Real Time Financial News Website
Lufthansa (LHAG.DE) 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. The carrier,…
American International Group Inc. was hit by about $272 million in costs tied to the coronavirus as the insurance industry braces for what Chief Executive Officer Brian Duperreault said would…
L Brands Inc. agreed to cancel a deal that would have given private equity firm Sycamore Partners control of beleaguered lingerie chain Victoria’s Secret, which now faces an uncertain future…
U.S. stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns about the latest U.S.-China tensions and downbeat sentiment from the…
We may get a better estimate of when Walt Disney’s (NYSE:DIS) theme parks worldwide will potentially reopen when the media giant reports its fiscal second-quarter results on Tuesday afternoon. Speculation…
Apple Inc and Alphabet Inc’s Google on Monday said they would ban the use of location tracking in apps that use a new contact tracing system the two are building…
Businesses have raced to secure loans under a new scheme to help smaller firms through the lockdown crisis. The Bounce Back Loans scheme went live on Monday, with Barclays seeing…
Mobile operator O2 may be set to merge with broadband giant Virgin Media to create one of the country’s largest entertainment and telecoms firms. A tie-up between two big players…
Dunkin’ Brands Group Inc.’s quarterly results suffered as customers brewed their own morning coffee at home while locked down due to the COVID-19 pandemic. The coffee-and-donut seller joins a number…
J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink…
U.S. electric carmaker Tesla Inc has applied for a licence to supply electricity in the United Kingdom, The Telegraph reported on Saturday. The purpose of the licence from the energy…
Billionaire investor Warren Buffett on Saturday said the United States’ capacity to withstand crises provides a silver lining as it combats the coronavirus, even as he acknowledged that the global…
While most prominent tech companies are fretting about the effects of the COVID-19 pandemic, Netflix Inc. may become even more important in the daily lives of Americans forced to stay…
Royal Dutch Shell on Thursday cut its dividend for the first time since the 1940s after a first-quarter loss – and warned virus-ravaged oil prices will take time to fully…
British aero-engine maker Rolls-Royce Holdings Plc (RR.L) is considering cutting up to 15% of its workforce, a source close to the company told Reuters, with its customers cutting production and…
Tesla’s founder Elon Musk wiped $14bn off the carmaker’s value after tweeting that its share price was too high. The tweet also knocked $3bn off Mr Musk’s own stake in…
Apple saw growth for the first three months of the year, as falling device sales in China were offset by demand for its streaming services due to the coronavirus lockdown.…
Amazon sales surged in the first three months of the year, as the coronavirus lockdown boosted demand for the firm’s groceries, online marketplace and cloud computing services. Sales in the…
David Einhorn, a famed short-seller, questioned Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), Thursday on Twitter, about the automaker’s accounting practices. What Happened Greenlight Capital founder Einhorn, who…
Maruti Suzuki India Ltd., which produces more than half the cars on India’s roads, recorded no sales in the domestic market last month after output was shuttered. The nation’s biggest…
American Airlines (AAL.O) on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in 2013, and warned of a roughly $70 million per day…
Twitter Inc (TWTR.N) on Thursday said its ads sales slightly rebounded in Asia after a plunge due to the coronavirus outbreak and it had accelerated work on tools to attract…
British Airways is set to cut up to 12,000 jobs from its 42,000-strong workforce due to a collapse in business because of the coronavirus pandemic. The airline’s parent company, IAG,…
MTN Nigeria reported revenue growth of 16.7 per cent to N329.2bn in the first quarter ended March 31, 2020 compared with N282.1bn in the same period in 2019. The growth,…
Ford Motor Company and its luxury segment Lincoln Motor Company have announced the shelving of their plans to build a new electric vehicle (EV) with Michigan-based EV startup Rivian –…
Detroit auto maker and iconic American manufacturer Ford Motor’s first-quarter earnings missed Wall Street estimates. But that actually isn’t the bad news: Results in the second quarter are about to…
Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline business from the coronavirus pandemic. The aerospace giant plans to…
The preparations reflect Boeing’s confidence that it can tap the capital markets to strengthen its finances, even as the largest U.S. planemaker weighs seeking government aid. Boeing has lined up…
Pepsi warned on Tuesday organic revenue and operating profits would suffer in the second quarter as major buyers of its sodas, such as restaurants, theaters and stadiums, were forced to…
Adidas has said that sales will fall by 40% in the second quarter after the German sportswear giant saw profits drop more than 90% in the first three months of…