Feed aggregator
Toyota sees 80% profit drop as virus wipes $14 billion off car sales
Toyota Motor Corp said on Tuesday it expects profit to drop by 80% to its lowest in nine years, as Japan's biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles.
Categories: Reuters
BOC Aviation says lessors may have to take back planes later this year
Aircraft lessors may need to start taking back some planes in the second half of the year, the CEO of BOC Aviation Ltd said, adding that the pandemic-hit aviation market could take until 2023 to fully rebound.
Categories: Reuters
ArcelorMittal offers $2 billion of shares, convertibles at discount
ArcelorMittal , the world's largest steelmaker, is issuing $2 billion of shares and convertible notes at a deep discount to accelerate debt reduction plans that have been slowed by the COVID-19 pandemic.
Categories: Reuters
Honda profits shrink to four-year low, coronavirus clouds outlook
Honda Motor Co on Tuesday posted its lowest operating profit in four years and refrained from releasing an earnings outlook for the current year because of uncertainty about the longer-term impact of the coronavirus on global car demand.
Categories: Reuters
China announces new tariff waivers for some U.S. imports
China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States.
Categories: Reuters
Popeyes sticks to China expansion plan in spite of virus
Fried chicken chain Popeyes is forging ahead with the opening of its first outlet in China despite the coronavirus outbreak and plans to set up "a few more" by the end of the year in several Chinese cities, its executives said on Tuesday.
Categories: Reuters
Honda declines to give outlook as profit slides amid coronavirus pandemic
Honda Motor Co on Tuesday posted its lowest operating profit in four years and refrained from releasing an earnings outlook for the current business year as the coronavirus pandemic hits global car demand.
Categories: Reuters
Honda says has enough cash but may issue bonds if new coronavirus waves hit
Honda Motor Co has enough cash on hand, equivalent to almost two months of sales, to weather the downturn caused by the coronavirus pandemic, but may issue bonds to raise funds if there is second or third wave of infections, a senior managing director at the company, Kohei Takeuchi said on Tuesday.
Categories: Reuters
Thyssenkrupp warns of massive third-quarter loss as COVID-19 adds to pain
German conglomerate Thyssenkrupp on Tuesday warned its operating loss could swell to 1 billion euros ($1.1 billion) in the current quarter citing the coronavirus pandemic.
Categories: Reuters
Thyssenkrupp CFO: we don't have a liquidity problem
Thyssenkrupp does not have a liquidity problem due to a 1 billion euro loan from state-owned lender KfW [KFW.UL] and the expected transfer of funds from the sale of its elevator division, its chief financial officer said.
Categories: Reuters
Germany's BaFin conducting multiple investigations into Wirecard: president
Germany's financial watchdog said on Tuesday that it was looking very closely at developments surrounding German payments company Wirecard .
Categories: Reuters
Saudi Aramco first-quarter net profit slides 25% as oil prices tumble
Saudi Arabian state oil giant Aramco on Tuesday reported a 25% fall in first-quarter net profit, missing analyst estimates, but its quarterly dividend was in line with a plan for a $75 billion base payout to shareholders for the year.
Categories: Reuters
Trump 'not interested' in reopening U.S.-China trade deal after report of Beijing discontent
U.S. President Donald Trump said on Monday he opposed renegotiating the U.S.-China "Phase 1" trade deal after a Chinese state-run newspaper reported some government advisers in Beijing were urging fresh talks and possibly invalidating the agreement.
Categories: Reuters
Toyota expects profit to drop 80% this year as virus saps car sales
Toyota Motor Corp on Tuesday said it expects profit to drop 80% to its lowest in nine years, as Japan's biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles.
Categories: Reuters
Ryanair CEO says UK quarantine plan is idiotic, unenforceable
Ryanair CEO Michael O'Leary on Tuesday said Britain's plan to have arriving passengers self-isolate in their accommodation for 14 days upon arrival was "idiotic" and effectively unenforceable.
Categories: Reuters
Once taboo, investors begin to imagine negative U.S. rates
Negative interest rates in the United States were once unimaginable. The coronavirus has changed that.
Categories: Reuters
Logitech sales surge as working from home boosts demand
Logitech International reported a 13.6% rise in quarterly sales on Tuesday as more people used its computer products while working from home due to the coronavirus crisis.
Categories: Reuters
Saudi Aramco first-quarter net profit slides 25% as oil prices fall
Saudi Arabian state oil giant Aramco on Tuesday reported a 25% fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the coronavirus slashed demand.
Categories: Reuters
Saudi Aramco first-quarter net profit falls 25% as oil prices slump
Saudi Arabian state oil giant Aramco on Tuesday reported a 25% fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the coronavirus slashed demand.
Categories: Reuters
Vodafone meets full-year expectations, pulls guidance on COVID-19 uncertainty
Vodafone , the world's second largest mobile operator, met expectations with a 2.6% rise in full-year core earnings to 14.9 billion euros ($16.10 billion), but did not give a current year outlook due to the uncertainty caused by the coronavirus.
Categories: Reuters