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Updated: 4 years 29 weeks ago
Fear of coronavirus second wave stalks stock markets
Global stocks fell on Wednesday as fears about a second wave of coronavirus infections gripped financial markets.
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Qatar Airways in talks to defer Airbus, Boeing orders: SCMP
Qatar Airways, one of the Middle East's biggest airlines, is in talks with Airbus and Boeing to defer aircraft orders for several years, its chief executive was quoted as saying on Wednesday.
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Mitsubishi slashes SpaceJet budget, drops variant
Mitsubishi Heavy Industries (MHI) said it was more than halving the annual development budget for its SpaceJet regional jet as the coronavirus pandemic squeezes profit, and will suspend plans for a possible variant seen as key to winning future orders, particularly from U.S. airlines.
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CMA CGM taps French loan scheme to boost cash in coronavirus crisis
Shipping group CMA CGM has obtained a 1.05 billion euro ($1.1 billion) loan to be 70% guaranteed by the French government as it seeks to bolster its cash position during the coronavirus pandemic, which has hammered international trade.
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EasyJet, Germanwings lose legal fight against EU's Italian airport ruling
Easyjet and Lufthansa's Germanwings on Wednesday lost their challenge against an EU ruling ordering Italy to recover illegal state aid granted to airlines serving Sardinia.
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Maersk sees drop in global ship container demand this year
Shipping group A.P. Moller-Maersk warned of a sharp drop in global container volumes due to the coronavirus pandemic, with weaker retail sales and depressed car production dampening demand.
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TUI to cut jobs and costs as it prepares for July holiday restart
Travel group TUI will cut 8,000 jobs and look to shed 30% of its costs as it gears up for a July restart to European tourism, the German company said on Wednesday.
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Futures rise ahead of Fed Chair Powell's address
U.S. stock index futures edged higher on Wednesday, a day after Wall Street's main indexes fell, as investors kept an eye out for Federal Reserve Chairman Jerome Powell's address.
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European holidays to restart in July, tourism to recover by 2022: TUI CEO
Tourism will recover to its pre-coronavirus levels by 2022 at the latest and European holidays will restart in July said Fritz Joussen, the chief executive of travel group TUI .
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Tesla's California fight heats up competition for jobs
Tesla Inc Chief Executive Elon Musk's fight with local authorities over the reopening of its California plant has gotten the attention of those who scout sites for new factories and corporate offices, as well as economic development officials hungry for more jobs.
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Fed's Powell to assess next phase of pandemic economy
Federal Reserve Chair Jerome Powell, having overseen the rapid creation of the central bank's massive network of pandemic-era programs, turns his attention Wednesday morning to where things stand on the cusp of what may be a risky reopening occurring disparately across the 50 U.S. states.
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Sony reports 57% drop in fourth-quarter profit, declines to give outlook
Japan's Sony Corp on Wednesday reported a 57% drop in fourth-quarter operating profit and refrained from providing an outlook for the current year due to uncertainty related to the coronavirus outbreak.
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Korean Air to issue $817 mln in new shares as virus strains industry
South Korea's largest airline, Korean Air , plans to sell around 1 trillion won ($816.55 million) in new shares in its biggest rights issue in 20 years to raise funds amid mounting strains in the industry due to the pandemic.
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Forex firm Travelex to default on coupon payment
Troubled currency services provider Travelex [TFPI.UL] on Wednesday warned of defaulting on a 14.4 million euro ($15.6 million) coupon payment on some of its senior notes as it grapples with a hit to earnings amid the coronavirus crisis.
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Emirates plans scheduled flights from May 21 to nine cities
Emirates Airline from May 21 plans to operate scheduled flight services from Dubai to London Heathrow, Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne, it said in a statement on Wednesday.
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Korean Air to issue $817 million in new shares as virus strains industry
South Korea's largest airline, Korean Air , said on Wednesday its board decided to sell about 1 trillion won ($816.55 million) in new shares to raise funds amid mounting strains in the industry due to the coronavirus pandemic.
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South Korean shoppers go the distance to beat Chanel price hike
More than a hundred shoppers waited in line to enter a store of French luxury brand Chanel in Seoul on Wednesday, shrugging off concern about a second wave of novel coronavirus infections to beat imminent price hikes.
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Korean Air says to issue new shares worth about $817 million
South Korea's largest airline, Korean Air , said on Wednesday its board decided to sell about 1 trillion won ($816.55 million) in shares to raise funds as airlines' finances come under strain from grounded fleets due to travel restrictions and crippled demand from the coronavirus pandemic.
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Resurgent Wall Street disconnected from reality on the ground
With the U.S. economy facing its potentially deepest economic decline in nearly a century, Wall Street is pulling further and further ahead from Main Street.
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Deutsche Bank targets 200 billion euros of sustainable investment by 2025
German lender Deutsche Bank plans to pump at least 200 billion euros ($216.8 billion) into so-called sustainable financing and investments by 2025, its first formal targets for doing so.
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