U.S. Treasury says will be hard for public companies to qualify for coronavirus relief loans
A highly valued public company will have a hard time getting a coronavirus relief loan, the U.S. Treasury said on Thursday, just as Congress was poised to approve a new round of funding for the loans known as the Paycheck Protection Program.
Lufthansa reports first quarter operating loss of 1.2 billion euros
Lufthansa , which has grounded almost all its aircraft due to the coronavirus pandemic, said its operating loss increased to 1.2 billion euros ($1.3 billion) during the first three months of the year and the loss would be considerably higher in the cur…
Repair, abandon, burn: Russia explores options for historic oil cut
In just a week, Russia has to find ways to cut a fifth of its oil output under a deal to tackle the market glut and is looking at all options, including putting wells on repair and maintenance to abandoning them entirely and even burning oil, four oil …
Colombia’s Avianca says survival of the airline is in doubt due to coronavirus crisis
The financial auditors of Colombian airline Avianca Holdings have concluded that “substantial doubt” exists as to the company’s ability to stay in business due to the coronavirus crisis, the carrier said.
Wall Street jumps on hopes worst for labor market is over
Wall Street jumped 1% on Thursday as a third straight decline in weekly jobless claims raised hopes the worst of the coronavirus pandemic’s impact on the labor market was over, while energy stocks zoomed 5% on a rebound in oil prices.
Domino’s pulls long-term forecast, says international sales declining
Domino’s Pizza Inc on Thursday pulled its long-term forecast and said international comparable sales fell 3.2% in the first three weeks of the current quarter as stores remain shut due to the coronavirus pandemic, sending its shares down about 5%.
‘Plain robbery’: Lebanese fume as dollar savings hit by financial crisis
Ziad Abdallah has watched with growing alarm as Lebanon’s financial meltdown has threatened the savings he spent 25 years building up in his dollar account.
Hershey pulls 2020 forecast, warns of weak sales as consumers curb spending
Hershey Co pulled its 2020 forecast on Thursday and warned of weak sales in certain categories as households worried about their financial futures cut spending on snacks and chocolates.
Some Americans going back to work, even as virus erases more jobs
Some workers in Georgia and other U.S. states prepared to go back to work for the first time in a month, as data released on Thursday showing soaring unemployment claims reaffirmed the grim economic toll of the coronavirus pandemic.
Air France-KLM CEO forfeits bonus under Dutch pressure
Air France-KLM Chief Executive Ben Smith said on Thursday he had given up his 2020 bonus, after a Dutch minister urged executive pay restraint in return for the billions of euros in government aid sought by the airline group.
