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Updated: 4 years 31 weeks ago

IATA not satisfied with Middle East efforts to support airlines

Thu, 04/23/2020 - 04:48
The International Air Transport Association's vice president for the Middle East said on Thursday that the industry body was not satisfied with regional government's efforts to support their airlines.
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Italy's Triboo starts selling Chinese COVID-19 antibody tests

Thu, 04/23/2020 - 04:47
Italian digital services company Triboo said on Thursday it had started selling antibody tests for Covid-19 produced by China's SOBC Outdo Biotech, as Italy draws closer to easing the lockdown measures imposed to tackle the coronavirus outbreak.
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Pernod Ricard sales hit by coronavirus, share buyback halted

Thu, 04/23/2020 - 04:36
French spirits maker Pernod Ricard said on Thursday it was suspending a share buyback of up to 500 million euros ($541 million) and keeping a tight grip on costs in response to the coronavirus epidemic that cut third-quarter sales by 14.5%.
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Ryanair must be clearer about full ticket price: EU court

Thu, 04/23/2020 - 04:30
Ryanair must indicate the full price of the ticket when it displays offers on its website, the EU's top court said on Thursday.
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Adidas plans a multi-billion euro bond: manager magazine

Thu, 04/23/2020 - 04:26
German sportswear firm Adidas plans a multi-billion euro bond so that it no longer needs the government-backed loan it agreed earlier this month to help it get through the coronavirus crisis, Manager Magazine reported on Thursday.
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For SoftBank's Son, coronavirus turns vision to illusion

Thu, 04/23/2020 - 04:18
SoftBank Group Corp founder Masayoshi Son's dream of a global tech empire is unravelling, with the coronavirus crisis compounding losses at his $100 billion Vision Fund and distress at his big bets portending more pain.
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Zoom users top 300 million as ban list grows

Thu, 04/23/2020 - 04:08
Zoom video conferencing app's user base grew by another 50% to 300 million in the last three weeks, as the company fought to quell a backlash around security and safety that has seen a number of governments and firms ban its applications.
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Sweden's Volvo hit by cancelled orders as pandemic creates 'new normal'

Thu, 04/23/2020 - 03:59
Sweden's AB Volvo on Thursday warned of stalling truck orders and a challenging adjustment to a "new normal" of feebler demand after reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.
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Stocks pause before key EU meeting on coronavirus aid

Thu, 04/23/2020 - 03:48
Caution gripped markets on Thursday, with stocks falling before a key Eurogroup meeting to discuss joint stimulus measures, offsetting optimism from a fresh round of U.S. coronavirus aid and a recovery in oil prices.
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Volkswagen making masks in China for its staff at European plants

Thu, 04/23/2020 - 03:37
Volkswagen AG is making masks in China for distribution to Volkswagen plant employees in Europe, the German automaker said on Thursday as it prepares to restart European production.
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Renault seeks state-backed loan to build cash buffer

Thu, 04/23/2020 - 03:20
Renault is in talks with the French government to secure a state-backed loan worth several billion euros to shore up its liquidity during the coronavirus pandemic, the French carmaker said on Thursday.
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Credit Suisse warns over coronavirus uncertainties after first-quarter earnings beat

Thu, 04/23/2020 - 03:19
Credit Suisse has bulked up on provisions for expected credit losses and cautioned over uncertainty during the coronavirus outbreak, even as it posted a 75% rise in first-quarter net profit on Thursday, far outpacing expectations.
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Dollar slips against commodity currencies as Brent surges

Thu, 04/23/2020 - 03:02
The dollar slipped against the currencies of oil-producing states on Thursday, giving up earlier gains as a bounce in crude prices gave succour to markets shaken by the massive coronavirus-induced drop in demand.
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Oil surges as producers trim output to respond to demand loss

Thu, 04/23/2020 - 02:30
Oil surged on Thursday amid signs that producers are cutting production to weather a collapse in demand as the coronavirus outbreak ravages world economies, while the U.S. state of Oklahoma also moved to help oil firms pump less.
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Hyundai first-quarter profit tumbles 44%, far short of estimates, as coronavirus slams China demand

Thu, 04/23/2020 - 02:27
South Korea's Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% to its lowest level for the quarter in a decade, as the coronavirus hit demand in China and due to losses at its financial business.
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UK's Aston Martin plans to restart St Athan unit, cuts executives' pay

Thu, 04/23/2020 - 02:22
Aston Martin said on Thursday it plans to restart its St Athan factory in south Wales on May 5 and will also resume operations at Gaydon later, after the coronavirus-led shutdowns forced the luxury car maker to suspend production at both sites.
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Volvo beats first-quarter forecasts but warns of truck order cancellations

Thu, 04/23/2020 - 02:18
Sweden's AB Volvo on Thursday warned of weakening truck demand despite reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.
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Zoom boosts encryption to quell safety concerns as users top 300 million

Thu, 04/23/2020 - 02:09
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks.
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Air France-KLM CEO bonus incompatible with state aid: Dutch Finance minister

Thu, 04/23/2020 - 01:49
Air France-KLM must scrap all of Chief Executive Ben Smith's bonus payments for this year if it wants to secure state aid, Dutch Finance minister Wopke Hoekstra said on Thursday.
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Asia stocks pull ahead on U.S. stimulus, oil rebound

Thu, 04/23/2020 - 01:27
Asian stock markets rose on Thursday as the combination of a rebound in crude prices from historic lows and the promise of more U.S. government aid to cushion the coronavirus-ravaged economy helped calm nervous markets.
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