Lufthansa, Air France-KLM shares rise on bailout progress
Shares in Air France-KLM and Lufthansa led European stock market gains on Monday on hopes that government bailouts would see them through the coronavirus crisis.
Shares in Air France-KLM and Lufthansa led European stock market gains on Monday on hopes that government bailouts would see them through the coronavirus crisis.
Stock markets rallied on Monday as the Bank of Japan added more stimulus to cushion the impact of the coronavirus and investors cheered news more countries were easing lockdowns, though the oil price took another tumble with storage running short.
Troubled hospital operator NMC Health said on Monday it requested its shares be delisted from the London Stock Exchange after they were suspended two months ago.
National Australia Bank Ltd asked investors for A$3.5 billion ($2.2 billion) and slashed its dividend to the lowest in almost three decades, as its first-half profit tumbled in part due to charges associated with the coronavirus pandemic.
Norwegian Air could run out of cash by mid-May unless its proposed financial rescue plan is approved by creditors and shareholders, the budget carrier warned on Monday.
Britain's airlines want the government's coronavirus wage support scheme to be extended beyond June, maintaining the assistance for longer with a only slow recovery in air travel expected.
Luckin Coffee said on Monday China's State Administration for Market Regulation was carrying out work to understand the coffee chain's operating situation and added that it was actively cooperating.
Oil prices fell on Monday on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic.
German insurer Allianz has struck a deal to invest in the bancassurance business of Spanish lender BBVA , two sources close to the matter told Reuters, adding that an announcement could come as early as Monday.
U.S. chipmaker Broadcom has offered to settle an EU antitrust investigation into its exclusivity deals with TV and modem makers, EU antitrust regulators said on Monday, a move that would stave off a possible hefty fine.
China's top market regulator has launched an inspection into Luckin Coffee , joining the country's securities watchdog in doing so as the coffee chain comes under scrutiny for fabricating millions of dollars worth of sales deals.
Japan's Nissan Motor Co Ltd will slash its domestic auto production plans by 70% in May and 43% in June, documents seen by Reuters show, as the impact of the coronavirus shakes the troubled automaker.
Quarantines and lockdowns at large U.S. power plants are threatening to squeeze a multibillion-dollar slice of revenue that General Electric Co is counting on to help lift profits.
Imperial Brands is withdrawing from the premium cigar business to focus on vaping, with a 1.23 billion euro ($1.33 billion) sale of hand-rolled makes including Cohiba and Montecristo which will help it pay down debt.
Chinese e-commerce giant Alibaba Group Holding Ltd has demoted Jiang Fan, one of its most senior executives, after an internal investigation into allegations of improper behaviour, according to a person familiar with the matter.