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AMC says enough cash till July as Trump readies plan to reopen America
AMC Entertainment Holdings Inc, the world's largest theater operator, said on Friday it had enough cash balance to withstand a global suspension of operations until a partial reopening in July, as the U.S. government plans to reopen the country's economy.
Categories: Reuters
Oil mixed as Chinese data offsets Trump plans to ease lockdown
Oil prices were mixed on Friday as China's worst quarterly economic contraction on record offset President Donald Trump's plans to revive the U.S. economy.
Categories: Reuters
Volkswagen China boss sees sales in China on recovery course
Volkswagen Group said sales of its cars dropped by 23% on the year to 2 million cars in the January to March period but was hopeful on Friday that the Chinese market would recover soon as it moves out of the coronavirus crisis.
Categories: Reuters
Trump administration working to ease drilling industry cash crunch
The Trump administration is seeking to ease a severe cash crunch in the drilling industry by raising loan limits available under a coronavirus stimulus package and by barring lenders from discriminating against drillers, according to Energy Secretary Dan Brouillette.
Categories: Reuters
Wall Street bounces on Boeing bump, Trump's restart plan
U.S. stocks jumped on Friday following President Donald Trump's new guidelines to reopen the economy and on a report of a drug to potentially treat COVID-19, while Boeing headed higher on plans to resume production.
Categories: Reuters
World Bank says no 'free ride' for commercial creditors on debt relief
Commercial creditors need to support debt relief for the poorest countries and cannot just "free ride" on a suspension in debt payments by official bilateral creditors, World Bank President David Malpass said on Friday.
Categories: Reuters
Italy's firms shake lockdown using shortcut in coronavirus law
Weeks into Italy's coronavirus lockdown, thousands of Italian entrepreneurs have been given a bureaucratic shortcut to market.
Categories: Reuters
U.S.'s Pompeo: Nations should rethink use of China's Huawei amid coronavirus
U.S. Secretary of State Mike Pompeo on Friday said China's role in the global coronavirus pandemic is likely to force countries to rethink their telecommunications infrastructure, including the adoption of China-based Huawei's 5G networks.
Categories: Reuters
AMC says it has enough cash to withstand theater shutdowns until July
AMC Entertainment Holdings Inc, the world's largest theater operator, said on Friday its current cash balance was enough to withstand a global suspension of operations until a partial reopening in July.
Categories: Reuters
Kansas City pulls 2020 forecast on pandemic concerns; Mexico shipments drive profit beat
U.S. railroad operator Kansas City Southern withdrew its full-year earnings forecast on Friday on coronavirus concerns, but topped Wall Street estimates for quarterly profit as higher Mexico shipments boosted sales its chemicals and petroleum business.
Categories: Reuters
UBS, HSBC sell down AMS stake left after rights issue
Lenders UBS and HSBC have cut their combined stake in AMS to below 1% from the 15% they were forced to take after weak demand for the sensor maker's capital increase, a notification to the Swiss stock exchange showed.
Categories: Reuters
After market storm, hedge funds launch to catch the recovery wave
At least eight European hedge funds are launching portfolios betting on a recovery in corporate debt and emerging markets after the coronavirus pandemic triggered the biggest market rout in a generation.
Categories: Reuters
P&G profit tops estimates as shoppers stock up on diapers, toilet rolls
Procter & Gamble Co beat Wall Street expectations for quarterly profit on Friday as consumers stockpiled on everything from diapers and detergent to toilet rolls amid sweeping lockdowns to curb the spread of the coronavirus.
Categories: Reuters
Credit Suisse gets approval to take majority stake in China JV
Credit Suisse has received regulatory approval to take a majority stake in its Chinese investment banking joint venture, the bank said in a statement on Friday.
Categories: Reuters
Super-charged global stocks race towards second weekly gain
World stock markets made a super-charged sprint towards a second straight week of gains on Friday after President Donald Trump laid out plans to gradually reopen the coronavirus-hit U.S. economy following similar moves elsewhere.
Categories: Reuters
China crude oil runs hit 15-month low as virus cripples demand
China's daily crude oil throughput in March sank to a 15-month low with state refiners maintaining deep output cuts as the coronavirus pandemic erodes demand, but there are some signs of recovery as the country begins to ease virus-related curbs.
Categories: Reuters
China's long-term growth will not be affected by COVID-19: stats bureau
China's long-term growth potential will not be affected by the short-term impact of the coronavirus pandemic, a spokesman for the National Bureau of Statistics said on Friday.
Categories: Reuters
Instant View: China's first-quarter GDP posts first decline on record as virus shuts down economy
China's economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
Categories: Reuters
Deutsche Bank investor files motion to oust chair at shareholder meeting
Deutsche Bank investor Riebeck-Brauerei on Friday filed a motion seeking a vote to oust the lender's chairman Paul Achleitner at this year's annual general meeting, according to a document by the activist shareholder's lawyer.
Categories: Reuters
Kansas City Southern withdraws full-year forecast on coronavirus uncertainty
U.S. railroad operator Kansas City Southern on Friday withdrew its full-year forecast for earnings and revenue, citing economic uncertainty created by the coronavirus pandemic.
Categories: Reuters