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Updated: 4 years 29 weeks ago
GM tops estimates despite coronavirus, sets North American restart
General Motors Co on Wednesday reported a huge plunge in first-quarter profit that raced past expectations, and the automaker outlined plans for a May 18 restart of most of its North American plants shut down by the coronavirus pandemic.
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Futures rise on optimism around easing of lockdowns
U.S. stock index futures rose on Wednesday as investors turned hopeful of a pickup in business activity with several countries and U.S. states relaxing coronavirus-induced curbs.
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Barrick adjusted profit jumps on higher prices, trims gold 2020 output
Canadian miner Barrick Gold Corp reported a nearly 55% rise in quarterly adjusted profit on Wednesday, benefiting from a surge in gold prices fueled by concerns over global economic growth.
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Qatar Airways to add more flights, rebuild network to 80 destinations by June
Qatar Airways on Wednesday said it planned to start rebuilding its network this month and targeted flying to 80 destinations by June.
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Barrick reports 55% higher adjusted profit helped by gold prices
Canadian miner Barrick Gold Corp reported a nearly 55% rise in quarterly adjusted profit on Wednesday, benefiting from a surge in gold prices and higher copper production.
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New York Times beats first-quarter revenue estimates
The New York Times Co beat Wall Street's revenue estimates on Wednesday as it added more subscribers in a quarter dominated by heavy news coverage around the COVID-19 pandemic.
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CVS Health first-quarter profit beats on COVID-19 stockpiling
CVS Health Corp on Wednesday posted first-quarter profit above Wall Street estimates, as its pharmacy benefits management business and its drugstores benefited from customers stockpiling medicines due to COVID-19 lockdowns.
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Tyson Foods to resume limited production at largest U.S. pork plant
Tyson Foods Inc will resume limited production at its largest U.S. pork plant this week, the company said late on Tuesday, a week after President Donald Trump ordered companies to keep meat-processing plants open to protect the supply chain.
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Yum China keeps bets on dine-in, sticks to expansion plans after virus
Yum China is betting that Chinese consumers will still choose to dine-in in the aftermath of the coronavirus crisis and plans to open more Pizza Hut and KFC outlets in China's smaller cities in the coming months, its chief executive said.
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World shares subdued amid mixed earnings; oil falters
Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets.
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E-cigarette maker Juul Labs to exit South Korea after year of health controversies
U.S. e-cigarette maker Juul Labs said on Wednesday it would end operations in South Korea, a year after it entered the market there but failed to gain traction amid government health warnings.
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Britain's mid-sized banks coping with coronavirus, but warn of pain ahead
A slew of Britain's mid-sized banks on Wednesday reported steady deposits and demand in the face of the COVID-19 pandemic, but warned it was too early to assess the long-term damage of the outbreak to their businesses.
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Turkish Airlines plans to resume limited flights in June: draft
Turkish Airlines plans a gradual resumption of flights from June and will take four months to return to near full operation, a draft plan seen by Reuters showed, as the economy reopens following a slowdown in coronavirus cases.
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Hapag-Lloyd seeks savings to offset coronavirus losses: CEO
German container line Hapag-Lloyd is to implement cost cuts to take account of the coronavirus crisis, its chief executive Rolf Habben Jansen said on Wednesday.
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Disney tests reopening strategy at Shanghai Disneyland
Walt Disney Co. will kick off its strategy next week to begin restoring its lucrative parks business that has suffered $1 billion in lost profits from the coronavirus-led shutdown.
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Disney takes $1.4 billion coronavirus hit, sets date to reopen Shanghai park
Walt Disney Co estimated on Tuesday that global measures to contain the coronavirus pandemic cut profits by $1.4 billion, mostly from its shuttered theme parks, but said it would reopen Shanghai Disneyland to a reduced number of visitors next week.
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Allianz aims to maintain dividend amid coronavirus outbreak, CEO says
The chief executive of German insurance giant Allianz said on Wednesday that 2020 will not be another record earnings year but that the company aims to maintain its dividend as it deals with the wrath of the coronavirus outbreak.
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Samsung heir Lee apologises over succession, won't hand control to children
Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.
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UK watchdog deems Shell's 'drive carbon neutral' ad campaign acceptable
A Royal Dutch Shell advertising campaign promising customers they can "drive carbon neutral" has been deemed acceptable under Britain's advertising rules following an investigation, regulators said on Wednesday.
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BMW cuts outlook, expects coronavirus impact to last all year
BMW AG on Wednesday said the impact of the coronavirus will likely hurt demand and profit throughout the year, forcing the German automaker to lower its profit outlook for passenger cars following a slowdown in first-quarter deliveries.
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