Euro zone economy set for deepest recession on record: Reuters poll
The euro zone economy is already in its deepest recession on record, according to a Reuters poll of economists, who have stuck to a bleak outlook and worry the downturn might be even worse as coronavirus lockdowns across the bloc take their toll.
Delta to reduce cash burn as it braces for sluggish recovery from pandemic
Delta Air Lines Inc reported on Wednesday its first quarterly loss in eight years as the coronavirus crisis devastates air travel demand, but said its daily cash burn would slow through June as it braces for a recovery that could take two to three yea…
Iran’s Zanganeh says oil production cut should be taken seriously
Oil producer countries should respect crude production cuts aimed at stabilizing the oil market, Iranian Oil Minister Bijan Zanganeh told state TV on Wednesday.
Iran says it will fare better than others after oil crash amid battered economy
Iran will not suffer as much as other countries from the oil price plunge as it is less reliant on crude exports, its president said on Wednesday, with the state budget depending far less than before on oil revenue due to U.S. sanctions.
Explainer: How the EU can finance economic recovery after the COVID-19 pandemic
The European Union is looking at ways to revive its economy after what is expected to be the 27-nation bloc’s deepest recession, caused by the coronavirus pandemic.
Rogers pulls 2020 outlook, misses estimates as coronavirus crisis deepens
Rogers Communications Inc pulled its 2020 forecast and reported a lower-than-expected profit on Wednesday, as widespread cancellation of sports events hammered ad sales and demand for new routers took a hit due to the lockdowns.
Tissue sales help Kimberly-Clark beat quarterly results
Kimberly-Clark Corp said on Wednesday sales of tissue and toilet paper rose 13% in the first quarter as consumers stocked up in preparation for the coronavirus pandemic, helping the company beat Wall Street estimates for profit and sales.
Elevator maker Kone beats forecasts, sees China recovery
Kone reported a smaller than expected 10% fall in first-quarter profit on Wednesday, with demand for its elevators and services strong in many countries despite the coronavirus outbreak.
Baker Hughes quarterly revenue misses estimates amid oil rout
Baker Hughes Co reported lower-than-expected revenue on Wednesday as demand for its oilfield equipment and services took a hit from a more than 80% plunge in oil prices this year.
Glow at home: Beauty industry remakes product pitches in the age of coronavirus
Out: smoky eyes, red lipstick and fake eyelashes. In: dewy skin, under-eye concealer, moisturized hands.
