Siemens on Friday said it expected "even stronger impacts" from the coronavirus pandemic in the weeks ahead as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.
The U.S. economy is expected to have shed 22 million jobs in April, tripling the nationwide unemployment rate to 16%, when new government data is published Friday morning.
Hydrogen has long been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments to kickstart growth, advocates spy a golden chance to drag the niche energy into the mainstream of a post-pandemic world.
Air New Zealand Ltd said on Friday it would boost domestic capacity to 20% of usual levels once the country further loosens pandemic restrictions, but it cannot offer its lowest fares due to social distancing requirements.
German industrial company Siemens is accelerating its cost-savings programme to deal with the impact of the coronavirus pandemic, Deputy Chief Executive Roland Busch said on Friday.
Siemens has secured a 3 billion euro ($3.25 billion) loan that will be transferred to the group's Energy unit, which is scheduled to be spun off at the end of September, Chief Executive Joe Kaeser told Bloomberg TV on Friday.
Siemens is preparing for a prolonged economic trough triggered by the COVID-19 pandemic, Chief Executive Joe Kaeser told CNBC on Friday after releasing fiscal second-quarter results.
Asian shares rose on Friday as a phone call between U.S. and Chinese officials raised hopes that trade tensions were easing,
Siemens Chief Financial Officer Ralf Thomas said the moderate sales decline expected by the German industrial company for its 2020 business year would mean a decline of up to 5%.
Samsung Group heir Jay Y. Lee's vow to end dynastic succession at South Korea's biggest conglomerate following three generations of Lee family control sparked skepticism on Thursday.
Liberty Global has agreed to merge its Virgin Media cable company with the O2 mobile business owned by Spain's Telefonica to create a major new force in the British telecoms market.
Air France-KLM is opening talks with its French unions on workforce cuts, Chief Executive Ben Smith told Reuters, as the airline group warned of mounting losses with no clear end in sight to the coronavirus crisis.
Two weeks of coronavirus shutdown were enough to hit Air France-KLM with an 815 million-euro ($880 million) first-quarter operating loss, the airline group said on Thursday - predicting demand could take "several years" to recover.
Planemakers Airbus and Boeing have asked Air France to delay taking some wide-body jets after a slowdown in manufacturing caused by the coronavirus crisis, the head of parent Air France-KLM told Reuters.
Asian shares pared early losses on Thursday after Chinese exports proved far stronger than even bulls had imagined, while U.S. bond investors were still daunted by the staggering amount of new debt set to be sold in coming weeks.