Spotify Technology's paid music subscribers increased to 130M in the Q1, driving its shares higher, as the firm's business model proved to be more resilient in the COVID-19 lockdowns.
Nio Inc's shares surged more than 14% after it announced that it secured $989M investment in Nio China, a new company controlled by China's EV maker.
Lyft announced plans to lay off 17% of its workforce, or 982 workers, and implement pay cuts amid economic challenges caused by the COVID-19 pandemic.
The aerospace supplier Safran reported a 8.8% fall in Q1 revenue to €5.38B, as the coronavirus crisis started to weigh over its interiors and aircraft engines business.
German exchange operator Deutsche Boerse reported a 33% increase in its net profit in the first quarter, meeting expectations.
General Electric stated that it cut 700 positions in the company's power division in the Q1, adding that it was set to diminish capital expenditure by 25% in 2020.
Renault was considering cutting the number of sub-contractors that it uses to develop vehicle models in the engineering division potentially saving the company between €100M to €200M.
The German economy is expected to shrink 2% in Q1 and 10% in Q2 of 2020, the DIW economic institute stated, suggesting deeper recession than during the 2008 crisis.
Spotify Technology SA announced on Wednesday that the company has experienced a 22% rise in quarterly profits and added new 130 million paid subscribers.
On Wednesday, the Bank of England announced that it cannot predict the scale of the coronavirus recession.
Data published by various German states on Wednesday revealed that inflation in Germany has slowed down by approximately a quarter.
During Wednesday's European trading hours, crude oil price benchmarks surged, as the US inventories had increased by less than expected.
On Wednesday, stock indices in Europe traded flat, as defense stocks dropped while automaker stock prices surged.
The Federal Reserve is seen on Wednesday to renew its vow to brace the US economy by any means after a major hit by the coronavirus pandemic.
Daimler sees the Mercedes-Benz Cars & Vans unit's operating profit to exceed the prior-year level, despite the coronavirus outbreak forced the German automaker to withdraw its forecast earlier this month.
On Wednesday, the planemaker Airbus has reported a 49% plunge in its Q1 adjusted operating profit to €281M as revenue plummeted 15% to €10.631B amid the global crisis triggered by the coronavirus pandemic.
Ford Motor is expecting its Q2 loss to more than double to $5B from $2B in the Q1 amid weak demand caused by the the coronavirus outbreak.
Samsung Electronics said in a statement on Wednesday that it expected the COVID-19 pandemic to hit the second-quarter profit.
According to data published on Wednesday, Australia's annual inflation rose to 2.2% in the Q1, the highest since the Q3 of 2014.
On Tuesday, Merck & Co warned of a $2 billion hit to its 2020 sales due to the COVID-19 pandemic, as the company reduced its 2020 profit outlook.
Kevin Hassett, the White House economic adviser, said on Tuesday that another COVID-19 aid package could help drive the US economic growth in the Q2.
Tourist arrivals to Sri Lanka decreased by 31.5% to 507,311 in the first three months of this year amid the COVID-19 pandemic, the Sri Lanka Tourism Development Authority reports.
One of the leading Chinese display producers, BOE Technology Group, announced a revenue increase of 19.5% to $16.4B in 2019, data published by the company show.
The Namibian economy is expected to contract 6.9% in 2020 after a contraction of 1.1% in 2019, a statement published by the central bank shows.