Airbus in talks with French state over possible aid: CEO
European planemaker Airbus is in talks with the French state regarding possible aid for the company, one of many in the transport sector to have been hit hard by the coronavirus crisis, said Airbus Chief Executive Guillaume Faury on Thursday.
Shell cuts dividend for first time since 1940s as oil demand collapses
Royal Dutch Shell cut its dividend for the first time in 80 years and suspended the next tranche of its share buyback programme on Thursday following the collapse in global oil demand due to the coronavirus pandemic.
Reckitt Benckiser posts record sales on disinfectant boom
Reckitt Benckiser Plc on Thursday forecast better than previously anticipated results for 2020 after reporting record quarterly sales growth as customers stocked up on its Lysol disinfectants, Mucinex cough syrup and Dettol soap in coronavirus lockdow…
The devil’s in the detail for junk debt investors facing coronavirus defaults
Before the coronavirus, investors hungry for returns piled into risky corporate loans and bonds with precious little protection for creditors. Now they’re frantically scouring the terms to see just what firms can get away with to survive the fallout.
Nokia first quarter in profit, revenues miss consensus
Nokia Oyj on Thursday reported a 2% fall in first-quarter revenue that missed analysts’ estimates, as it took a hit of about 200 million euros to its topline largely because the COVID-19 pandemic disrupted supply in China.
Carlsberg first-quarter sales down 7%, expects further decline in second quarter
Carlsberg said on Thursday sales fell 7% in the first quarter with a further decline expected this quarter, as increased beer sales in supermarkets failed to balance the closure of bars and restaurants during the coronavirus lockdown.
Virgin Australia has 20 potential buyers, deal seen by June: administrators
Virgin Australia Holdings Ltd’s administrators said on Thursday they had given eight potential buyers access to a data room and were negotiating with another 12 about doing so as they seek to sell the country’s second-biggest airline by end-June.
Wirecard chairman voices support for embattled CEO: report
The chairman of Wirecard’s supervisory board, Thomas Eichelmann, voiced support for the German payments company’s chief executive, Markus Braun, despite controversy over previous months, according to an interview with a German newspaper.
SoftBank writes down WeWork by $6.6 billion, compounding portfolio misery
SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, as the virus compounds woes at one of the firm’s biggest bets.
Oil prices surge over 10% amid early signs of U.S. fuel demand recovery
Oil prices jumped on Thursday, extending steep gains in the previous session on signs the U.S. crude glut is not growing as quickly as expected and that gasoline demand battered by COVID-19 restrictions is starting to pick up.
