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Ford expects loss of US$600 million for first quarter

Ford Motor Co said on Monday it expects first-quarter adjusted loss before interest and taxes to be about US$600 million, compared with a profit of US$2.4 billion a year earlier.

Markets

Dish cuts jobs, re-evaluates business in coronavirus fallout

Dish Network Corp has cut staff and is re-evaluating its business to cope better with the fallout from the coronavirus pandemic, the U.S. satellite TV provider told Reuters, without disclosing the number of employees laid off.

Markets

Fashion giant Inditex working at reduced capacity despite loosened Spanish lockdown

Employees at global fashion giant Inditex's 10 logistics centres in Spain - from where it sends garments to its stores worldwide - returned to work on Monday but only to less than half their normal levels of activity, workers said.

Markets

Performance Food signs deals with retailers to keep shelves stocked

U.S. food distributor Performance Food Group Co said on Monday it had signed agreements with 13 new retail partners and would have over 1,000 of its employees helping out at grocery stores as retailers try to keep their shelves stocked during the coronavirus pandemic.

Markets

Fading Vision Fund to tip SoftBank into first loss in 15 years

Softbank Group Corp said on Monday it expects its US$100 billion Vision Fund to book a loss of 1.8 trillion yen (US$16.5 billion) in the financial year ended March due to the deteriorating performance of its tech bets.

Markets

Thailand job losses may hit 10 million if COVID-19 outbreak drags on

BANGKOK: Thailand’s job losses may reach 10 million if the coronavirus outbreak continues for a few months, a business advisory council said on Monday (Apr 13). Southeast Asia’s second-largest economy is being hit hard by the virus outbreak and is heading into a recession. “We think about 7 ...

Markets

Volkswagen to aid US dealers supporting coronavirus relief efforts

Volkswagen AG said on Monday it would give financial assistance to its U.S. dealers who wish to use their loaner fleet to pickup and deliver essential supplies in areas affected by the COVID-19 pandemic.

Markets

SoftBank sees US$16.5 billion full year Vision Fund loss

Softbank Group Corp said on Monday it expects its US$100 billion Vision Fund to book a loss of 1.8 trillion yen (US$16.5 billion) in the financial year ended March due to the deteriorating performance of its tech bets.

Markets

Global footwear group’s Vietnam operations suspended for two days

Pou Chen Corp , the world's largest manufacturer of branded athletic and casual footwear for the likes of Nike and Adidas , has been ordered to suspend production at its Pouyuen Vietnam business over COVID-19 concerns, Vietnamese state media reported on Monday.

Markets

ADB announces US$20 billion coronavirus rescue package

The Asian Development Bank said Monday it will roll out a massive $20 billion package to help developing member nations weather the economic fallout from the coronavirus pandemic.

Markets

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