J. Crew files for bankruptcy protection
J. Crew Group Inc filed for bankruptcy protection on Monday, adding to an array of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the coronavirus pandemic.
Mastercard promotes Mark Barnett to European president role
Mastercard has promoted Mark Barnett to the role of president of its European business, responsible for the payment giant’s strategy and operations across 53 countries.
UK watchdog investigates EY audit of NMC Health
Britain’s accounting regulator said it has opened an investigation into EY’s audit of NMC Health, the troubled hospital operator that was placed into administration in April.
Oil prices fall on demand concerns, U.S.-China trade tension
Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and U.S.-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
Norwegian Air’s shareholders to vote on pivotal rescue plan
Norwegian Air’s shareholders began a pivotal meeting on Monday to vote on a plan to convert debt into equity and raise more cash that could determine whether the budget carrier survives the coronavirus pandemic.
Telefonica confirms talks to merge Britain’s O2 and Virgin Media
Spain’s Telefonica SA confirmed on Monday it has opened talks with billionaire John Malone’s Liberty Global Plc over a possible merger of the two companies’ businesses in Britain.
EU clears 7 billion euros in state aid for Air France
The European Union’s competition watchdog on Monday approved French state aid worth 7 billion euros ($7.66 billion) for Air France , saying the support would provide cash to soften the economic shock of the coronavirus pandemic.
Britain’s Hotel Chocolat bolsters finances to get through coronavirus crisis
British chocolatier Hotel Chocolat has increased its banking facilities to help get it through the coronavirus crisis, it said on Monday.
Norwegian Air says lessors support rescue ahead of shareholder vote
Norwegian Air has won “strong support” from aircraft lessors for its plan to convert debt into equity, the carrier said on Monday, as shareholders prepared to cast their vote on the scheme in a meeting set to begin at 0630 GMT.
India’s Reliance to sell $750 million stake in unit to Silver Lake, on track to cut debt
India’s Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc , boosting its efforts to cut debt.
