Feed aggregator
Siemens sees bigger hit from coronavirus impact coming as second-quarter profit plunges
Siemens on Friday said it expected "even stronger impacts" from the coronavirus pandemic in the weeks ahead as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.
Categories: Reuters
Siemens has secured 3 billion euro loan for Energy spin-off: BBG TV
Siemens has secured a 3 billion euro ($3.25 billion) loan that will be transferred to the group's Energy unit, which is scheduled to be spun off at the end of September, Chief Executive Joe Kaeser told Bloomberg TV on Friday.
Categories: Reuters
Siemens prepares for COVID-19 trough to last 6-9 months: CNBC
Siemens is preparing for a prolonged economic trough triggered by the COVID-19 pandemic, Chief Executive Joe Kaeser told CNBC on Friday after releasing fiscal second-quarter results.
Categories: Reuters
Shares rise as U.S., China trade negotiators talk, but bleak job data awaited
Asian shares rose on Friday as a phone call between U.S. and Chinese officials raised hopes that trade tensions were easing,
Categories: Reuters
Siemens sees sales decline of up to 5% for 2020 financial year
Siemens Chief Financial Officer Ralf Thomas said the moderate sales decline expected by the German industrial company for its 2020 business year would mean a decline of up to 5%.
Categories: Reuters
Neiman Marcus's attempt to manage crushing debt undone by COVID-19
On March 17, about a week after the World Health Organization declared COVID-19 a pandemic, Neiman Marcus Group had no choice but to close its 67 stores.
Categories: Reuters
Air New Zealand to boost capacity as virus curbs ease, but higher fares expected
Air New Zealand Ltd said on Friday it would boost domestic capacity to 20% of usual levels once the country further loosens pandemic restrictions, but it cannot offer its lowest fares due to social distancing requirements.
Categories: Reuters
Siemens steps up cost-saving programme to tackle coronavirus downturn
German industrial company Siemens is accelerating its cost-savings programme to deal with the impact of the coronavirus pandemic, Deputy Chief Executive Roland Busch said on Friday.
Categories: Reuters
Siemens sees strongest coronavirus impact in next quarter as second-quarter profit plunges
Siemens expects "even stronger impacts" from the coronavirus pandemic in the weeks ahead, it said on Friday as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.
Categories: Reuters
Asian shares up as U.S., China trade negotiators talk
Asian shares rose on Friday as investors focused on talks between U.S. and Chinese trade officials and solid corporate earnings rather than the looming release of data expected to show the worst U.S. unemployment rate in more than 70 years.
Categories: Reuters
Japan's ANA suspends recruitment citing coronavirus fallout
ANA Holdings Inc , the operator of Japan's top airline, said on Friday it would suspend its recruitment process at its 37 group companies due to an uncertain business climate caused by the coronavirus pandemic.
Categories: Reuters
After surprise apology, Samsung heir pressed to explain family's intentions
Samsung Group heir Jay Y. Lee's vow to end dynastic succession at South Korea's biggest conglomerate following three generations of family control sparked skepticism in some quarters and worry in others for the future of the country's corporate champions.
Categories: Reuters
Rupert Murdoch to forgo his News Corp annual cash bonus
News Corp Executive Chairman Rupert Murdoch will forgo his cash bonus for the current fiscal year due to the impact of COVID-19 pandemic on business, the company said on Thursday.
Categories: Reuters
Payments giant Fiserv names Bisignano to succeed Yabuki as CEO
Payments giant Fiserv Inc said Thursday that Frank Bisignano would become the company's chief executive on July 1, with long-time head Jeffery Yabuki remaining on as executive chairman until the end of the year.
Categories: Reuters
Lyft to require passengers and drivers to wear masks
Lyft will require both passengers and drivers to wear masks and complete a health certification program, including confirming before each ride that they are not displaying symptoms associated with the novel coronavirus, the company said on Thursday.
Categories: Reuters
Exclusive: U.S. companies got emergency government loans despite having months of cash
When American companies recently applied for U.S. government loans meant to help small businesses survive the coronavirus crisis, they had to certify they needed the cash to cover basic needs like salaries and rent. The money, up to $10 million, was meant to tide them over for eight weeks.
Categories: Reuters
How Deere, Caterpillar kept plants running during the coronavirus outbreak
While Detroit automakers' unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere and Caterpillar have won the support of the United Auto Workers and other unions to run their facilities during the pandemic.
Categories: Reuters
The great potato giveaway: U.S. farmers hand out spuds to avoid food waste
When Tina Yates pulled her truck up to a mall in western Washington state on Thursday, workers waved her past hundreds of cars waiting to pick up free russet potatoes.
Categories: Reuters
Michigan governor allows coronavirus-hit manufacturers to reopen on May 11
Michigan Governor Gretchen Whitmer on Thursday said the state's factories can reopen on May 11, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic.
Categories: Reuters
Asia stocks poised to rise as upbeat earnings trump jobs gloom
Asian stocks were set to track Wall Street gains on Friday, after upbeat corporate earnings took the focus off upcoming data that is expected show the worst U.S. unemployment rate in more than 70 years.
Categories: Reuters
