TUI burning 250 million euros cash a month: CEO
Travel group TUI , which is struggling with the impact of the coronavirus pandemic, is burning cash at a rate of 250 million euros ($271 million) a month, its CEO said on Wednesday.
Travel group TUI , which is struggling with the impact of the coronavirus pandemic, is burning cash at a rate of 250 million euros ($271 million) a month, its CEO said on Wednesday.
CMA CGM has arranged a 1.05 billion euro ($1.1 billion) syndicated loan to be 70% guaranteed by the French government, the shipping and logistics company announced on Wednesday.
As the COVID-19 pandemic wipes out jobs and empties offices across the world, companies in Central Europe that provide remote, lower-cost services for multinationals are emerging as winners in the new business order.
Las Vegas Sands said it has ended plans to open an integrated resort (IR) casino in Japan, dealing another blow to Japan's attempts to energise its economy through tourism.
Amazon plans to extend the closure of its French warehouses until May 18, the U.S. e-commerce giant said on Wednesday.
Tourism will recover to its pre-coronavirus levels by 2022 at the latest and European holidays will restart in July said Fritz Joussen, the chief executive of travel group TUI .
Asian shares recovered early losses and crept into positive territory on Wednesday, but stock futures pointed to a lower European open as worries about a slow economic recovery from the coronavirus weighed on global sentiment.
South Korea's largest airline, Korean Air , said on Wednesday its board decided to sell about 1 trillion won ($816.55 million) in shares to raise funds as airlines' finances come under strain from grounded fleets due to travel restrictions and crippled demand from the coronavirus pandemic.
Global stocks and oil prices fell on Wednesday as fears about a second wave of coronavirus infections gripped financial markets.
German lender Deutsche Bank plans to pump at least 200 billion euros ($216.8 billion) into so-called sustainable financing and investments by 2025, its first formal targets for doing so.
Amazon plans to extend until May 18 the closure of its six French warehouses, which have been closed since April 16 after court rulings ordering the U.S. e-commerce giant to restrict deliveries during the coronavirus pandemic.
Japan has no plan to change its schedule regarding the launch of integrated resorts (IR) - Las Vegas-style complexes that include casinos and shopping arcades - despite Las Vegas Sands' decision to end its plan to open an IR casino in Japan, a top government spokesman said on Wednesday.
Shipping group A.P. Moller-Maersk on Wednesday warned of a sharp drop in global container volumes due to the coronavirus pandemic, sending its shares down sharply.
Aston Martin posted a deep first-quarter loss after sales dropped by nearly a third due to the impact of the coronavirus crisis, though the luxury car maker said production of a crucial sport utility vehicle was on track.
Emirates Airline from May 21 plans to operate scheduled flight services from Dubai to London Heathrow, Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne, it said in a statement on Wednesday.