Asian equity markets were poised to edge higher on Thursday after rebounding crude prices and the promise of more U.S. government aid to ease the economic pain inflicted by the coronavirus crisis helped calm global equity markets.
SEOUL: The coronavirus pandemic pushed South Korea's economy into its biggest contraction since 2008 in the first quarter, as self-isolation hit consumption and kept businesses closed and global trade slumped. Gross domestic product decreased by a seasonally adjusted 1.4 per cent in the first ...
Marathon Petroleum Corp , the largest U.S. oil refiner, warned on Wednesday of a first-quarter loss on a roughly US$7.8 billion write-down from a sharp fall in fuel demand.
SEOUL: South Korea's economy reported its biggest contraction since 2008 in the first quarter, as the spread of the coronavirus hit consumption, closed businesses and pummelled trade. Gross domestic product decreased by a seasonally-adjusted 1.4 per cent in the first quarter from the previous ...
German luxury carmaker Daimler AG on Wednesday reported preliminary first-quarter earnings before interest and tax that slumped 78per cent to 617 million euros, following disruptions caused by the coronavirus pandemic.
An increasing number of U.S. companies are selling bonds to repay lines of credit they drew down at the height of the coronavirus-induced market turmoil, an indication that the cash crunch facing much of Corporate America may be easing, according to Bank of America analysts.
The head of Boeing's 737 program has been tapped to oversee the planemaker's commercial programs as the company works to win approval to return the 737 MAX to service, which has been grounded for 13 months.
tables.
NEW YORK: Wall Street stocks bounced on Wednesday (Apr 22), recovering some of the losses from a two-session slide as US oil prices rallied following a volatile session. The Dow Jones Industrial Average finished up 456.94 points (1.99 per cent) at 23,475.82. The broad-based S&P 500 gained 62.75 ...
NEW YORK: Boeing plans to reduce the workforce in its civil aviation unit by 10 per cent to cut costs as the coronavirus causes a crisis for airlines, two sources familiar with the matter told AFP. The layoffs would impact the unit manufacturing the troubled 737 MAX, which has been...
