Top managers at Nivea-maker Beiersdorf are waiving 20% of their fixed compensation between April and December, Chief Executive Stefan De Loecker said on Wednesday, adding that the level of management below them was also foregoing 5% of its pay.
General Electric reported a steep decline in first-quarter revenue as the industrial giant took a hit amid the coronavirus pandemic.
U.S. stock index futures rose on Wednesday after Google-parent Alphabet reported upbeat quarterly results, while investors braced for data that could show a sharp contraction in the domestic economy.
General Electric Co reported a 7.6% drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
HSBC Holdings PLC's first-quarter profit nearly halved from a year-ago, missing estimates, after boosting provisions against bad loans as the coronavirus pandemic hits borrowers worldwide.
Swiss drugmaker Novartis reported rising first-quarter sales and profit that beat analyst expectations and confirmed its 2020 targets as the coronavirus pandemic prompted patients to stock up on their prescriptions in advance.
Germany has agreed to help airline Lufthansa with a rescue package worth about 9 billion euros ($9.74 billion) in return for a blocking minority and one or two supervisory board mandates, Business Insider cited company sources as saying.
HSBC Holdings PLC's on Tuesday warned of more earnings pain to come after first-quarter profit nearly halved as it boosted provisions against bad loans expected to rise amid the coronavirus pandemic.
The Federal Reserve has two core jobs assigned by Congress: Foster maximum employment and stable prices.
The world's largest wealth manager, UBS , reported a 40% increase in first-quarter net profit on Tuesday, as clients increased trading activity during market turmoil sparked by the coronavirus outbreak and as it extended more loans to its wealthy clients.
South Korean asset manager Mirae Asset Global Investments has been sued over a $5.8 billion deal to buy 15 U.S. hotels from China's Anbang Insurance Group after missing a deadline for the deal's closing, a Mirae spokesman said on Tuesday.
Oil prices slumped again on Tuesday amid concern about dwindling crude storage capacity worldwide and fears that fuel demand may only recover slowly once countries ease curbs imposed on economic and social activity to combat the coronavirus pandemic.
British retailer Marks & Spencer said it was planning for a slow return to shopping and had taken steps to shore up its finances for 18 months, including scrapping next year's dividend, to cope with the impact of the coronavirus crisis
BP's first quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead.