FRANKFURT (Reuters) – Lufthansa (LHAG.DE) shares slumped 5.7% on Monday morning after CEO Carsten Spohr said the company would seek to avoid a grounding and insolvency in a battle with the airline’s biggest shareholder over the terms of a 9-billion-euro bailout. Lufthansa has been hard hit by what is expected to be a protracted travel […]

MUNICH (REUTERS) – Wirecard AG on Monday (June 22) said there was a likelihood that the €1.9 billion (S$3 billion) reported missing from its accounts simply did not exist in the first place. The scandal-hit German payments firm said it was also withdrawing its full-year 2019 and first-quarter 2020 financial results. “The Management Board of […]

NEW YORK/BANGALORE (Reuters) – L’Oreal SA, Unilever and other multinationals that acquired personal-care brands founded by Black people are moving to reassure their core customers, some of whom have pledged in the wake of racial-justice protests to direct their spending toward only Black-owned companies. L’Oreal’s multicultural beauty brand Carol’s Daughter, which was founded by a […]

TOKYO/WASHINGTON (Reuters) – Asian shares and U.S. stock futures wobbled in choppy trade on Friday as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.06%. U.S. S&P 500 e-minis ESc1 moved in and out of the […]

NEW YORK (Reuters) – Wall Street struggled for direction on Thursday as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns against data that suggested the U.S. economy might not bounce back with quick, V-shaped recovery. A range-bound S&P 500 see-sawed through much of the session and was […]

WASHINGTON (Reuters) – The White House announced on Thursday that President Donald Trump intends to nominate Caroline Crenshaw to fill a Democratic vacancy at the U.S. Securities and Exchange Commission (SEC). Crenshaw, a senior SEC attorney, would fill a commissioner slot that has been vacant since February, when Rob Jackson, whom Crenshaw advised, left to […]

(Reuters) – The S&P 500 and Dow retreated on Thursday as an uptick in coronavirus infections in parts of the United States threatened to upend bets of a swift economic recovery, with data showing weekly jobless claims remained elevated. Several U.S. states including Texas, Florida and Oklahoma reported a surge in new infections. However, President […]

WASHINGTON (Reuters) – A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. Initial claims for state unemployment benefits totaled a seasonally adjusted 1.508 million for the week ended […]

(Reuters) – Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year – and more pain to follow – as airlines park or retire thousands of aircraft due to the coronavirus pandemic. Worth about $80 billion in sales last year, the industry […]

TOKYO/WASHINGTON (Reuters) – Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and China crushed hopes of a quick global economic comeback from the pandemic. S&P 500 mini futures EScv1 fell 1.2% in early Asian trade while MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost […]