Brazilian airline Azul hires financial advisor for debt talks
Brazilian airline Azul SA said on Wednesday it has hired restructuring firm Galeazzi & Associados to work with the carrier “during this period of crisis.”
Chile’s LATAM Airlines plans to suspend 2019 dividend due to coronavirus crisis
The board of South America’s largest carrier, LATAM Airlines Group , plans to suspend a $57 million dividend payment tied to the company’s 2019 profits to preserve cash to weather the new coronavirus crisis, it said on Tuesday night.
Proxy adviser ISS backs Credit Suisse AGM proposals
Proxy adviser ISS has backed Credit Suisse’s proposals for its annual general meeting on April 30, recommending shareholders vote in favour of the group’s pay proposals and approve the performance of its leadership.
Global shares fall, weighed down by cheap oil and economic warnings
Global stocks fell on Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic.
Toshiba to temporarily close factories, offices in Japan
Toshiba Corp on Wednesday said it will temporarily close factories and offices in Japan from May 6 to May 15, allowing as many as 76,000 to stay at home as the coronavirus spreads, Kyodo newswire reported.
Citigroup profit nearly halves as loan defaults loom
Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as the bank set aside nearly $5 billion to prepare for an expected flood of defaults on loans due to a virtual halt in economic activity caused by the coronavirus pandemic.
Goldman Sachs profit halves on higher loan loss provisions, investment hit
Goldman Sachs Group Inc reported a 49% drop in quarterly profit on Wednesday, as it set aside significantly higher provisions related to corporate loans due to the impact of COVID-19 and booked heavy losses on its debt and equity investments.
Uber targets older Americans with phone-based food ordering during coronavirus crisis
Uber Technologies Inc on Wednesday said customers in New York City and the Miami area could now order restaurant meal deliveries over the phone, instead of through its app, as it aims to expand its service to older Americans.
Amazon may close French warehouses after court restrictions
Amazon said on Wednesday it may temporarily close its warehouses in France after a court ordered the e-commerce giant to limit deliveries in the country to essential goods like food and medical supplies.
Goldman Sachs profit halves on mounting loan loss provisions
Goldman Sachs Group Inc reported a 49% fall in quarterly profit on Wednesday, as the bank put aside nearly $1 billion to meet future loan defaults and booked heavy losses on its debt and equity investments.
