Boeing Co was sued for $336 million on Wednesday by a Kuwaiti leasing company that accused it of wrongly refusing to return advance payments on a now-canceled order for 40 of its troubled 737 MAX planes.
Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak.
International air passenger traffic could drop by as many as 1.2 billion travelers, or two-thirds, by September 2020, as the coronavirus pandemic weighs on demand, the United Nations aviation agency said on Wednesday in a statement, citing projections.
Xilinx Inc on Wednesday forecast first-quarter revenue below estimates and refrained from providing an annual outlook, citing the uncertainty caused by the coronavirus outbreak. The pandemic has ripped through the semiconductor industry, with lockdown orders interrupting operations and supply chains, even though many plants were eventually allowed to remain open. Xilinx shares, which closed 5% higher on Wednesday, shed most of those gains in extended trading.
German's Daimler AG said on Thursday it expected to report a near 70% plunge in a key first-quarter earnings figure, as demand for its Mercedes-Benz cars plunges amid the coronavirus pandemic.
Las Vegas Sands Corp on Wednesday posted a first-quarter loss as the coronavirus kept consumers at bay, but the casino operator struck an optimistic note as pent-up demand for gambling pointed to a speedy recovery in Asia.
Marathon Petroleum Corp , the largest U.S. oil refiner, warned on Wednesday of a first-quarter loss on a roughly $7.8 billion write-down from a sharp fall in fuel demand.
U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money.
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 Chinese economy will slowly recover from its first quarterly contraction since current records began, economists predicted in a Reuters poll, but they warned of a likely recession if conditions worsen again from the global coronavirus pandemic.
The Silicon Valley venture capital firm known for its early backing of companies such as Uber Technologies Inc is raising a new fund, but without one of its most prominent general partners, a source close to the firm said on Wednesday.
Two lessors to Indian carrier SpiceJet Ltd are in talks to terminate contracts and repossess planes via mutually agreed deals with the airline over missed payments, according to two sources directly involved in the discussions.
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.
Delta Air Lines Inc on Wednesday said it intended to raise $3 billion in debt by offering senior secured notes and entering into a new credit facility, in a bid to combat the slowdown in air travel demand induced by the coronavirus crisis.
The dollar pushed ahead against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.