Abbott posts 16% fall in profit, suspends 2020 forecast on coronavirus concerns
Abbott Laboratories Inc posted a 16% drop in quarterly profit on Thursday partly due to a tax expense and suspended its full-year forecast citing the...
Volkswagen withdraws outlook after first-quarter operating profit drops 81%
Volkswagen Group on Thursday withdrew its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused operating profit to drop 81% in the...
Portugal’s TAP asks for state-backed loan to survive coronavirus
Portugal’s flag carrier TAP has asked for a state-backed loan to aid the survival of the company, which is at its most fragile since it...
Vietjet agrees loan repayment delays with lenders
Vietjet Aviation has reached agreements with its lenders to delay repayments on loans it used to buy aircraft, the Vietnamese budget airline said on Thursday....
G20 countries agree debt freeze for world’s poorest countries
Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world’s poorest countries through the end...
IMF’s Georgieva wants to triple concessional financing for poor countries
The International Monetary Fund is looking to triple its concessional financing for the poorest countries to over $18 billion to help them respond to the...
Morgan Stanley profit plunges 32% on COVID-19 impact
Morgan Stanley posted a 32% fall in quarterly profit on Thursday as its advisory and wealth management businesses took a hit from the economic fallout...
Volkswagen withdraws 2020 outlook after renvenue drop 8% in first quarter
Volkswagen Group on Thursday said that it was withdrawing its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused a fall in...
Barrick expects drop in first-quarter gold production
Barrick Gold Corp said on Thursday it expects first-quarter gold production of 1.25 million ounces, lower than its output in the year-ago period....
Daimler/BMW’s ‘FREE NOW’ service to restructure, integrate French app Kapten
The ‘FREE NOW’ taxi ride-hailing service run by Daimler and BMW announced on Thursday a corporate restructuring, which could lead to job cuts, and unveiled...