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Judge questions VW's defence in landmark case over diesel damages

Reuters Business News - Tue, 05/05/2020 - 07:43
A German federal court judge cast doubt on Volkswagen's reasoning after the carmaker urged the court to dismiss a claim for damages brought by an owner of a diesel powered VW Sharan family van.
Categories: Reuters

Carbon emissions cuts do not mean Repsol will exit oil sector: CEO

Reuters Business News - Tue, 05/05/2020 - 07:39
A target to reduce carbon emissions to net zero by 2050 does not mean Spanish oil and gas firm Repsol will stop producing oil though it will focus on certain projects, Chief Executive Josu Jon Imaz said on Tuesday.
Categories: Reuters

Tesla stock rise appears to qualify CEO Musk for $700 million payday

Reuters Business News - Tue, 05/05/2020 - 07:34
Tesla Chief Executive Elon Musk appeared to qualify on Monday for a $700 million payday, just three days after he said the electric car company's stock price was too high.
Categories: Reuters

Wizz Air plans for easing of restrictions with holiday flights from June

Reuters Business News - Tue, 05/05/2020 - 07:27
Low cost airline Wizz Air said it is planning for the easing of travel restrictions by starting new routes from Britain's London Luton airport to holiday destinations in Portugal from 16 June and to Greece from July.
Categories: Reuters

Judge questions VW's defense in landmark case over diesel damages

Reuters Business News - Tue, 05/05/2020 - 07:26
A German federal court judge cast doubt on Volkswagen's reasoning after the carmaker urged the court to dismiss a claim for damages from a diesel customer.
Categories: Reuters

Thomson Reuters cuts sales outlook as narrowly misses earnings

Reuters Business News - Tue, 05/05/2020 - 07:26
Thomson Reuters reported higher quarterly sales and operating profit that fell slightly short of Wall Street estimates on Tuesday, while cutting its full-year sales outlook due to disruption to the global economy from the coronavirus pandemic.
Categories: Reuters

Uber, Lyft investors want to hear plans to get riders back in cars

Reuters Business News - Tue, 05/05/2020 - 07:25
As U.S. lockdowns and fears of the coronavirus pandemic stretch into a third month, who wants to take an Uber ride?
Categories: Reuters

Thomson Reuters narrowly misses earnings, cuts sales outlook

Reuters Business News - Tue, 05/05/2020 - 07:07
Thomson Reuters Corp reported higher quarterly sales and operating profit that fell slightly short of Wall Street estimates on Tuesday and cut is full-year sales outlook, citing unprecedented disruption in the global economy.
Categories: Reuters

Lufthansa not planning to buy rivals weakened by COVID-19 crisis -CEO

Reuters Business News - Tue, 05/05/2020 - 07:01
Lufthansa is not planning to buy rivals weakened by the coronavirus crisis, Chief Executive Carsten Spohr told shareholders at the company's virtual annual general meeting on Tuesday.
Categories: Reuters

Futures rise on oil gains, easing of lockdowns

Reuters Business News - Tue, 05/05/2020 - 06:53
U.S. stock index futures rose on Tuesday, building on gains in the previous session, as oil prices jumped and a slew of countries eased coronavirus-led restrictions in an attempt to revive their economies.
Categories: Reuters

Beiersdorf sells more hand cream, less sunscreen

Reuters Business News - Tue, 05/05/2020 - 05:45
Nivea-maker Beiersdorf said on Tuesday its La Prairie premium skincare brand and sun care products have been hit by the drop in international travel due to the coronavirus pandemic while sales of hand wash, hand creams and plasters jumped.
Categories: Reuters

Microsoft to invest $1 billion in Polish cloud project

Reuters Business News - Tue, 05/05/2020 - 05:19
Microsoft will invest $1 billion in Poland as part of a plan that will involve opening a data centre in the country to provide cloud services to businesses and government institutions, the company said in a statement on Tuesday.
Categories: Reuters

Thai Airways rescue plan is its last chance, says PM

Reuters Business News - Tue, 05/05/2020 - 05:17
The government is ready to back a rescue package for Thai Airways International Pcl , but it will entail a full restructuring and there will be no second chances, the prime minister.
Categories: Reuters

Hugo Boss expects 50% sales drop next quarter as crisis impact worsens

Reuters Business News - Tue, 05/05/2020 - 05:14
Hugo Boss is seeing signs of a sales rebound in China and online, but expects the impact of the coronavirus crisis to worsen before any recovery kicks in after first quarter sales fell by 17%, which knocked its shares.
Categories: Reuters

BNP warns of 2020 profit fall as crisis wipes out equity trading

Reuters Business News - Tue, 05/05/2020 - 04:51
BNP Paribas set aside more than half a billion euros in loan provisions on Tuesday as the coronavirus crisis wiped out the French bank's revenue from equity derivatives trading and knocked a third off its first quarter profit.
Categories: Reuters

Italy's CNH Industrial aims for full production by end of May

Reuters Business News - Tue, 05/05/2020 - 04:20
Vehicle and equipment maker CNH Industrial said on Tuesday it planned to return progressively to full operations at most of its facilities around the world by the end of May, in line with the easing of coronavirus lockdowns.
Categories: Reuters

Liechtenstein's LGT Group to be split up in 2021

Reuters Business News - Tue, 05/05/2020 - 04:13
Liechtenstein-based financial group LGT will be split into three separate firms in 2021, all directly held by the Prince of Liechtenstein Foundation, LGT said on Tuesday.
Categories: Reuters

Aer Lingus says reviewing social distancing procedures after packed flight

Reuters Business News - Tue, 05/05/2020 - 03:51
Irish airline Aer Lingus said it was reviewing its social distancing procedures after a flight on Monday was packed with passengers.
Categories: Reuters

Airline SAS agrees credit facility backed by Sweden, Denmark

Reuters Business News - Tue, 05/05/2020 - 03:01
Airline SAS said on Tuesday it had signed a 3.3 billion Swedish crown ($336 million) three-year revolving credit facility agreement, 90% guaranteed by Sweden and Denmark's governments, as it looked to beat a path through the coronavirus crisis.
Categories: Reuters

BNP Paribas says revenue resilient despite equity trading hit

Reuters Business News - Tue, 05/05/2020 - 02:46
BNP Paribas' profit fell by a third in the first quarter, as the coronavirus crisis hit equity trading and prompted the euro zone's biggest bank to set aside more than half a billion euros in loan provisions.
Categories: Reuters
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