Markets

IKEA store owner Ingka Group, the world's biggest furniture retailer, aims to start reopening shops in Europe in May after closures and sliding demand due to the COVID-19 pandemic slashed group sales by 60 per cent, its chief executive said.

SYDNEY: Hong Kong's Cathay Pacific Airways will lay off 286 cabin crew based in the United States and furlough 201 pilots based in Australia and Britain, it said on Friday (Apr 17), as the coronavirus pandemic has virtually halted global travel. The carrier has grounded most of its planes because...

Numerous US and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies: Chevron, ConocoPhillips and Occidental Petroleum: account for more than half of the cuts.

Nasdaq Inc has applied with the U.S. Securities and Exchange Commission to offer temporary relief to companies listed on its exchange with stock prices and market values that have fallen below required minimums due to disruptions during the coronavirus crisis.

Investors will be hunting for companies that can rein in costs, preserve cash and avoid amassing big inventories during the coronavirus crisis as Europe Inc. prepares to report the steepest profit fall since the 2008 global financial meltdown.

U.S. airlines are estimated to be sitting on more than US$10 billion in travel vouchers that should have been cash refunds from canceled flights, a group of senators released on Friday.

US Secretary of State Mike Pompeo on Friday said China's role in the global coronavirus pandemic is likely to force countries to rethink their telecommunications infrastructure, including the adoption of China-based Huawei's 5G networks.

Some U.S. life insurers are deciding not to gamble on older Americans during the coronavirus crisis by temporarily suspending applications from certain age groups or imposing tougher requirements.

U.S. stock index futures bounced more than 2per cent on Friday as President Donald Trump laid out plans to re-open an economy shut down by the coronavirus outbreak and on reports of encouraging data on a drug to potentially treat COVID-19.

An outlet of nasi lemak franchise Crave and a hostel were among the businesses fined for breaking COVID-19 “circuit breaker” measures over the past week, Enterprise Singapore (ESG) and the Singapore Tourism Board (STB) said in a joint release on Friday (Apr 17).