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Updated: 4 years 29 weeks ago
VW says expects to be profitable in 2020 as first-quarter earnings drop
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.
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Geely's Volvo Cars gives notice to 1,300 white-collar staff in Sweden
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.
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Shares squeeze out gains as economies look to reopen
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.
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StanChart sees key markets leading quick economic recovery after loan losses hit first quarter
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.
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IAG shares fall after warning over slow recovery
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.
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WPP says COVID-19 dragged March net sales down 7.9%, braces for bigger impact
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.
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AstraZeneca beats first-quarter profit estimates, retains 2020 forecast
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.
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Fevertree Drinks co-founder to step down as non-executive deputy chairman
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.
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British retailer Next says quarterly sales plunge 41%
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.
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AirAsia will not take jet deliveries this year, revisiting Airbus order book
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 .
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Asia shares hit seven-week high, oil rallies as economies slowly re-open
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.
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Next sales slump after stores shuttered in coronavirus lockdown
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.
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StanChart eyes quick recovery as profit falls 12% on coronavirus crisis
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%.
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AirAsia will not take jet deliveries this year, re-looking at Airbus order book
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 .
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Novartis wins expanded European OK for Cosentyx amid pursuit of $5 billion sales
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.
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Airbus first-quarter core profit plunges 49% as coronavirus crisis starts to bite
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".
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Coronavirus likely hammered U.S. economy in first quarter
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.
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Much of U.S. economy still plugging along despite coronavirus pain
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.
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Exclusive: Boeing eyes major bond issue to raise funds - sources
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.
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Airbus first-quarter core operating profit tumbles 49%
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".
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