REUTERS: American Airlines Group Inc has threatened to cancel some of its orders for Boeing Co’s grounded 737 MAX jets unless the planemaker helps secure funding for them, the Wall Street Journal reported on Friday. American Airlines has struggled to secure financing for 17 jets it had expected Boeing to […]
Business
REUTERS: Electric vehicle startup Rivian, which is backed by Amazon and Ford Motor and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a US$2.5-billion investment round led by T Rowe Price, Rivian said Friday (Jul 10). The deal comes on […]
MOSCOW: AliExpress Russia, an e-commerce venture between Chinese online shopping giant Alibaba and Russian partners, said it was aiming for annual turnover of US$10 billion by 2022-2023, up from what analysts estimate is about US$6 billion now. Chief Executive Dmitry Sergeev, who did not give details on current turnover, told […]
SYDNEY: Australia has granted provisional approval to Gilead’s remdesivir as the first treatment option for COVID-19 in the country, the Therapeutic Goods Administration (TGA) said on Friday (Jul 10). The approval is for adults and adolescent patients with severe COVID-19 symptoms and have been hospitalised, the Australian regulator said. Remdesivir […]
LONDON: Liverpool manager Jurgen Klopp confirmed on Friday (Jul 10) that captain Jordan Henderson’s season is over due to a knee injury. Henderson was forced off in the midweek 3-1 win over Brighton following a collision with Yves Bissouma but the Reds boss revealed surgery is not needed and expects […]
Sales at Italian fashion group Giorgio Armani returned to growth in 2019, a year in advance of its target, after a three-year planned fall from streamlining its distribution and brand portfolio under just three labels. MILAN: Sales at Italian fashion group Giorgio Armani returned to growth in 2019, a year […]
The S&P 500 and Dow rose in choppy trading on Friday, boosted by financial stocks but the sentiment was fragile as a record rise in coronavirus cases in the United States threatened to further damage Corporate America. REUTERS: The S&P 500 and Dow rose in choppy trading on Friday, boosted […]
LONDON: Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody’s warned on Friday (Jul 10), while its debts as a share of GDP will surge by 24 percentage points. Moody’s said the UK government’s latest stimulus package, announced this week, would aid […]
LONDON: The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday (Jul 10) but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last […]
MUMBAI: India reported a record 26,506 new coronavirus cases on Friday (Jul 10) as authorities reimposed lockdowns in its most populous state and in an industrial hub, home to automakers, drug factories and brewers. The new cases pushed India’s tally to nearly 800,000 cases, the world’s third-biggest outbreak, behind only […]