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Carlsberg first-quarter sales down 7%, expects further decline in second quarter

Reuters Business News - Thu, 04/30/2020 - 00:33
Carlsberg said on Thursday sales fell 7% in the first quarter with a further decline expected this quarter, as increased beer sales in supermarkets failed to balance the closure of bars and restaurants during the coronavirus lockdown.
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Virgin Australia has 20 potential buyers, deal seen by June: administrators

Reuters Business News - Thu, 04/30/2020 - 00:31
Virgin Australia Holdings Ltd's administrators said on Thursday they had given eight potential buyers access to a data room and were negotiating with another 12 about doing so as they seek to sell the country's second-biggest airline by end-June.
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Wirecard chairman voices support for embattled CEO: report

Reuters Business News - Thu, 04/30/2020 - 00:23
The chairman of Wirecard's supervisory board, Thomas Eichelmann, voiced support for the German payments company's chief executive, Markus Braun, despite controversy over previous months, according to an interview with a German newspaper.
Categories: Reuters

Wirecard chairman voices support for embattled CEO: Handelsblatt

Reuters Business News - Thu, 04/30/2020 - 00:01
The chairman of Wirecard's supervisory board, Thomas Eichelmann, voiced support for the German payments company's chief executive, Markus Braun, despite controversy over previous months, according to an interview with a German newspaper.
Categories: Reuters

SoftBank writes down WeWork by $6.6 billion, compounding portfolio misery

Reuters Business News - Wed, 04/29/2020 - 23:41
SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, as the virus compounds woes at one of the firm's biggest bets.
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Oil prices surge over 10% amid early signs of U.S. fuel demand recovery

Reuters Business News - Wed, 04/29/2020 - 23:32
Oil prices jumped on Thursday, extending steep gains in the previous session on signs the U.S. crude glut is not growing as quickly as expected and that gasoline demand battered by COVID-19 restrictions is starting to pick up.
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Millions of Americans likely applied for jobless benefits last week though wave is stabilizing

Reuters Business News - Wed, 04/29/2020 - 23:06
Millions more Americans likely filed claims for unemployment benefits last week, but the tide appears to be slowing, offering cautious hope of a peak in job losses from business closures and disruptions because of the novel coronavirus.
Categories: Reuters

Virgin Australia administrators halt bondholder payments, appoint Morgan Stanley for sale

Reuters Business News - Wed, 04/29/2020 - 21:51
Virgin Australia Holdings Ltd's administrators have halted payments to bondholders and appointed Morgan Stanley to help sell the airline within four months, said a participant in a meeting of creditors owed nearly A$7 billion ($4.58 billion).
Categories: Reuters

Tyson Foods temporarily pauses operations at beef facility in Dakota City

Reuters Business News - Wed, 04/29/2020 - 20:39
Tyson Foods Inc is halting operations at a beef facility in Dakota City, Nebraska until May 4 to complete a deep cleaning of the plant amid the coronavirus outbreak, a unit of the largest U.S. meat supplier said on Wednesday.
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Exclusive: Amazon turns to Chinese firm on U.S. blacklist to meet thermal camera needs

Reuters Business News - Wed, 04/29/2020 - 20:31
Amazon.com Inc has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor Uighurs and other Muslim minorities, three people familiar with the matter told Reuters.
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Anthem sees more people opting for govt plans as coronavirus hammers job market

Reuters Business News - Wed, 04/29/2020 - 20:29
Anthem Inc said on Wednesday that the COVID-19 pandemic could trigger a big shift in business mix and push more people into Medicaid or Obamacare health plans from employer-sponsored ones due to job losses across industries.
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Exclusive: Chesapeake Energy preparing bankruptcy filing

Reuters Business News - Wed, 04/29/2020 - 20:27
Chesapeake Energy Corp, the oil and gas exploration and production company that was at the forefront of the past decade's U.S. shale boom, is preparing a potential bankruptcy filing as it grapples with an unprecedented rout in energy prices, people familiar with the matter said on Wednesday.
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Facebook sees 'signs of stability' in ad spending after coronavirus drop

Reuters Business News - Wed, 04/29/2020 - 20:21
Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday and said it has seen "signs of stability" for sales in April after a plunge in March, in yet another signal that tech giants may weather the coronavirus-induced economic collapse better than other sectors.
Categories: Reuters

SoftBank sees $8.4 billion net loss on WeWork writedown

Reuters Business News - Wed, 04/29/2020 - 20:00
SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, extending the group's expected net loss to 900 billion yen.
Categories: Reuters

U.S. economy faces hard slog back from pandemic, Fed chief says

Reuters Business News - Wed, 04/29/2020 - 19:35
The head of the Federal Reserve on Wednesday dashed lingering hopes for a fast rebound from the coronavirus pandemic, saying the U.S. economy could feel the weight of consumer fear and social distancing for a year or more in a prolonged climb from a deepening hole.
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Fed keeps rates steady, vows to maintain coronavirus measures

Reuters Business News - Wed, 04/29/2020 - 19:35
Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy, saying the ongoing coronavirus pandemic will "weigh heavily" on the near-term outlook and poses "considerable risks" for the medium term.
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Tesla's Elon Musk calls coronavirus lockdowns 'fascist' as profit streak continues

Reuters Business News - Wed, 04/29/2020 - 18:52
Tesla Inc's outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak "fascist" as the electric carmaker posted its third quarterly profit in a row.
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Asian stocks set to track U.S. gains as virus treatment hopes lift confidence

Reuters Business News - Wed, 04/29/2020 - 18:37
Asian equity markets were poised to gain on Thursday, tracking Wall Street's rally after positive trial results of an experimental COVID-19 treatment, a U.S. Federal Reserve pledge to shore up the economy and a jump in oil prices.
Categories: Reuters

Wall Street rallies on promising coronavirus drug

Reuters Business News - Wed, 04/29/2020 - 17:50
U.S. stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.
Categories: Reuters

Microsoft revenue beats as remote work feeds cloud demand, boosts Teams

Reuters Business News - Wed, 04/29/2020 - 17:22
Microsoft Corp on Wednesday beat Wall Street sales and profit expectations, powered by sharp demand for its Teams chat and online meeting app and Xbox gaming services as the world shifted to working and playing from home because of the novel coronavirus pandemic.
Categories: Reuters
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