China set to cut benchmark rate after first GDP contraction on record: analysts
China is widely expected to cut its benchmark lending rate on Monday to provide further support for the coronavirus-hit economy, which shrank for the first time on record in the first quarter, a Reuters survey of traders and analysts found.
Super-charged stocks race toward second best week ever
World stock markets made a super-charged sprint towards an 11% weekly gain on Friday – their second best of all time – after President Donald Trump laid out plans to gradually reopen the coronavirus-hit U.S. economy following similar moves elsewhere.
Cathay Pacific to lay off overseas cabin crew, furlough pilots
Hong Kong’s Cathay Pacific Airways Ltd will lay off 286 cabin crew based in the United States and furlough 201 pilots based in Australia and Britain, it said on Friday, as the coronavirus pandemic has virtually halted global travel.
Coronavirus pandemic will not affect China’s current account in mid-to-long term: forex regulator
China’s current account was kept basically balanced and within a reasonable range in the first quarter of this year despite the coronavirus pandemic, and the outbreak will not affect the current account in the medium-to-long term, the foreign exchange …
Peugeot’s Vauxhall prepares safety steps for UK plant reopenings
Peugeot’s British brand Vauxhall, which operates two factories, is planning several safety measures including temperature checks, face mask-wearing and shift rescheduling to allow it to reopen sites amid the coronavirus outbreak.
Fares show declines as airlines brace for tough recovery: Skytra
Air fares have fallen as much as 30% since the start of the year in North America and Europe, according to the first of a new series of industry data, while stabilising on a smaller decline in Asia where some coronavirus lockdowns are being eased.
Oil mixed as China economy gloom overshadows plans to ease U.S. coronavirus lockdown
Oil prices were mixed on Friday after the weakest Chinese economic data in decades showed the impact of the coronavirus pandemic, offsetting some earlier gains on optimism for President Donald Trump’s early plans to revive the U.S. economy.
Volvo Cars to restart production in Sweden next week
Volvo Cars will reopen its Torslanda factory and offices in Sweden next week after overhauling its production processes to help prevent coronavirus infections, following a three week shutdown caused by the pandemic, the carmaker said on Friday.
Asian stocks rise as re-open of U.S economy offsets China GDP slump
Asian stocks gained on Friday as President Donald Trump’s plans to gradually re-open the U.S. economy outweighed concerns over data that showed China suffered its worst economic contraction on record due to the coronavirus outbreak.
French telecoms group Orange to cut dividend by 30%
Orange , France’s biggest telecoms operator, said on Friday it would cut its dividend for the 2019 financial year by 30% and that it would review dividend policy for the 2020-2023 period in the wake of the coronavirus outbreak.
