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Exclusive: Aurubis to win EU approval for Metallo takeover - sources
Europe's biggest copper smelter Aurubis is set to win EU antitrust approval for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, people familiar with the matter said on Tuesday.
Categories: Reuters
Harley-Davidson cuts dividend payout, suspends share buybacks
Harley-Davidson Inc cut its quarterly dividend to just 2 cents and suspended share buybacks on Tuesday to boost its cash reserves even as it reported a smaller-than-expected decline in quarterly profit.
Categories: Reuters
Merck profit beats, coronavirus uncertainty weighs on forecast
Merck & Co Inc beat analysts' estimates for quarterly profit on Tuesday on strong demand for its blockbuster cancer drug, Keytruda, but expects coronavirus-led lockdowns to weigh on the treatment's sales in the next few quarters.
Categories: Reuters
Nissan slashes full-year results forecast, sees operating loss
Nissan Motor Co on Tuesday said it expected to post its first annual operating loss in 11 years as the Japanese automaker struggles to recover from plunging vehicle sales as the coronavirus pandemic has sapped demand for cars.
Categories: Reuters
Lufthansa CEO warns of too much government influence: Die Zeit
Lufthansa would be hard to steer if governments had too much influence on the company, its CEO was quoted as saying by German weekly Die Zeit on Tuesday, as the airline is struggling with the impact of the coronavirus pandemic.
Categories: Reuters
Remote work revenue could help Microsoft offset coronavirus impacts, analysts say
When Microsoft Corp reports earnings on Wednesday, analysts expect some areas of its business to take a hit from the novel coronavirus pandemic, with lower-than-expected sales in areas like advertising on its LinkedIn social network.
Categories: Reuters
Merck profit rises, cuts 2020 forecast over COVID-19 uncertainty
Merck & Co Inc on Tuesday posted a 10.4% rise in first-quarter profit, helped by strong sales of cancer therapy Keytruda, but the drugmaker lowered its 2020 profit forecast due to uncertainty from the COVID-19 pandemic.
Categories: Reuters
China discounts, cheaper iPhone to cushion Apple from virus blow to demand
Apple Inc's discounts on the iPhone 11 in China and the release of a new low-price SE model have put the company in a better position than rivals to weather a coronavirus-related plunge in global smartphone demand.
Categories: Reuters
Harley-Davidson quarterly profit falls about 45%
Harley-Davidson Inc reported a drop of about 45% in quarterly profit on Tuesday as motorcycle sales took a hit from global lockdowns due to the coronavirus pandemic.
Categories: Reuters
Futures jump with focus on earnings, easing lockdowns
U.S. stock index futures climbed higher on Tuesday ahead of the next round of quarterly earnings reports, with investors also keenly looking at the safety of reopening economies hit hard by the coronavirus-induced shutdowns.
Categories: Reuters
PepsiCo beats revenue estimates but scraps forecast over virus crisis
PepsiCo Inc beat first quarter revenue estimates, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic.
Categories: Reuters
March global sales slump spells trouble ahead for Japan's carmakers
Global vehicle sales by Japanese automakers dropped by 34% in March when the coronavirus outbreak spread worldwide, and are set to fall further in the months ahead as the crisis continues.
Categories: Reuters
Lufthansa still considering protection from creditors: company source
The idea of German flagship carrier Lufthansa using a type of protection from creditors is not yet off the table, a source at the airline said on Tuesday.
Categories: Reuters
Berlin government, Lufthansa pursue rescue deal: sources
Lufthansa and the Berlin government are pursuing a 9 billion euro ($9.76 billion) rescue package for the airline, company and government sources said on Tuesday, but gave no timing for an agreement after a report overnight said the deal was complete.
Categories: Reuters
PepsiCo scraps forecast due to coronavirus crisis
PepsiCo Inc reported a rise in first-quarter revenue, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic.
Categories: Reuters
HSBC sees mounting credit losses after pandemic halves first-quarter profit
HSBC Holdings PLC on Tuesday warned of more earnings pain ahead after first-quarter profit nearly halved as it set aside a hefty $3 billion in bad loan provisions due to the coronavirus pandemic.
Categories: Reuters
Southwest posts first quarterly loss in nine years and warns of more coronavirus clouds
Southwest Airlines Co posted on Tuesday a $94 million net loss in the first quarter, its first quarterly loss in nine years, due to the coronavirus pandemic and said it sees no major improvement in air travel in the second quarter.
Categories: Reuters
Ford investors keen for details on when automaker will restart U.S. operations
Investors already know how the coronavirus outbreak has hurt Ford Motor Co's bottom line, so when the automaker releases first-quarter results on Tuesday they will focus on how and when Ford plans to restart North American operations.
Categories: Reuters
Wealth revamp helps UBS to 40% net profit rise in first quarter
The world's largest wealth manager, UBS , reported a 40% rise in quarterly profit on Tuesday, with its core business enjoying its best three months since 2008, thanks to a restructure and rich clients reshuffling portfolios to respond to the coronavirus outbreak.
Categories: Reuters
Norwegian Air slightly amends terms of conversion plan after talks with bondholders
Norwegian Air , the budget carrier that is fighting for its survival, has made some amendments to the terms of its debt-to-equity conversion plan in response to demands from bondholders, it said on Tuesday.
Categories: Reuters