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Updated: 4 years 30 weeks ago
Burberry will not take British state crisis cash to pay staff
Luxury brand Burberry will pay all its staff globally even if they are unable to work due to coronavirus crisis store or site closures, adding on Friday it will not tap a government support scheme in Britain.
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Big Oil investors to look past earnings pain and focus on dividends
Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices.
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Burberry to maintain employee pay through coronavirus crisis
British luxury brand Burberry will continue to pay its employees who are unable to fulfil their roles because of store or site closures during the coronavirus crisis and will not rely on government help, it said on Friday.
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French court to rule on Amazon union spat as vendors struggle
A French court will on Friday decide whether to back Amazon's appeal against an order to restrict the goods it can deliver, which led it to close its warehouses in France and left many small firms struggling to ship products.
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Oil on course for steep slide in week of historic turmoil
Oil prices fell on Friday and headed for their third weekly loss running as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.
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Coronavirus clouds Intel outlook, despite short-term bump from PC buying
Intel Corp on Thursday forecast second-quarter earnings below Wall Street views as it cited the cost of readying a new PC chip and said it could not make a forecast for the full year because of economic uncertainty caused by the coronavirus pandemic.
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Korean Air to get up to $971 million support from state-owned banks
Two state-owned banks in South Korea said on Friday they would provide up to 1.2 trillion won ($971 million) in liquidity to support Korean Air Lines Co Ltd as the aviation industry reels from the coronavirus crisis.
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Stocks fall on worries over EU stimulus details, coronavirus drug
Global shares fell on Friday, spurred by delays to an agreement on divisive details of the European Union's stimulus package and doubts about progress in the development of drugs to treat COVID-19.
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Virgin Australia seeks aircraft waivers, owes $4.4 billion: administrator
Virgin Australia Holdings Ltd owes A$6.9 billion ($4.39 billion) to more than 10,000 creditors based on an initial review and will seek a three-month payment waiver from aircraft lessors, its administrators said.
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The growing worry for bondholders: Getting 'primed'
Bondholders in particularly hard-hit sectors like energy, travel and leisure have another issue to watch for as companies struggle to survive the economic shutdown - getting demoted by new debt issues.
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Ryanair may cut 10-20% of jobs in winter season, CEO tells German paper
Ryanair may have to lay off 10-20% of staff in the winter season as it will operate fewer flights due to the coronavirus crisis, Chief Executive Michael O'Leary said in a newspaper interview published on Friday.
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U.S. oil firm Continental Resources halts shale output, seeks to cancel sales
The largest oil producer in North Dakota has halted most of its production in the U.S. state and notified some customers it would not supply crude after prices dived into negative territory this week, people familiar with the matter said.
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Oil prices rise, capping week of historic turmoil over coronavirus
Oil prices climbed on Friday, adding to gains from earlier sessions after producers such as Kuwait said they would move to cut output and the United States approved another package to cope with the turmoil caused by the coronavirus outbreak.
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Asian stocks fall, Europe set to follow on doubts over coronavirus drug
Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.
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Nestle first-quarter sales beat estimates as consumers hoard pet food, coffee
Nestle reported a 4.3% rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Nescafe coffee to prepare for lockdowns caused by the coronavirus pandemic.
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Virgin Australia owes $4.4 billion, to seek aircraft lease waivers -administrator
Virgin Australia Holdings Ltd owes A$6.9 billion ($4.39 billion) to more than 10,000 creditors based on an initial review and will seek a three-month payment waiver from aircraft lessors, its administrators said.
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Nestle posts better than expected first-quarter sales as customers stockpile food
Nestle reported a 4.3% rise in organic sales growth for the first quarter, the food giant said on Friday, as consumers filled cupboards with Purina pet food and Poland Spring water to prepare for lockdowns caused by the coronavirus pandemic.
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Swatch CEO says China sales rise but global situation still grim
Swatch Group's sales at its own stores in China are up by almost a quarter during April, the watchmaker's Chief Executive Nick Hayek told Blick newspaper, but the global situation following the coronavirus outbreak remains tough.
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Oil prices rise more than $1 after week of turmoil amid viral outbreak
Oil prices jumped again on Friday, gaining more ground as producers like Kuwait said they would move to cut output and as the United States approved another package to cope with the economic disruption caused by the coronavirus outbreak.
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Brokerages restrict clients on positions they can take in oil
Several brokerages, including discount giant TD Ameritrade Corp are restricting customers from buying new positions in certain crude oil contracts after an unprecedented sell-off that sent prices below negative-$40 on Monday.
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