L’Oreal eyes post-confinement rush to hair salons
L’Oreal is counting on consumers rushing back to hair salons to help its business recover quickly once European and U.S. coronavirus lockdowns are lifted, it said on Thursday, adding that beauty sales were bouncing back already in China.
U.S. business formation tanks as coronavirus shuts economy
Applications to start new U.S. businesses tumbled last week, the latest indication that stringent measures to control the spread of the novel coronavirus had brought the economy to its knees.
World stocks seesaw, yields fall on dire economic outlook
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus outbreak and tamped down investor hopes a listless economy would soon be back on its feet.
Coronavirus hurts corporate activism now, but rebound expected
Activist shareholders are likely to scale back campaigns in the coming weeks as target companies brace for a deep recession and their favorite calls for change – ranging from mergers to returning cash – are ignored during the coronavirus pandemic.
T-Mobile wins final approval for closed merger with Sprint
California’s Public Utilities Commission (CPUC) voted on Thursday to approve the merger of wireless carriers T-Mobile US Inc and Sprint Corp, marking the final approval for a $23 billion deal which closed on April 1.
Starboard ends proxy fight at eBay, withdraws director nominations
Activist investor Starboard on Thursday ended its proxy fight at eBay by withdrawing its four director nominees four days after the ecommerce company named a new chief executive.
Apple to reopen its sole branded store in South Korea on April 18
Apple Inc said on Thursday it would reopen its sole retail store in South Korea on April 18, marking it the first site to return to business after it closed all stores outside Greater China last month due to the coronavirus outbreak.
U.S. rejects most Spirit, JetBlue requests to halt additional flights
The U.S. Transportation Department said on Thursday it had rejected most requests by JetBlue Airways Corp and Spirit Airlines to halt additional flights in the wake of the pandemic that has sent passenger traffic down by 95%.
Exclusive: Italy sees 2020 budget deficit near 10% of GDP – source
Italy’s budget deficit will be near 10% of gross domestic product this year, a senior government official told Reuters, as Rome increases borrowing to try to soften the impact of the new coronavirus and the economy plunges into a deep recession.
Air traffic in Latin America falls 91% due to the coronavirus outbreak
Air traffic in Latin America in April has fallen 91% compared to a year earlier due to the coronavirus outbreak that fully grounded two of the region’s largest airlines and canceled almost all other flights, industry group ALTA said on Thursday.
