Kia compact vehicles contractor suspends production
A South Korean contract manufacturer for Kia Motors’ compact vehicles has suspended production, a company official said on Monday, citing a drop in overseas demand as the coronavirus outbreak has spread across Europe.
JPMorgan announces coronavirus relief package for customers
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Monday the bank would extend benefits to customers who have been hurt by the ongoing coronavirus crisis by introducing measures such as waivers for late fees and a 90-day grace period for mortgage and auto loan payments.
Stocks jump on virus hopes, oil hit by OPEC+ delay
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases, though a delay in talks between Saudi Arabia and Russia to cut supply sent oil tumbling again.
Oil falls after Saudi Arabia, Russia delay meeting
Oil prices fell on Monday after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help to reduce global oversupply as the coronavirus pandemic pummels demand.
EasyJet founder digs in on battle with management over Airbus order
Stelios Haji-Ioannou, easyJet’s founder and biggest shareholder, on Monday intensified his battle with the airline’s management over a huge aircraft order with Airbus which he says it should cancel.
Futures jump on hopes of slowdown in coronavirus cases
U.S. stock index futures jumped about 4% on Monday after President Donald Trump expressed hope that the coronavirus health crisis in the United States was “leveling-off” in some of the country’s hardest-hit areas.
Britain’s BT commits to no job losses over coronavirus
The head of Britain’s biggest telecoms firm BT said he would donate his salary to health workers for at least six months and award a pay rise to his frontline staff who are maintaining broadband networks during the coronavirus shutdown.
Lufthansa’s Belgian carrier suspends flights until mid-May
Belgium’s Brussels Airlines, a Lufthansa subsidiary, has extended its suspension of flights until at least May 15, it said on Monday.
Peugeot parent secures further 3 billion euros of loans
Peugeot-owner PSA said on Monday it had secured a further 3 billion euros ($3.3 billion) of loans, strengthening its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.
Top Michelin executives agree to pay cuts to help with COVID-19 response
French tyre company Michelin said on Monday that its leading executives had agreed to take pay cuts as a gesture of solidarity to help deal with the negative effects of the hit to its business from the COVID-19 outbreak.
