Morgan Stanley profit plunges 32% on COVID-19 impact
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 2020 outlook after renvenue drop 8% in first quarter
Volkswagen Group on Thursday said that it was withdrawing its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused a fall in demand and group revenue to drop 8% in the first quarter of this year.
Daimler/BMW’s ‘FREE NOW’ service to restructure, integrate French app Kapten
The ‘FREE NOW’ taxi ride-hailing service run by Daimler and BMW announced on Thursday a corporate restructuring, which could lead to job cuts, and unveiled plans to merge with French app Kapten.
Options markets send cautiously bullish signal on U.S. stock rally
As Wall Street stocks pause for breath following a blistering three-week surge, signals from the options market are suggesting that some investors believe the gains may endure.
Dollar perched at one-week highs before U.S. jobless data
The dollar consolidated its gains against other currencies on Thursday before the release of weekly U.S. jobless data likely to provide more evidence of the world’s biggest economy hurtling into a deep recession.
Uber Eats sees grocery orders jump in locked down Europe
Uber Eats said orders for grocery delivery on its platform jumped 59% across Europe in March compared with February as countries locked down to fight the coronavirus, helping offset some of the impact of shuttered restaurants on demand.
Some Accor hotels to admit mild coronavirus cases in Paris region
French hotel group Accor said that some of its hotels in the Paris region will open on Thursday to people infected with the coronavirus who are symptom-free or showing slight symptoms.
Thailand expects liquidity support for Thai Airways next week
The Thai government expects to conclude a capital injection plan for flagship carrier Thai Airways International Pcl next week, a government minister said on Thursday.
BlackRock assets, profits sink as investors pull funds
The world’s biggest asset manager BlackRock Inc saw the capital it manages fall by almost $1 trillion in the first quarter as investors pulled money out of its marquee funds amid the most damaging stock market selloff in more than a decade.
Huawei chip unit orders up more domestic production as U.S. restrictions loom: sources
Huawei Technologies Co Ltd is gradually shifting production of chips designed in-house away from Taiwan Semiconductor Manufacturing Co Ltd (TSMC) and towards a mainland Chinese firm in preparation for more U.S. restrictions, sources familiar with the m…
