KFC parent Yum says April sales improving after virus hits Q1
Yum Brands Inc said on Wednesday sales in April showed signs of improvement as stay-at-home consumers ordered in more and diners returned to restaurants after certain countries started to ease restrictions.
BP donates jet fuel in U.S. to help with COVID-19 relief
BP is donating 3 million gallons of jet fuel to FedEx and Alaska Airlines [ALKAIR.UL] to help with the distribution of personal protective equipment in the battle against the new coronavirus.
EU clears French 5 billion euro loan guarantee to Renault
The European Commission approved on Wednesday a 5 billion euro ($5.4 billion) loan guarantee to carmaker Renault group to mitigate the impact of the coronavirus crisis.
Lufthansa to get financial support from Switzerland and Austria
Switzerland and Austria pledged to help Lufthansa with state-backed loans as the German airline pursues talks with Berlin over a 9 billion euro ($9.8 billion) rescue package.
White House adviser sees ‘cash’ phase of economic rescue winding down
With the U.S. economy poised for a sharp rebound, it is time for policy to move from a “cash” rescue phase to focus on more long-term measures that can underpin growth, a top White House adviser said on Wednesday.
China committed to Phase 1 trade deal despite pandemic: U.S. official
China remains “very, very committed” to meeting its commitments under a Phase 1 trade deal with the United States, despite the unprecedented economic and health impacts of the new coronavirus outbreak, a senior U.S. trade official said on Wednesday.
British Airways owner bets on costs not bailouts to survive
A plan to axe up to 12,000 jobs at IAG’s British Airways underlines CEO Willie Walsh’s desire to survive what is expected to be aviation’s worst downturn without a state bailout.
Shares gain after encouraging COVID-19 drug data, oil jumps
A gauge of global stocks climbed on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices surged.
COVID-19 has ‘changed everything’, RBS Chairman says
Royal Bank of Scotland chairman Howard Davies said on Wednesday the coronavirus pandemic had “changed everything” and its impact on society and the economy would likely be “stark and long-lasting”.
Swiss government works with UBS, Credit Suisse on aviation sector loans
The Swiss government is working primarily with UBS Group and Credit Suisse on a nearly 1.9 billion Swiss franc ($1.95 billion) package of state-backed loans for the coronavirus-hit aviation sector, it said on Wednesday.
