Volvo beats first-quarter forecasts but warns of truck order cancellations
Sweden's AB Volvo on Thursday warned of weakening truck demand despite reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.
Sweden's AB Volvo on Thursday warned of weakening truck demand despite reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales.
Zoom Video Communications Inc said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks.
Caution gripped markets on Thursday, with stocks falling before a key Eurogroup meeting to discuss joint stimulus measures, offsetting optimism from a fresh round of U.S. coronavirus aid and a recovery in oil prices.
Volkswagen AG is making masks in China for distribution to Volkswagen plant employees in Europe, the German automaker said on Thursday as it prepares to restart European production.
Renault is in talks with the French government to secure a state-backed loan worth several billion euros to shore up its liquidity during the coronavirus pandemic, the French carmaker said on Thursday.
The dollar slipped against the currencies of oil-producing states on Thursday, giving up earlier gains as a bounce in crude prices gave succour to markets shaken by the massive coronavirus-induced drop in demand.
German car and truck maker Daimler reported a plunge of nearly 70% in first-quarter operating profit on Thursday due to the coronavirus pandemic and warned that the cash flow it uses to pay dividends would fall this year.
The International Air Transport Association's vice president for the Middle East said on Thursday that the industry body was not satisfied with regional government's efforts to support their airlines.
Italian digital services company Triboo said on Thursday it had started selling antibody tests for Covid-19 produced by China's SOBC Outdo Biotech, as Italy draws closer to easing the lockdown measures imposed to tackle the coronavirus outbreak.
German sportswear firm Adidas plans a multi-billion euro bond so that it no longer needs the state-backed loan it agreed to take earlier this month to help it get through the coronavirus crisis, Manager Magazine reported on Thursday.
South Korea's Hyundai Motor Co said on Thursday it expects only a modest recovery in Chinese auto demand and weak sales elsewhere this year after the coronavirus pandemic caused first-quarter vehicle sales to tumble 18%.
French spirits maker Pernod Ricard said on Thursday it was suspending a share buyback of up to 500 million euros ($541 million) and keeping a tight grip on costs in response to the coronavirus epidemic that cut third-quarter sales by 14.5%.
Ryanair must indicate the full price of the ticket when it displays offers on its website, the EU's top court said on Thursday.
Oil rose on Thursday, spurred by rising tensions in the Middle East, output cuts by producing nations to tackle oversupply and the promise of more government stimulus to ease the economic pain of the new coronavirus pandemic.
Zoom video conferencing app's user base grew by another 50% to 300 million in the last three weeks, as the company fought to quell a backlash around security and safety that has seen a number of governments and firms ban its applications.