Reuters Business News

Two lessors to Indian carrier SpiceJet Ltd are in talks to terminate contracts and repossess planes via mutually agreed deals with the airline over missed payments, according to two sources directly involved in the discussions.

Asian equity markets were poised to edge higher on Thursday after rebounding crude prices and the promise of more U.S. government aid to ease the economic pain inflicted by the coronavirus crisis helped calm global equity markets.

Delta Air Lines Inc on Wednesday said it intended to raise $3 billion in debt by offering senior secured notes and entering into a new credit facility, in a bid to combat the slowdown in air travel demand induced by the coronavirus crisis.

Las Vegas Sands Corp on Wednesday posted a first-quarter loss as the coronavirus kept consumers at bay, but the casino operator struck an optimistic note as pent-up demand for gambling pointed to a speedy recovery in Asia.

Marathon Petroleum Corp , the largest U.S. oil refiner, warned on Wednesday of a first-quarter loss on a roughly $7.8 billion write-down from a sharp fall in fuel demand.

U.S. pipeline operator Kinder Morgan Inc on Wednesday reported a smaller-than-expected quarterly profit and cut its adjusted core earnings forecast for the year, following a coronavirus-induced decline in fuel demand and a crash in crude prices.

German luxury carmaker Daimler AG on Wednesday reported preliminary first-quarter earnings before interest and tax that slumped 78% to 617 million euros, following disruptions caused by the coronavirus pandemic.

Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to better safeguard meeting data and offer protection against tampering. The new version of the app, Zoom 5.0, will release within the week, the company said in a statement.

An increasing number of U.S. companies are selling bonds to repay lines of credit they drew down at the height of the coronavirus-induced market turmoil, an indication that the cash crunch facing much of Corporate America may be easing, according to Bank of America analysts.

Buyout firm Sycamore Partners disclosed on Wednesday it had walked away from a $525 million deal to acquire a majority stake in Victoria's Secret, after the lingerie brand shut down stores and furloughed staff in response to the coronavirus outbreak.

U.S. railroad operator CSX Corp on Wednesday withdrew its financial forecasts and said it was evaluating future spending as business shutdowns triggered by the COVID-19 pandemic weigh on the U.S. economy.

The head of Boeing's 737 program has been tapped to oversee the planemaker's commercial programs as the company works to win approval to return the 737 MAX to service, which has been grounded for 13 months.

Boeing Co was sued for $336 million on Wednesday by a Kuwaiti leasing company that accused it of wrongly refusing to return advance payments on a now-canceled order for 40 of its troubled 737 MAX planes.

Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak.

International air passenger traffic could drop by as many as 1.2 billion travelers, or two-thirds, by September 2020, as the coronavirus pandemic weighs on demand, the United Nations aviation agency said on Wednesday in a statement, citing projections.

U.S. railroad operator CSX Corp on Wednesday withdrew its financial forecasts and said it was evaluating future spending as business shutdowns because of the COVID-19 pandemic weigh on the U.S. economy.

The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus lockdowns end, including social distancing in airports and planes, while some U.S. airlines are taking their own protective measures.

A jump in the price of oil and the promise of more government stimulus to ease the economic pain inflicted by the coronavirus pandemic helped global equity markets surge on Wednesday, prompting investors to edge out of perceived safe-haven assets like U.S. Treasuries.

Xilinx Inc on Wednesday forecast first-quarter revenue below estimates and refrained from providing an annual outlook, citing the uncertainty caused by the coronavirus outbreak.

Wall Street surged on Wednesday as oil prices recovered and Congress looked on course to approve nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.