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Updated: 4 years 29 weeks ago
KFC operator Yum's first-quarter profit falls 68.3%
Yum Brands Inc reported a 68.3% fall in quarterly profit on Wednesday, as many restaurants across its four brands were closed or limited to delivery and take-away due to lockdowns to curb the rapid spread of the novel coronavirus.
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Exclusive: Boeing eyes major bond issue to raise funds
Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package as it aims to shore up its balance sheet amid a sharp travel downturn due to the coronavirus pandemic, three people familiar with the matter said on Tuesday.
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Lufthansa chief to meet Austrian chancellor to discuss state aid
Austrian Chancellor Sebastian Kurz and Lufthansa boss Carsten Spohr will meet in Vienna on Wednesday to discuss urgently needed state aid for the German carrier's Austrian business, a spokesman for Kurz said.
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Lufthansa's Belgian carrier suspends flights until June 1
Belgium’s Brussels Airlines, a Lufthansa (LHAG.DE) subsidiary, has extended its suspension of flights until June 1, it said on Wednesday.
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Wirecard slides again after short seller demands CEO's head
Shares in Wirecard slumped again on Wednesday as a prominent short seller demanded the sacking of CEO Markus Braun after a special audit of the German payments company was unable to verify its financial statements.
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Face masks and a factory redesign: How Bentley plans reduced return to work
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
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GE points to more pain ahead as cash flow worsens
General Electric Co's industrial businesses took a $1 billion hit to cash flow in the first quarter due to the COVID-19 pandemic as overall revenue fell almost 8%, and the company warned the damage would worsen in the next three months.
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Health insurer Anthem beats revenue estimates on higher premiums
U.S. health insurer Anthem Inc beat quarterly estimates for revenue on Wednesday, helped by the recent launch of its pharmacy benefits unit and higher premiums.
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Fed likely to renew vow to use all tools to brace economy
The Federal Reserve, which has pumped trillions in emergency funding into U.S. financial markets to stem the damage from the coronavirus pandemic, is expected on Wednesday to reiterate its promise to do whatever it takes to support the world's largest economy.
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GE revenue falls 7.6% as coronavirus crisis takes toll
General Electric Co reported a 7.6% drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
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U.S. SEC investigates Luckin Coffee over accounting scandal: WSJ
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
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Ad group WPP says COVID-19 has speeded up strategy shift
The COVID-19 pandemic is forcing the world's biggest advertising company WPP to accelerate its strategy of bringing its multiple agencies together to produce work more quickly for clients battling to cut costs.
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Toilet paper trophy hunters on a roll as U.S. shortages start easing
U.S. consumers have begun spotting rare Quilted Northern and Charmin toilet paper rolls on store shelves across the United States, as stocks start building after weeks of severe shortages.
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VW urges Germany to help boost demand for cars as profit plunges
Volkswagen urged the German government on Wednesday to help boost demand for cars as the coronavirus pandemic triggered a plunge in first-quarter operating profit and the world's biggest automaker warned of a difficult second quarter.
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Auto supplier Bosch sees global car production down 20% in 2020
German auto supplier and technology company Robert Bosch [ROBG.UL] on Wednesday said it expected automotive production to fall by at least 20% this year, as the coronavirus pandemic slams the brakes on factory production lines and saps demand.
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Britain's Waitrose names former Sainsbury's director James Bailey as new boss
Britain's John Lewis Partnership has appointed James Bailey, a former director of Sainsbury's , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.
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Beiersdorf top managers to waive 20% of fixed pay until December
Top managers at Nivea-maker Beiersdorf are waiving 20% of their fixed compensation between April and December, Chief Executive Stefan De Loecker said on Wednesday, adding that the level of management below them was also foregoing 5% of its pay.
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John Lewis Partnership names former Sainsbury's director James Bailey as new Waitrose boss
Britain's John Lewis Partnership [JLPLC.UL] has appointed James Bailey, a former director of Sainsbury's , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.
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UK's Next bolsters finances after coronavirus triggers 41% sales fall
British clothing retailer Next has shored up its finances to help get it through the coronavirus crisis by selling property, suspending share buybacks and dividends and cutting costs after first-quarter sales fell 41%.
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Samsung warns of second-quarter profit fall as coronavirus hits sales of phones, TVs
Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.
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