallout
J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic.
Norwegian Air shareholders back $1 billion rescue plan
Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners.
Telefonica shares rise on O2-Virgin Media merger talks
Shares in Spain’s Telefonica SA rose on Monday to post the only strong gains on an otherwise almost entirely red Madrid index, after the company confirmed it was in talks with billionaire John Malone’s Liberty Global Plc over a possible merger of the…
Stocks fall as U.S.-China tensions threaten rebound
Global stock markets fell on Monday on concerns U.S.-Chinese bickering over the origin of the coronavirus outbreak will ignite a new trade war, speculation that strengthened the dollar and drove gold prices higher.
Norwegian Air’s shareholders vote in favour of rescue plan: DN
Norwegian Air’s shareholders gave their backing on Monday to the company’s financial survival plan, with about 95% of votes cast supporting the conversion of debt into equity, financial daily Dagens Naeringsliv reported on Monday.
HSBC to buy out life insurance joint venture partner in China
HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner’s 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.
