Exclusive: Germany ready to nationalise airline Condor – sources
The German government stands ready to take over Condor as a deal for the airline to be bought by Polish rival LOT is likely to collapse in the industry turmoil caused by the coronavirus crisis, several people familiar with the matter told Reuters.
Adidas apologizes for deferring store rent, will pay up
German sportswear maker Adidas apologizes on Wednesday for saying it would stop paying rent for stores around the world forced to close by coronavirus lockdowns after a storm of criticism, saying it would pay up for April after all.
Oil falls towards $25 as oversupply fears mount with U.S. inventory rise
Oil fell towards $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns.
Income funds sift for survivors as coronavirus cuts into dividends
As companies cut dividends in response to the financial havoc caused by the coronavirus, fund managers whose portfolios rely on the payouts are sifting for those most likely to deliver a sustainable yield when the world recovers.
Adidas apologises for deferring store rent, will pay up
German sportswear maker Adidas apologised on Wednesday for saying it would stop paying rent for stores forced to close by coronavirus lockdowns after a storm of criticism, saying it would pay up for April after all.
U.S. private payrolls post first decline since 2017
U.S. private payrolls dropped in March for the first time since 2017, likely as businesses shut down in compliance with strict measures by authorities to contain the coronavirus pandemic, supporting economists’ views that the longest employment boom in…
EU proposes short-time work scheme to avoid coronavirus lay-offs
The European Commision proposed a short-time work scheme on Wednesday modelled on Germany’s Kurzarbeit programme to help people keep their jobs as the coronavirus pandemic hits economies across the 27-nation bloc.
Futures tumble in start to second quarter as coronavirus crisis worsens
U.S. stock index futures sank on Wednesday, as stark predictions of a rise in the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets.
Russia, U.S. hold energy talks, as Trump complains about oil cheaper than water
U.S and Russian energy officials held rare talks about oil after crude prices crashed to levels last seen about two decades ago, while President Donald Trump said oil that was cheaper “than water” was hurting the industry.
Exclusive: Germany ready to nationalize airline Condor – sources
The German government stands ready to take over airline Condor after an agreement by Polish carrier LOT to acquire the carrier is likely to collapse, several people familiar with the matter told Reuters.
