Volkswagen says diesel scandal has cost it 31.3 billion euros
Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects cash outflows to continue until 2021, adding that these have already been provisioned for.
Volkswagen suspends production as coronavirus hits sales
Volkswagen Group , the world’s biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday.
L Brands temporarily closes stores, draws down $950 million from existing credit line
L Brands Inc said on Tuesday it would temporarily close all its stores, including those of Bath & Body Works and Victoria’s Secret, in the United States and Canada through March 29 and that it has drawn down $950 million from an existing credit line due to the coronavirus outbreak.
China’s JD.com to buy back $2 billion shares
China’s JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares, after the e-commerce company estimated a growth in sales in the current quarter that has been ravaged by the coronavirus outbreak.
China’s JD.com to buy back $2 billion shares amid coronavirus fears
China’s e-commerce company JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares as the coronavirus outbreak grows bigger.
Oil falls to $30 on recession fears and Saudi pump war
Oil fell below $30 a barrel on Tuesday, trading close to its lowest in more than four years, as the coronavirus pandemic hit demand and Saudi Arabia raised output to a record as it battles with Russia for market share.
Glencore charters world largest tanker to store crude at sea: sources
Trading house Glencore has chartered the 3 million barrel crude carrier ‘Europe’ to store oil at sea for at least 6 months, trading sources on Tuesday.
British Airways due to make pilot redundancies: union
British Airways is due to make an unspecified number of pilots redundant according to UK pilot union BALPA, as the airline seeks to reduce its costs to try survive the coronavirus crisis.
Exclusive: Airbus signals government help needed if crisis lasts months – sources
Europe’s Airbus has signaled that some government support may be needed if the coronavirus crisis lasts for several months, three people familiar with the matter said.
Coronavirus pushes China to show mercy rather than pursue companies in court
Fearful of causing further harm to an economy laid low by the coronavirus epidemic, authorities in China have become a lot more lenient dealing with entrepreneurs breaking the law.
