Reuters

Volkswagen on Wednesday said it expected to be profitable on a full-year basis even as the coronavirus pandemic caused first-quarter earnings to plunge.

Volvo Car Group, owned by China's Geely Holding, said on Wednesday it was giving notice of redundancy to 1,300 white-collar workers in Sweden as the impact from the pandemic raised the urgency of lowering structural costs.

World shares eked out slim gains on Wednesday, with optimism over economies easing coronavirus lockdowns and oil prices clawing back ground leavened by caution over corporate earnings.

Standard Chartered PLC on Wednesday said it expects its main markets to lead global economic recovery from the COVID-19 crisis as early as later this year, striking an optimistic note after increased bad loan provisions squashed quarterly profit.

Shares in airline group IAG fell 3% after the airline group launched a plan to shrink its main British Airways business, axing staff numbers by a quarter as it warned of a slow recovery from the coronavirus pandemic.

WPP said on Wednesday the COVID-19 pandemic had forced its net sales down by 7.9% in March and the world's biggest advertising company expects worse to come, prompting it to cut yet more costs across the group.

AstraZeneca beat analysts' estimates for first-quarter profit and reiterated its 2020 outlook on Wednesday, as demand for the drugmaker's newer medicines held up and its supply chain proved resilient to the coronavirus-induced disruptions.

Britain's Fevertree Drinks said on Wednesday co-founder Charles Rolls plans to step down from his role as non-executive deputy chairman at the company's annual general meeting in June.

British clothing retailer Next said on Wednesday total product sales in its latest quarter crashed 41%, reflecting the closure of all its stores in the coronavirus lockdown and the temporary shutdown of its online operations.

Malaysia's AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year because of the sharp fall in demand from the coronavirus crisis, and was revisiting its order book with Airbus SE .

Asian shares climbed to a near two-month peak on Wednesday as investors took heart from easing coronavirus lockdowns in some parts of the world, better-than-expected corporate earnings and a welcome rebound in oil prices.

British clothing retailer Next said on Wednesday total product sales in its latest quarter crashed 41%, reflecting the closure of all its stores in the coronavirus lockdown and the temporary shutdown of its online operations.

Standard Chartered PLC on Wednesday said it expects virus-battered economies to recover later this year, striking an optimistic note after increased credit impairment and provisions for future loan losses pushed first-quarter profit down 12%.

Malaysia's AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year due to the sharp fall in demand from the coronavirus crisis and was relooking at its order book with Airbus SE .

Novartis on Wednesday won a new European approval for its inflammation drug Cosentyx in a form of arthritis, as the Swiss drugmaker predicts broadening use of its top-selling medicine will eventually push annual sales beyond $5 billion.

Planemaker Airbus on Wednesday posted a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenue dropped 15% to 10.631 billion euros amid the "gravest crisis the aerospace industry has ever known".

The U.S. economy likely contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.

Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.

Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package, aiming to shore up its balance sheet amid a sharp travel downturn from the pandemic, three people familiar with the matter said on Tuesday.

Planemaker Airbus posted on Wednesday a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenues fell 15% to 10.631 billion amid the "gravest crisis the aerospace industry has ever known".