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Updated: 4 years 29 weeks ago
PepsiCo beats revenue estimates but scraps forecast over virus crisis
PepsiCo Inc beat first quarter revenue estimates, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic.
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March global sales slump spells trouble ahead for Japan's carmakers
Global vehicle sales by Japanese automakers dropped by 34% in March when the coronavirus outbreak spread worldwide, and are set to fall further in the months ahead as the crisis continues.
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Lufthansa still considering protection from creditors: company source
The idea of German flagship carrier Lufthansa using a type of protection from creditors is not yet off the table, a source at the airline said on Tuesday.
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Berlin government, Lufthansa pursue rescue deal: sources
Lufthansa and the Berlin government are pursuing a 9 billion euro ($9.76 billion) rescue package for the airline, company and government sources said on Tuesday, but gave no timing for an agreement after a report overnight said the deal was complete.
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PepsiCo scraps forecast due to coronavirus crisis
PepsiCo Inc reported a rise in first-quarter revenue, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic.
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HSBC sees mounting credit losses after pandemic halves first-quarter profit
HSBC Holdings PLC on Tuesday warned of more earnings pain ahead after first-quarter profit nearly halved as it set aside a hefty $3 billion in bad loan provisions due to the coronavirus pandemic.
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Southwest posts first quarterly loss in nine years and warns of more coronavirus clouds
Southwest Airlines Co posted on Tuesday a $94 million net loss in the first quarter, its first quarterly loss in nine years, due to the coronavirus pandemic and said it sees no major improvement in air travel in the second quarter.
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Ford investors keen for details on when automaker will restart U.S. operations
Investors already know how the coronavirus outbreak has hurt Ford Motor Co's bottom line, so when the automaker releases first-quarter results on Tuesday they will focus on how and when Ford plans to restart North American operations.
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Wealth revamp helps UBS to 40% net profit rise in first quarter
The world's largest wealth manager, UBS , reported a 40% rise in quarterly profit on Tuesday, with its core business enjoying its best three months since 2008, thanks to a restructure and rich clients reshuffling portfolios to respond to the coronavirus outbreak.
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Norwegian Air slightly amends terms of conversion plan after talks with bondholders
Norwegian Air , the budget carrier that is fighting for its survival, has made some amendments to the terms of its debt-to-equity conversion plan in response to demands from bondholders, it said on Tuesday.
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Another day, another 20% plunge in WTI oil
Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP's profits could not keep stock markets down for long.
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No rescue deal yet for German airline Lufthansa: sources
Lufthansa has not yet agreed on a 9 billion euro ($9.73 billion) rescue package, company and government sources said on Tuesday, following a report overnight that said an agreement was complete.
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Oil prices fall on brimming storage, bleak recovery prospects
Oil prices plunged for a second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to recover even after countries ease restrictions to combat the coronavirus pandemic.
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Tesla's Musk nears $750 million options payday ahead of results
Tesla Inc Chief Executive Elon Musk is on the cusp of a roughly $750 million payday as the electric carmaker's stock recovers from a slump caused by the coronavirus, which led the company to close its factories and furlough workers.
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Airline SAS cuts up to 5,000 jobs due to pandemic
Scandinavian airline SAS said on Tuesday it could reduce about half its workforce as it struggles to survive the coronavirus outbreak.
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UK corporate profitability hit 10-year low in late 2019
British companies' profitability dropped to its lowest in more than a decade in the final three months of 2019, when concerns about Brexit and political uncertainty - rather than the coronavirus - were to the fore, official data showed on Tuesday.
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Bayer faces second investor reckoning over glyphosate litigation
Bayer on Tuesday faces its second annual investor reckoning over its handling of a wave of U.S. lawsuits claiming its glyphosate-based weedkillers cause cancer.
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Japan automakers post 34% plunge in March global sales
Japanese automakers saw a 34% fall in global vehicle sales in March when the coronavirus outbreak began to spread globally, and face a further tumble in the coming months.
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Novartis sales, profits rise in first quarter on COVID-19 buying rush
Novartis saw first-quarter sales climb as hospitals and patients stocked up on drugs to avoid being left short during the coronavirus crisis, lifting profits for the Swiss drugmaker.
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Lufthansa CEO says has no plan to sell Brussels Airlines: VRT
German airline Lufthansa has no intention of selling its Belgian unit Brussels Airlines, the head of Lufthansa Carsten Spohr assured Belgian Prime Minister Sophie Wilmès in a letter seen by the Belgian VRT public broadcaster.
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