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Primark owner scraps dividend, takes charge for surplus stock as coronavirus crisis hits
Primark owner Associated British Foods will not pay an interim dividend to save cash during the coronavirus crisis and has booked a 284 million pound ($352 million) charge to reflect an expected lower value of stock when its stores reopen.
Categories: Reuters
Lockheed Martin quarterly revenue rises 9.2%
Lockheed Martin Corp , the Pentagon's No.1 weapons supplier, reported a 9.2% rise in quarterly revenue on Tuesday, helped by higher sales in its aeronautics unit, which makes the F-35 fighter jets.
Categories: Reuters
French court to issue verdict in Amazon case on April 24: judge
A verdict in a case involving U.S. e-commerce giant Amazon will be issued by the Court of Appeal in Versailles on April 24, a French judge said on Tuesday.
Categories: Reuters
Coca-Cola sees second-quarter sales hit from coronavirus lockdown
Coca-Cola Co on Tuesday forecast a hit to current-quarter results as restaurants, theaters and other venues that represent about half of the company's revenue remain closed because of the coronavirus pandemic.
Categories: Reuters
Senators from both U.S. parties press Fed for climate details
Senators from both major U.S. parties are pressing the Federal Reserve to say more about the role that climate considerations could play in its asset purchase programs, showing the new focus of investors on environmental considerations.
Categories: Reuters
Tech titans dominate U.S. stock market after surge
Investors are once again crowding into a narrow range of technology and internet stocks, heightening concerns that the market's dramatic bounce from last month's lows is becoming increasingly vulnerable to sharp reversals as the coronavirus outbreak continues to batter the economy.
Categories: Reuters
U.S. oil futures plumb historic lows below zero, Brent plunges
U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first ever sub-zero dive, as concerns grew the United States will run out of storage for a glut caused by the coronavirus lockdown.
Categories: Reuters
Demand for masks crashes website of Japan's Sharp
The website of Japanese electronics firm Sharp crashed on Tuesday after the company started selling face masks online, as Japan's tally of coronavirus infections passed 11,000.
Categories: Reuters
Daimler teams up with Volvo Trucks in fuel cell venture
Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation.
Categories: Reuters
Futures slide as U.S. crude crashes below zero
U.S. stock index futures resumed their slide on Tuesday as gloomy quarterly earnings reports and a historic plunge in U.S. crude prices to below zero raised the specter of a deep global recession in the coming months.
Categories: Reuters
London Stock Exchange committed to Refinitiv deal in pandemic-hit markets
The London Stock Exchange said on Tuesday it was committed to completing its $27 billion takeover of data company Refinitiv in the second half of the year, with no plans to revise its savings targets for the deal as a deep recession beckons.
Categories: Reuters
LSE says no plans to revisit savings target from Refinitiv deal
The London Stock Exchange said it has no plans to change its targets for synergies from its planned $27 billion takeover of data and analytics company Refinitiv.
Categories: Reuters
South Korea's Asiana to get $1.4 billion liquidity from state banks
South Korea's two state-owned banks said on Tuesday they will provide up to 1.7 trillion won ($1.4 billion) in fresh liquidity to Asiana Airlines , the country's second-largest carrier, as the industry struggles with the coronavirus crisis.
Categories: Reuters
Virgin Australia falls to virus crisis, appoints administrator to find investor
Virgin Australia Holdings Ltd on Tuesday succumbed to third-party led restructuring that could lead to a sale, making Australia's second-biggest airline the Asia-Pacific region's biggest victim of the coronavirus crisis gripping the industry.
Categories: Reuters
Oil crash hits stocks, dollar gains as investors shun risk
Global stocks fell on Tuesday, a day after U.S. crude oil prices turned negative for the first time, as dismal company earnings reports underlined worries about economic damage from the coronavirus pandemic.
Categories: Reuters
South Korea state banks to provide up to $1.4 billion liquidity to Asiana Airlines
South Korea's two state-owned banks said on Tuesday they had together decided to provide up to 1.7 trillion won ($1.38 billion) in fresh liquidity to Asiana Airlines which is struggling with the impact of the coronavirus.
Categories: Reuters
U.S. oil futures plumb historic lows below zero
U.S. oil futures traded in negative territory on Tuesday, after sinking nearly $40 the previous session in their first ever dive below zero, as concern grew the sector will run out of storage for a glut caused by the coronavirus lockdown.
Categories: Reuters
Huawei first-quarter revenue growth slows sharply amid U.S. ban, virus headwinds
Huawei Technologies' revenue growth slowed sharply in the first quarter but the world's top telecoms equipment supplier labeled the performance as "resilient" in light of pressure from the United States and the impact of the COVID-19 pandemic.
Categories: Reuters
California regulator wants changes in PG&E reorganization plan, proposes $2 billion fine
A California regulator has asked PG&E Corp for governance and oversight changes in its reorganization plan, while also proposing penalties of about $2 billion on the San-Francisco based utility for its role in causing the devastating 2017 and 2018 wildfires in California.
Categories: Reuters
U.S. crude futures turn positive after historic plunge, Brent falls
U.S. oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude.
Categories: Reuters