GE’s coronavirus troubles likely to hit power business, not just aviation
Quarantines and lockdowns at large U.S. power plants are threatening to squeeze a multibillion-dollar slice of revenue that General Electric Co is counting on to help lift profits.
Imperial’s premium cigar era draws to a close in $1.33 billion sale
Imperial Brands is withdrawing from the premium cigar business to focus on vaping, with a 1.23 billion euro ($1.33 billion) sale of hand-rolled makes including Cohiba and Montecristo which will help it pay down debt.
Alibaba demotes top executive after probe into behaviour: source
Chinese e-commerce giant Alibaba Group Holding Ltd has demoted Jiang Fan, one of its most senior executives, after an internal investigation into allegations of improper behaviour, according to a person familiar with the matter.
U.S. banks, small businesses brace for lending race re-run
U.S. banks were girding on Monday for another chaotic dash to grab $310 billion in fresh small business aid due to be released by the government on Monday, after it changed some of the rules of the first-come-first-served scheme at the 11th hour.
Explainer: U.S. payroll protection program: What has changed in round two?
The Small Business Administration (SBA) on Monday will release $310 billion in funds for the second round of its program that aims to help small businesses hurt by the novel coronavirus disruption to cover their payroll costs.
Lufthansa should be supported but not nationalised: Bavarian premier
The German government should support Lufthansa as it tackles the coronavirus crisis but the flagship carrier should not be nationalised, Bavarian State Premier Markus Soeder said on Monday.
U.S. health insurers benefit as elective care cuts offset coronavirus costs
As Americans delay elective surgeries and avoid doctors and hospitals during the coronavirus pandemic, healthcare spending declines have more than offset the added costs of COVID-19 care, insurance executives and experts say, boosting U.S. health insur…
EasyJet calls shareholder meeting under pressure from founder Stelios
Britain’s easyJet said it will hold a general meeting of investors on May 22 to consider resolutions put forward by its biggest shareholder and founder Stelios Haji-Ioannou, who opposes the airline’s strategy of buying more planes.
Futures gain as more states prepare to ease lockdowns
U.S. stock index futures rose on Monday as more states looked set to lift coronavirus-induced curbs, with investors also turning to quarterly earnings reports from marquee companies including Apple and Microsoft later this week.
Adidas says worse to come as profits and sales plunge
Adidas warned of an even bigger hit to second-quarter sales and profits from coronavirus lockdowns, after the German sportswear firm reported first-quarter earnings were almost wiped out and said it had not yet seen a full rebound in China.
