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U.S. banks in another mad grab for $310 billion in new small-business aid
U.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small-business aid released by the government, after 11th-hour changes to the first-come-first-served program led to technology issues for some lenders.
Categories: Reuters
Embraer takes Boeing to arbitration over failed deal as shares plummet
Brazil's Embraer SA on Monday said it had begun an arbitration process against Boeing Co, after the U.S. planemaker abruptly canceled a $4.2 billion deal over the weekend that was years in the making.
Categories: Reuters
Bayer takes tough stance in glyphosate settlement talks due to downturn
Bayer said the economic downturn and the need to preserve cash means it is taking a tougher stance in talks to settle claims over accusations that its glyphosate-based weedkillers cause cancer, even as its earnings rose.
Categories: Reuters
Exclusive: Investors to challenge Neiman Marcus bankruptcy loan, push for sale - sources
An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb's hedge fund Third Point LLC plans to challenge a $600 million financing package that Neiman Marcus Group has lined up for its looming bankruptcy, and will push the U.S. department store operator to sell itself, people familiar with the matter said on Sunday.
Categories: Reuters
U.S. oil plunges 18%, Brent hovers near $20 a barrel
Brent crude hovered around $20 a barrel and U.S. crude plunged 18% on Monday, driven lower by skittish investors fleeing the U.S. benchmark due to lack of available storage to deal with a coronavirus-induced collapse in demand.
Categories: Reuters
Airbus warns staff on jobs with its 'survival at stake'
European planemaker Airbus gave its starkest assessment yet of damage from the coronavirus crisis, telling the company's 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.
Categories: Reuters
Wall Street gathers steam as U.S. states prepare to reopen
U.S. stock markets jumped more than 1% on Monday as more states prepared to ease stay-at-home orders and investors geared up for one of the busiest weeks of quarterly earnings reports, including from tech titans Apple and Microsoft.
Categories: Reuters
GM suspends dividend, share buybacks as coronavirus hits sales
General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales.
Categories: Reuters
Airbus to furlough 3,200 staff at Broughton factory in Wales
Airbus will furlough around 3,200 staff at its Broughton factory in Wales, the European planemaker said on Monday after it warned staff that the coronavirus crisis had put its survival at stake.
Categories: Reuters
Fiat Chrysler resumes van production in Atessa, some other Italian operations
Fiat Chrysler resumed van production on Monday at its Atessa plant in central Italy, a week before the country plans to start lifting a national lockdown put in place to limit the spread of the coronavirus.
Categories: Reuters
U.S. banks gird for mad grab of another $310 billion in new small business aid
U.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small business aid released by the government, after it changed some of the rules of the first-come-first-served program at the 11th hour.
Categories: Reuters
Boeing negotiation for Embraer's commercial division 'no longer helpful': CEO
Boeing Co reached a point where negotiation for Embraer’s commercial aerospace division “was no longer helpful,” chief executive Dave Calhoun told shareholders on Monday at the U.S. planemaker's annual general meeting.
Categories: Reuters
Poland's LOT in talks to convert Boeing Dreamliners for freight
Polish airline LOT is in talks with Boeing to modify its 787 Dreamliner jets into temporary cargo carriers, a LOT spokesman told Reuters, in a move that could help to narrow losses from the coronavirus crisis.
Categories: Reuters
Adidas says worse to come as profits and sales plunge
Adidas warned of an even bigger hit to second-quarter sales and profits from coronavirus lockdowns, after the German sportswear firm reported first-quarter earnings were almost wiped out and said it had not yet seen a full rebound in China.
Categories: Reuters
U.S. health insurers benefit as elective care cuts offset coronavirus costs
As Americans delay elective surgeries and avoid doctors and hospitals during the coronavirus pandemic, healthcare spending declines have more than offset the added costs of COVID-19 care, insurance executives and experts say, boosting U.S. health insurer profits.
Categories: Reuters
Airlines get selective boost from coronavirus bailouts
Progress towards coronavirus bailouts buoyed the shares of Lufthansa and Air France-KLM on Monday, as the protracted travel slump turned up the heat on rivals yet to secure financing needed to tide them through the pandemic.
Categories: Reuters
Wall Street gains as U.S. states start to reopen
U.S. stock markets rose on Monday as more states prepared to lift coronavirus-induced curbs and investors geared up for the busiest week of quarterly earnings reports, including from tech titans Apple and Microsoft.
Categories: Reuters
Microsoft wins five-year deal with Coca-Cola to supply business software
Microsoft Corp on Monday said it had won a five-year deal with Coca-Cola Co to supply business software, including its Teams chat app and tools for customer service agents.
Categories: Reuters
Buffett and Abel, but not Munger, to field questions at Berkshire annual meeting
Warren Buffett's Berkshire Hathaway Inc will hold a truncated virtual annual meeting on Saturday where its billionaire chairman will be present but his longtime Vice Chairman Charlie Munger will not.
Categories: Reuters
Any aid for Germany's Lufthansa must have strings attached: senior SPD lawmaker
Any state support for Germany's largest airline, Lufthansa , must come with strings attached, a senior legislator for the Social Democrats said, suggesting that management should be banned from receiving dividends or bonuses.
Categories: Reuters
