Business

GE aircraft leasing unit cancels 69 737 MAX orders

General Electric Co’s (GE.N) aircraft leasing subsidiary on Friday canceled 69 orders for Boeing Co’s (BA.N) grounded 737 MAX jets as it evaluates its order book during the coronavirus pandemic, the latest setback for the U.S. planemaker. The unit, GECAS, maintains 29 MAX aircraft in its fleet and has an additional 82 jets still on […]

Business

Norwegian Air to overhaul its strategy in wake of pandemic: bondholder

Norwegian Air (NWC.OL), which is seeking creditor support for its rescue plan, has told bondholders it will overhaul its strategy in the wake of the coronavirus pandemic, according to an investor who took part in a briefing by the airline on Friday. Norwegian shook up transatlantic air travel with cut-price fares, becoming the biggest foreign […]

Business

Uniper installs new directors at Fortum’s request

Uniper (UN01.DE) announced on Friday the appointment of new directors following the resignation of a raft of supervisory board members earlier this month, after Finland’s Fortum (FORTUM.HE) secured a 69.6% stake in the German energy group. In early April Fortum demanded the immediate resignation of the independent shareholder representatives on the Supervisory Board, after it […]

Business

Volvo Cars to restart production in Sweden next week

Volvo Cars will reopen its Torslanda factory and offices in Sweden next week after overhauling its production processes to help prevent coronavirus infections, following a three week shutdown caused by the pandemic, the carmaker said on Friday. Volvo’s factory in Ghent, Belgium, will reopen on 20 April, but at reduced production output and the carmaker […]

Business

Motor maker Weg emerges as battered Brazil stock market’s champion

In a bleak year that has seen Brazil’s Bovespa .BVSP slump to the worst performance of any major world stock market amid a coronavirus-linked retreat from risk, electric motor maker Weg SA (WEGE3.SA) has been the index’s improbable champion. Traded on the Brazilian stock exchange for nearly a half century and part of the benchmark […]

Business

Nigeria’s oil hub quarantines 22 Exxon Mobil workers: governor

Nigeria’s Rivers State has quarantined 22 Exxon Mobil Corp. employees for violating an order introduced last month restricting movement into the state to curb the spread of the coronavirus, its governor said on Friday. River State’s capital Port Harcourt is the hub of the oil industry in Africa’s biggest producer of crude. “Security agencies arrested […]

Business

World Bank, IMF face growing calls to widen debt relief for poor nations

The World Bank and International Monetary Fund should seek case-by-case solutions to ease debt burdens on middle-income countries hit by the coronavirus pandemic, key shareholders said on Friday, fueling calls to widen relief already provided to the poorest countries. United Nations Secretary-General Antonio Guterres, in separate remarks, also urged creditors to grant a debt standstill […]