News

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Tue, 28 Apr 2020 16:31:05 GMT

Afghan government approves $164M contracts

The Afghan government's National Procurement Commission approved 48 contracts with a total value of $164M, a statement from the Presidential Palace shows.

Tue, 28 Apr 2020 15:29:36 GMT

Japan unemployment rises in March

The unemployment rate in Japan increased to 2.5% in March, the highest level in more than a year, a report published by the government shows.

Tue, 28 Apr 2020 13:48:37 GMT

Europcar still seeks French financial aid

On Tuesday, France's car hire firm Europcar stated it was continuing talks with the French government over receiving further financing aid, as the company was hit by the coronavirus outbreak.

Tue, 28 Apr 2020 13:34:10 GMT

Airline SAS to trim about half workforce due to pandemic

The Scandinavian airline SAS announced on Tuesday it was likely to cut about 5K jobs as the carrier fights for survival during the coronavirus outbreak.

Tue, 28 Apr 2020 11:58:36 GMT

Nissan cuts annual results outlook, sees operating loss

On Tuesday, Nissan Motor stated it expected its first full-year operating loss of $419.7M in more than a decade as Japan's carmaker tries to recover from falling car sales hit by the coronavirus outbreak.

Tue, 28 Apr 2020 11:20:05 GMT

UK grocery sales growth declines to 5.5%

British grocery sales increased 5.5% year-over-year in a month to April 19 due to consumers adapting to the coronavirus lockdown and making fewer purchases in stores, according to ab industry data.

Tue, 28 Apr 2020 09:57:48 GMT

Crude Oil prices plunge

On Tuesday, crude oil prices experienced another decline, as WTI crude experienced a 20% price drop.

Tue, 28 Apr 2020 09:14:52 GMT

German economy seen to contract by 6.6% this year

On Tuesday, Germany's economic institute Ifo stated the country's 2020 economy was likely to plunge by 6.6% year-on-year amid the coronavirus crisis, after falling by 1.9% in Q1, with forecasts of a 12.2% contraction in Q2.

Tue, 28 Apr 2020 08:32:37 GMT

Spanish unemployment surges to 14.4% in Q1

Spain's unemployment rate skyrocketed to 14.4% in 2020 Q1 due to a lockdown triggered by the coronavirus pandemic, the National Statistics Institute reported on Tuesday.

Tue, 28 Apr 2020 06:43:04 GMT

Novartis reports rising Q1 sales, profit

The Swiss drugmaker Novartis reported climbing Q1 profit and sales that topped analyst forecasts, confirming its 2020 targets due to the coronavirus outbreak that prompted patients to stockpile their medical prescriptions in advance.

Tue, 28 Apr 2020 06:36:21 GMT

Germany agrees to help Lufthansa with €9B rescue package

Germany agreed on Lufthansa rescue package worth around €9.0B in return for a couple of supervisory board mandates and a blocking minority, according to Business Insider.

Tue, 28 Apr 2020 04:40:26 GMT

DoubleLine expects new stock lows

On Monday, the head of DoubleLine Capital Jeffrey Gundlach revealed that his firm expects another US stock low level.

Tue, 28 Apr 2020 04:30:44 GMT

US banks grab up small business loans

It was revealed by Reuters on Monday that US banks have grabbed up nearly $310 billion of aid that was released by the US small-business loan program.

Tue, 28 Apr 2020 03:21:13 GMT

Amazon extends closure

On Monday, Amazon announced that it would keep its French warehouses closed until May 5th.

Mon, 27 Apr 2020 20:41:06 GMT

Wall Street surges on Monday

During Monday's US trading hours, global and US stock indices surged, as better than expected earnings were reported.

Mon, 27 Apr 2020 19:41:43 GMT

LOT to convert jets into freight carriers

Poland's airline LOT was in negotiations with Boeing to convert 787 Dreamliner jets into cargo carriers, aiming to narrow losses from the crisis.

Mon, 27 Apr 2020 18:47:44 GMT

Russia to slash oil output by 19% in May

Russia is set to cut its May oil output by 19% to 8.5M bpd from the level of 10.4M bpd in February-March, Interfax reported, citing Lukoil.

Mon, 27 Apr 2020 17:56:57 GMT

BP amends $5.6B Alaska deal

BP stated that it revised some financial terms of the $5.6B sale of the company's Alaska business to Hilcorp, as the drop in oil prices is likely to result in lower cash boost.

Mon, 27 Apr 2020 16:51:44 GMT

Microsoft deals with Coca-Cola to supply software

Microsoft Corp announced that it won a deal with Coca-Cola to provide business software for five years, including tools for customer service agents.

Mon, 27 Apr 2020 15:55:25 GMT

France's jobless claims rise markedly in March

The number of people filling jobless claims in France grew record 7.1% in March, the country's Labour Ministry stated.

Mon, 27 Apr 2020 14:55:25 GMT

Nissan to slash production in Japan

Nissan Motor is set to slash production plans in Japan 70% in May and 43% in June due to the impact of the coronavirus on the automaker.

Mon, 27 Apr 2020 14:23:15 GMT

Coronavirus crisis may hit GE's revenue

Quarantines and lockdowns of the US power plants caused by the coronavirus outbreak are threatening to hit a General Electric's revenue, on which the company was counting to help increase profits.

Mon, 27 Apr 2020 13:05:58 GMT

Apple to postpone its flagship iPhone production

Apple Inc is planning to delay its 2020 mass production of the flagship iPhones by a month due to the coronavirus outbreak's hit on the global consumer demand and manufacturing disruptions across Asia, according to the Wall Street Journal.

Mon, 27 Apr 2020 11:46:23 GMT

US economy hit by 16% unemployment

The US economy faces a historic shock with a potential 16% of unemployment rate this month caused by the coronavirus outbreak, requiring more stimulus to ensure robust rebound, White House stated.

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