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American Airlines posts US$2.2 billion loss on pandemic, first since bankruptcy exit

American Airlines on Thursday posted its first quarterly loss since emerging from bankruptcy in 2013, and said it expects second-quarter cash burn rate to be about US$70 million per day, as the COVID-19 pandemic brought travel to a near standstill.

Markets

BlackRock names London-based executive as new stewardship chief

BlackRock Inc on Thursday said it named London-based financial executive Sandy Boss as its new head of investment stewardship, bringing a more international structure to the top asset manager's voting on topics like climate change and social issues.

Markets

Nissan plans to restart output at UK’s biggest car factory in June

Nissan will restart phased production in early June at its northern English Sunderland factory, Britain's biggest car plant, as the sector tries to resume operations amid the coronavirus outbreak.

Markets

US FDA moving with ‘lightning speed’ on Gilead’s COVID-19 drug – Bloomberg

The U.S. Food and Drug Administration is working at "lightning speed" to review data on Gilead Sciences Inc's experimental antiviral drug remdesivir in treating COVID-19 disease, the head of the agency told Bloomberg in an interview.

Markets

US economy may not need more stimulus to weather coronavirus hit: White House official

The U.S. economy may be able to weather the hit from the coronavirus with the stimulative policies already in the pipeline without the need for more measures to spur activity, a White House adviser said on Thursday.

Markets

Don’t ‘drop workers’: Companies and workers should take the long view, says PM Lee in May Day message

SINGAPORE: Employers should make every effort to keep their workers and help them through the difficult COVID-19 outbreak period, said Prime Minister Lee Hsien Loong on Thursday (Apr 30) in his May Day message. “They should not drop workers at the first sign of trouble,” said Mr Lee in...

Markets

Singapore’s economy will open up ‘step by step’ as COVID-19 cases fall: PM Lee

SINGAPORE: Singapore’s economy will not restart all at once, but will have to open up “step by step” even after “circuit breaker” measures are relaxed, said Prime Minister Lee Hsien Loong on Thursday (Apr 30) in his May Day message. Three weeks into a circuit breaker period that has...

Markets

Federal Reserve to expand reach of Main Street lending program

The U.S. Federal Reserve on Thursday said it was expanding the scope and eligibility of its soon-to-launch "Main Street Lending Program" to reach a greater range of small- and medium-sized businesses seeking emergency financing to weather the disruption caused by the coronavirus pandemic.

Markets

Twitter sales beat estimates but ad trends alarm investors

Twitter Inc on Thursday said its ads sales slightly rebounded in Asia after a plunge due to the coronavirus outbreak and it had accelerated work on tools to attract advertisers, becoming the latest tech company to report a lighter blow from the pandemic than forecast.

Markets

Macy’s to reopen 68 stores, targets all within six weeks

Macy's Inc plans to reopen 68 U.S. stores on Monday in states that have loosened coronavirus lockdowns, the department store operator said on Thursday, as more retailers sought to get business going after a crushing month of closures.

Markets

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