June 3, 2020

Lufthansa vows extensive revamp as losses balloon

Lufthansa has pledged a wide-ranging restructuring, from job cuts to sales of non-core assets, as it seeks to repay a 9 billion euro ($10.1 billion) state […]
June 3, 2020

Geely’s Volvo Cars sales soar 40% in May vs month-ago as virus curbs ease

Volvo Cars, owned by China’s Geely Holding, said on Wednesday it sold 40% more cars in May than in April, as restrictions to contain the spread […]
June 3, 2020

Nomura considers having fewer staff at headquarters permanently

Nomura Holdings Inc is considering having fewer staff work at its Tokyo headquarters permanently now that the coronavirus pandemic has spurred a huge shift to remote […]
June 3, 2020

U.S. senator Cotton cautions Britain over Huawei cooperation

U.S. Republican Senator Tom Cotton cautioned Britain on Wednesday that a decision to allow China’s Huawei a role in 5G networks could hurt military cooperation and […]
June 3, 2020

China drives global oil demand recovery out of coronavirus collapse

China’s oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that […]
June 3, 2020

Geely’s Polestar to open 20 showrooms in China to compete with Tesla

Polestar, the premium electric vehicle maker owned by China’s Geely, plans to open 20 showrooms in the mainland, as it prepares for delivery of its Polestar […]
June 3, 2020

Renault finalises 5 billion euro state-backed loan

Renault finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the carmaker’s finances in the wake of the coronavirus […]
June 3, 2020

Oil gains, with Brent above $40, as hopes rise for output cuts, recovery

Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a […]
June 3, 2020

Germany’s Lufthansa posts first-quarter net loss of 2.1 billion euros

German airline Lufthansa posted a net loss of 2.1 billion euros ($2.35 billion) in the first quarter, writing down the value of assets as the coronavirus […]
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