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Company news

07.05.2020 14:01:14

Norwegian Air guarantees funds from investors to survive pandemic

The flag carrier Norwegian Air (NWC.OL) has guaranteed essential funding from investors on Thursday. The company is fighting for its survival after the decline of travelers hit a 98.7% volume amid the virus outbreak. More than 95% of its shareholders ...

07.05.2020 14:01:14

Liberty and Telefonica agrees for a $38 billion deal to take on BT

Liberty Global Plc (LBTYA.O) and Telefonica SA (TEF.MC) made a deal on Thursday to combine their British businesses at $38 billion including debt. The joint venture will heighten the challenge for British Telecom pioneers in mobile and broadband. According ...

07.05.2020 12:01:14

Oil steadies as China imports bounce

Oil prices steadied on Thursday as China’s crude imports bounced, but analysts expect prices to be capped due to oversupply and weak demand. Brent crude climbed 0.1%, or 3 cents, at $29.75 per barrel. U.S. West Texas Intermediate gained ...

07.05.2020 11:01:30

Dollar to dominate majors through pandemic: analysts

The safe-haven dollar will remain to dominate currency markets for three more months amid economic risks brought by the coronavirus pandemic. As the global economy nears a standstill, traders refrained from investing in risky currencies. While ...

07.05.2020 10:01:13

Pound rallies after BOE maintains size of bond-buying program

The British Pound Sterling recovered from a two-week low after the Bank of England (BOE) announced that it had decided to maintain the size of its bond-buying program. The UK central bank had previously slashed its benchmark interest rates ...

07.05.2020 10:01:13

China exports see 3.5% gain despite COVID-19 woes

China saw an unexpected rise in April exports despite the effects of the COVID-19 pandemic. However, the nation’s imports still saw a decline. China’s General Administration of Customs (GAC) reported a 3.5% rise in exports year-on-year ...

07.05.2020 09:01:28

U.S. unemployment claims perpetually filed as COVID-19 hits economy

Americans, by the millions, have yet again filed for unemployment last week. This telegraphs further layoffs not only from the consumer industry, but with other branches of the economy as well. And despite the country's apparent reopening, ...

07.05.2020 08:01:32

Ford projects in China cap sales growth in April as market recovers

American auto firm Ford Motor Co reported sales growth in its two China ventures in April. The sales cap signals the incipient recovery of the world’s largest car market after suffering from pandemic-driven lows. Chongqing Changan Automobile ...

06.05.2020 14:01:16

Airbnb will slash 1,900 jobs amid travel slump due to pandemic

Airbnb Inc. will lay off a quarter of its workforce or almost 1,900 workers on Tuesday, as the travel industry was severely affected due to the pandemic. According to the memo sent by Airbnb’s Chief Executive Officer Brian Chesky, “Airbnb’s ...

06.05.2020 14:01:16

United Airlines plans to cut 30% of workforce in October, brace pilots for changes too

According to a reliable source, the United Airlines Holdings Inc. (UAL.O) revealed plans on Tuesday to slash its workforce by 30% or roughly 3,400 managerial and administrative jobs in October to survive a collapse in travel demand amid the ...

06.05.2020 13:01:37

Oil suffers as supply concerns emerge from increasing U.S. stocks

Oil underperformed on Wednesday, with frail trading session ending oil prices’ high-streak records. Underperformance was brought by an unprecedented boost In U.S. inventories, bringing oversupply concerns amid a virus-driven slump in ...

06.05.2020 13:01:37

Global shares decline amid U.S.-China dispute, oil drops

Global shares floundered while the yen rose on Wednesday as markets in China struggled in regaining momentum after a long holiday. Dampened market mood could be attributed to the Sino-U.S. dispute while oil failed to extend high records due ...

06.05.2020 12:01:29

Yen rises, euro falls amid gloomy economic recovery

The Japanese yen climbed to a three-year peak against the euro and a seven-week high against the dollar on Wednesday amid a rocky global economic recovery. The euro stood at 1.0826 against the dollar and at 115.09 against the yen.  The ...

06.05.2020 12:01:29

Euro zone will suffer record recession, Commission says

The euro zone economy will suffer a record 7.7% contraction due to the coronavirus pandemic. Inflation will likely almost disappear, while budget deficits and public debt will increase, according to the European Commission. Inflation rate ...

06.05.2020 12:01:28

Dollar edges higher ahead of week’s event risk

The Dollar edged higher on Wednesday morning in Europe, with investors remaining cautious ahead of event risks for the week. This includes a U.K. central bank meeting and the release of key U.S. unemployment data scheduled for Thursday. The ...

06.05.2020 12:01:28

China’s exports and imports to plummet amid battered global demand: Reuters poll

China’s exports and imports for April are expected to plummet after a tentative recovery in the previous month. TThe decline is forecasted at a record double-digit level as the COVID-19 pandemic continues to batter global demand and ...

05.05.2020 11:01:09

General Electric aviation plans to cut 25% of workforce amid virus outbreak

General Electric’s (GE.N) aviation unit revealed plans on Monday to slash its workforce by 25% or roughly 13,000 jobs this 2020. It includes voluntary and forced layoffs due to delayed reduction plans for aircraft amid the virus outbreak. “The ...

05.05.2020 11:01:09

Norwegian Air gets rescue package worth $1B debt-for-equity swap

The investors of flag carrier Norwegian Air (NWC.OL) backed its rescue plan with more than 95% of shareholders voted in favor of the conversion of nearly $1 billion debt-for-equity swap in Oslo on Monday. However, pilots and flight attendants ...

05.05.2020 11:01:09

U.S. SEC eases policy for firms suffering from virus-driven disruptions

The U.S. Securities and Exchange Commission (SEC) pledged to ease crowdfunding requirements on Thursday. The policy will support smaller businesses in pursuit of meeting their “urgent funding needs” as the disruptions brought by ...

05.05.2020 11:01:09

Oil prices gain on positive demand outlook

Oil prices gained on Tuesday after fuel demand turned positive as lockdowns began to ease in some parts of the world.  West Texas Intermediate crude futures were up 6.5%, or $1.33, at $21.72 per barrel.  Brent crude futures rose ...

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