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Reuters Business News
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Updated: 4 years 21 weeks ago
PG&E plans $5.75 bln equity raise to fund bankruptcy exit
California-based power provider PG&E Corp said on Monday it plans to raise $5.75 billion from public offerings as it tries to emerge from Chapter 11 bankruptcy by the end of this month.
Categories: Business News
Japan braces for worst postwar economic slump, pandemic tests policy response
Japan's economy braced for its worst postwar slump even as first-quarter GDP contracted less than initially thought, as the coronavirus crisis slams the brakes on global growth and raises pressure on Tokyo to cushion the blow to business and consumers.
Categories: Business News
EasyJet CEO says legal case against UK quarantine is strong
Britain's quarantine plan was rushed into existence, is out of proportion and should be challenged in the courts, according to the head of easyJet which has joined rivals in threatening legal proceedings.
Categories: Business News
Stocks inch up on quick economic revival hopes
World stocks inched higher on Monday, adding to a 42% surge from their March lows, as a surprise jump in last week's U.S. employment data fuelled hopes of a quicker global economic recovery from the coronavirus pandemic.
Categories: Business News
U.S. Fed's Main Street lending facility likely to start with a whimper
The Federal Reserve's most ambitious and complicated crisis relief program is set to launch in coming days but it is far from certain that the small and mid-sized businesses the $600 billion "Main Street Lending Facility" is meant to help will come clamoring for loans.
Categories: Business News
Fed says beating pandemic is key, but how will it know things are better?
With a full three months of responding to a global pandemic under their belt, U.S. Federal Reserve officials have united around one point: lasting progress on the economic front will be dictated by success in containing the spread of the coronavirus.
Categories: Business News
EasyJet CEO warns UK quarantine could lead to more job losses
EasyJet could have to make further job cuts if the government's quarantine policy continues for a long period, the airline's chief executive warned.
Categories: Business News
Galeries Lafayette's Champs Elysees store struggles as group faces $1 billion hit: CEO
Galeries Lafayette's [GALP.UL] new outlet on the Champs Elysees is struggling because people are staying away from the famous Paris boulevard due to COVID-19, according to its CEO, who said the crisis would hit the group to the tune of 1 billion euros.
Categories: Business News
UK luxury brand Mulberry to cut 25% of workforce
British luxury brand Mulberry plans to cut its global workforce by about 25% as it seeks to reduce its cost base with demand hit by the coronavirus pandemic.
Categories: Business News
Global stocks pause after recent run
World shares paused on Monday as investors turned cautious after a 42% surge since March, as economies continued to struggle with the effects of the coronavirus pandemic.
Categories: Business News
Thai Airways rehabilitation may take up to seven years, legal advisor says
The rehabilitation of flag carrier Thai Airways International Pcl may take up to seven years, the airline's legal advisor said on Monday.
Categories: Business News
HK residents rush for offshore bank accounts on China law worries: sources
Banks including HSBC, Standard Chartered and Citigroup have seen a spike in enquiries from Hong Kong residents about opening offshore accounts amid concerns stemming from China's decision to impose a national security law on the city, five people said.
Categories: Business News
Hong Kong activist investor David Webb to step back for health reasons
Hong Kong activist investor David Webb has said he will step back from posting his widely read critiques of companies and the city's government after being diagnosed with prostate cancer.
Categories: Business News
Jobs come first in South Korea's ambitious 'Green New Deal' climate plan
The first stages of a South Korean government “Green New Deal” aiming to retool one of the world’s most fossil fuel-reliant economies is focused instead on protecting jobs as the country seeks to stimulate a virus-ravaged economy, activists say.
Categories: Business News
AstraZeneca shares down 2% after report it approached Gilead over tie-up
Shares in Britain's AstraZeneca fell 2.1% in early trades on Monday after a report it had approached U.S. rival Gilead Sciences about a possible merger to form one the world's largest drug companies.
Categories: Business News
Possibly millions of jobs could be lost if planes stay grounded, Heathrow boss says
Hundreds of thousands of jobs, if not millions, could be lost in Britain if aviation is not able to resume quickly, the chief executive of London's Heathrow Airport said on Monday.
Categories: Business News
Emerging market corporate credit quality down but not out
The coronavirus pandemic has had a devastating impact on companies around the world, but in poorer emerging economies where balance sheets and credit ratings were already weak, the damage is looking particularly widespread.
Categories: Business News
Ryanair boss O'Leary says: We'll fly through UK's 'rubbish' quarantine
Ryanair will not cancel flights to and from the United Kingdom despite the introduction of a 14-day quarantine for international travellers because thousands of Britons are still booking holidays, boss Michael O'Leary said on Monday.
Categories: Business News
EasyJet directors Gurassa and Martin to step down from board this year
Two non-executive directors of EasyJet are to step down from the board later this year in line with corporate governance best practice, having each served for nine years, the British airline said on Monday.
Categories: Business News
Risk-taking billionaires offer rich reward for Credit Suisse
Credit Suisse is banking on risk-taking billionaires to drive revenue growth at its wealth management division.
Categories: Business News
