Abbott beats quarterly profit, but pulls forecast on coronavirus concerns
Abbott Laboratories beat quarterly profit estimates on Thursday as stay-at-home orders prompted customers to stockpile its nutrition products but the company suspended its full-year forecast due to the coronavirus-fueled uncertainty.
U.S. opposes general allocation of Special Drawing Rights to IMF members
The United States opposes creation of liquidity through issuance of the International Monetary Fund’s Special Drawing Rights (SDRs) as part of the response to the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
Apple’s budget iPhone unlikely to make splash in China: Weibo poll
Apple Inc’s new iPhone SE for the budget-conscious is unlikely to be a major driver of sales in China, a Weibo survey suggested, with analysts noting its lacks of 5G capability.
Santander launches money transfer app in UK to fend off competition from fintechs
Santander on Thursday launched a money service app in the United Kingdom that will initially be free of fees for transfers of up to 3,000 pounds ($3,740) due to the coronavirus pandemic as lenders try to fend off competition from start-ups in the paym…
Barrick expects 8.5% drop in first-quarter gold output
Barrick Gold expects a 8.5% drop in first-quarter gold production, it said on Thursday, as the COVID-19 pandemic forced miners to scale back operations and shutdown mines.
Founder of easyJet calls for CEO and chairman to go
The founder and biggest shareholder of easyJet said he would call for the removal of the low cost airline’s chief executive and chairman in an escalation of his long-simmering row with management.
Morgan Stanley profit plunges as dealmaking hit by pandemic
Morgan Stanley posted a 32% fall in quarterly profit on Thursday as its advisory and wealth management businesses took a hit from the economic fallout of the COVID-19 pandemic.
Volkswagen withdraws outlook after first-quarter operating profit drops 81%
Volkswagen Group on Thursday withdrew its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused operating profit to drop 81% in the first quarter.
Portugal’s TAP asks for state-backed loan to survive coronavirus
Portugal’s flag carrier TAP has asked for a state-backed loan to aid the survival of the company, which is at its most fragile since it was founded, board Chairman Miguel Frasquilho said in a parliamentary hearing on Thursday.
Vietjet agrees loan repayment delays with lenders
Vietjet Aviation has reached agreements with its lenders to delay repayments on loans it used to buy aircraft, the Vietnamese budget airline said on Thursday.
