Cathay Pacific Airways Ltd said on Friday it made an unaudited loss of HK$4.5 billion ($580.53 million) at its full-service airlines in the first four months of the year and the financial outlook remained "very bleak" due to the pandemic.
U.S. stocks futures extended declines slightly on Friday after data showed retail sales plunged much more than expected in April, underscoring the deep economic slump caused by the coronavirus pandemic.
U.S. retail sales likely endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.
The airline industry is not likely to recover to pre-coronavirus levels for at least the next six to 12 months, Southwest Airlines Co Chief Executive Officer Gary Kelly said on Thursday.
Asian stocks struggled to extend gains on Friday and were on course to end the week lower as deteriorating U.S.-China relations undercut optimism over the reopening of major economies.
Australia's second largest bank Westpac Banking Corp on Friday said it has filed its defence in a case where it is accused of 23 million alleged breaches of anti-money laundering laws.
Amazon.com Inc said on Friday it would make the "appropriate" executive available to the U.S. House of Representatives Judiciary Committee to testify about allegations related to how the company uses third-party sellers' data.
The U.S. Justice Department has sent grand jury subpoenas to big banks seeking records as part of a broader investigation into potential abuse of a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus, two people with knowledge of the matter told Reuters.
Taiwan Semiconductor Manufacturing Co Ltd, which unveiled a $12 billion investment plan in Arizona on Friday, has not been given any assurances that it will be granted a license to allow it to sell U.S. technology to China's Huawei, a senior U.S. official said.
The U.S.-China trade deal reached in January is absolutely not falling apart and the two countries are still working on trade, White House adviser Larry Kudlow said on Friday.
U.S. retail sales endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.
A slump in technology stocks knocked Wall Street's main indexes lower on Friday, as signs of deteriorating trade relations between the United States and China added to economic worries due to the novel coronavirus pandemic.
Virgin Atlantic will not be able to resume passenger flights until August at the earliest if Britain introduces a 14-day quarantine for travellers, according to a source at the airline.
Shares in Wirecard fell more than 13% to their lowest in more than two years on Friday, traders pointing to a tweet about a business partner based in Dubai liquidating as the reason for the sudden sharp drop in afternoon trade.
White House economic adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.