HSBC HK shareholders mull legal action over dividend suspension
HSBC shareholders in Hong Kong are considering calling for an extraordinary meeting with management and taking possible legal action against the bank’s decision to scrap dividend payments.
As Germany reels from coronavirus, some officials debate impact on banks
As Germany rolls out a 750 billion-euro economic stimulus package, officials and experts are discussing whether German lenders, including Deutsche Bank AG and Commerzbank AG, will be able to weather the economic fallout of coronavirus without state hel…
Dubai’s Emaar suspends construction projects due to virus – sources
Emaar Properties , the largest listed developer in the United Arab Emirates, has suspended work on major projects in Dubai, sources familiar with the matter said, as the coronavirus pandemic exacerbates a real estate slowdown in the business hub.
Take Five: Life in the time of corona
The world’s biggest economy won’t be open for business by Easter, as U.S. President Donald Trump had hoped, but the second biggest economy may come close. How China fares offers a guide to other countries when their coronavirus lockdowns lift.
Stocks jump on virus slowdown hopes, but oil slips on oversupply
Stocks jumped on Monday as investors were encouraged by a slowdown in coronavirus-related deaths and new cases, while oil prices skidded after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive.
Oil edges down 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 alleviate global oversupply as the coronavirus pandemic pummels demand.
Carmaker PSA secures further 3 billion euros worth of loans
French carmaker and Peugeot-owner PSA announced on Monday a further 3 billion euros ($3.3 billion) worth of loans to strengthen its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.
BMW sales plunge in first quarter as coronavirus takes toll
BMW said on Monday that group sales dropped by 20.6% to 477,111 vehicles in the first quarter as the outbreak of coronavirus took its toll and many retail outlets temporarily closed.
NMC in talks with lenders to avoid administration
Troubled hospital group NMC Health said on Monday it is in talks with Abu Dhabi Commercial Bank , seeking to convince it to withdraw an application that the lender had filed proposing that NMC be placed under administration.
Norwegian Air’s March traffic tumbles 60% amid virus lockdown
Norwegian Air’s passenger volume fell by 60% year-on-year in March as it grounded planes amid efforts to halt the spread of the new coronavirus, and will book a hedging loss of $102 million as the cost of fuel has plunged.
