British aero-engine maker Rolls-Royce said it was scrapping its targets and its final dividend, taking steps to shore up its finances as airlines around the world ground planes due to the coronavirus pandemic.
Oil prices slipped on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.
HSBC shareholders in Hong Kong are considering calling for an extraordinary meeting with management and taking possible legal action against the bank's decision to scrap dividend payments.
As Germany rolls out a 750 billion-euro economic stimulus package, officials and experts are discussing whether German lenders, including Deutsche Bank AG and Commerzbank AG, will be able to weather the economic fallout of coronavirus without state help.
Emaar Properties , the largest listed developer in the United Arab Emirates, has suspended work on major projects in Dubai, sources familiar with the matter said, as the coronavirus pandemic exacerbates a real estate slowdown in the business hub.
Stocks jumped on Monday as investors were encouraged by a slowdown in coronavirus-related deaths and new cases, while oil prices skidded after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive.
Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.
French carmaker and Peugeot-owner PSA announced on Monday a further 3 billion euros ($3.3 billion) worth of loans to strengthen its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.
BMW said on Monday that group sales dropped by 20.6% to 477,111 vehicles in the first quarter as the outbreak of coronavirus took its toll and many retail outlets temporarily closed.
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases, though a delay in talks between Saudi Arabia and Russia to cut supply sent oil tumbling again.
U.S. stock index futures jumped about 4% on Monday after President Donald Trump expressed hope that the coronavirus health crisis in the United States was "leveling-off" in some of the country's hardest-hit areas.
The head of Britain's biggest telecoms firm BT said he would donate his salary to health workers for at least six months and award a pay rise to his frontline staff who are maintaining broadband networks during the coronavirus shutdown.
Belgium's Brussels Airlines, a Lufthansa subsidiary, has extended its suspension of flights until at least May 15, it said on Monday.
Peugeot-owner PSA said on Monday it had secured a further 3 billion euros ($3.3 billion) of loans, strengthening its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis.
French tyre company Michelin said on Monday that its leading executives had agreed to take pay cuts as a gesture of solidarity to help deal with the negative effects of the hit to its business from the COVID-19 outbreak.