U.S. bank investors put on mute as shareholder meetings go virtual
Often rowdy and confrontational, this year’s bank shareholder meetings have so far been brief and uneventful as the annual gatherings move online amid U.S. coronavirus lockdowns.
Drowning in crude, U.S. drillers say Trump strategic reserve plan is no lifeline
President Donald Trump’s plan to fill the U.S. emergency crude oil stockpile has become the centerpiece of his administration’s strategy to shield drillers from a meltdown in energy demand – but company officials and industry groups say the program has…
Target’s online sales skyrocket as shoppers stock up from their homes
A surge in online sales for Target Corp in March and April offset the bulk of damage done by coronavirus lockdowns to in-store sales, but its margins continue to suffer along with profit from higher costs, the retailer said on Thursday.
China’s BYD, Toyota’s Hino partner in electric commercial vehicles
Chinese electric vehicle maker BYD said on Thursday it has partnered with Toyota-owned truck maker Hino Motors to develop electric commercial vehicles, as BYD deepens electric collaboration with Japan’s top automaker.
Mideast governments failing to protect airlines: IATA
Middle East governments are failing to take the action required to protect their airlines from the economic crisis caused by the new coronavirus pandemic, the International Air Transport Association (IATA) said on Thursday.
African airlines could lose $6 billion in passenger revenue in 2020: IATA
African airlines could lose $6 billion in passenger revenue in 2020, the International Air Transport Association said on Thursday, as flight restrictions due to the novel coronavirus hit the sector on the continent.
Japanese governor pledges support for Toyota suppliers as production dips
As Toyota prepares to nearly halve production at Japanese factories, a regional governor said on Thursday he would offer 400 billion yen ($3.72 billion) in emergency loans for small and mid-size companies including Toyota’s suppliers.
Adidas plans a multi-billion bond to replace state loan: Manager Magazine
German sportswear firm Adidas plans a multi-billion euro bond so that it no longer needs the state-backed loan it agreed to take earlier this month to help it get through the coronavirus crisis, Manager Magazine reported on Thursday.
U.S. House to pass nearly $500 billion more in coronavirus relief
Hundreds of members of the U.S. House of Representatives will gather in Washington on Thursday to pass a $484 billion coronavirus relief bill, bringing the unprecedented total of funds approved for the crisis to nearly $3 trillion.
Renault seeks state-backed loan as coronavirus crisis drags on
Renault is in talks with the French government to secure a state-backed loan worth several billion euros by mid-May to shore up its liquidity during the coronavirus pandemic, the French carmaker said on Thursday.
