Novartis posts first-quarter sales, profit beat as COVID-19 spurs prescriptions
Swiss drugmaker Novartis reported rising first-quarter sales and profit that beat analyst expectations and confirmed its 2020 targets as the coronavirus pandemic prompted patients to stock up on their prescriptions in advance.
Germany agrees on Lufthansa rescue package worth 9 billion euros: Business Insider
Germany has agreed to help airline Lufthansa with a rescue package worth about 9 billion euros ($9.74 billion) in return for a blocking minority and one or two supervisory board mandates, Business Insider cited company sources as saying.
With virus war still raging, Fed peers out of the foxhole
The Federal Reserve has two core jobs assigned by Congress: Foster maximum employment and stable prices.
UBS posts 40% first-quarter net profit rise as transaction levels jump
The world’s largest wealth manager, UBS , reported a 40% increase in first-quarter net profit on Tuesday, as clients increased trading activity during market turmoil sparked by the coronavirus outbreak and as it extended more loans to its wealthy clien…
Mirae Asset says sued after deadline miss on $5.8 billion Anbang U.S. hotels deal
South Korean asset manager Mirae Asset Global Investments has been sued over a $5.8 billion deal to buy 15 U.S. hotels from China’s Anbang Insurance Group after missing a deadline for the deal’s closing, a Mirae spokesman said on Tuesday.
Oil prices dive as world runs low on storage capacity while demand plunges
Oil prices slumped again on Tuesday amid concern about dwindling crude storage capacity worldwide and fears that fuel demand may only recover slowly once countries ease curbs imposed on economic and social activity to combat the coronavirus pandemic.
HSBC first-quarter profit halves on increased loan loss provisions due to coronavirus crisis
HSBC Holdings PLC’s first-quarter profit nearly halved from a year-ago, missing estimates, after boosting provisions against bad loans as the coronavirus pandemic hits borrowers worldwide.
U.S. wireless firms extend concessions for coronavirus-hit till June 30
Major U.S. wireless firms said on Monday they will extend a commitment through June 30 not to cancel service or charge late fees to customers who have been impacted by the coronavirus pandemic.
Asian shares fall on fresh rout in crude prices
Asian shares and U.S. stock futures dipped into the red on Tuesday, erasing earlier gains as a renewed decline in oil prices overshadowed optimism about the easing of coronavirus-related restrictions seen globally.
Oil prices tumble as world’s storage tanks fill up amid demand shock
Oil prices slumped on Tuesday, extending the previous session’s slide, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased.
