Germany stamps authority on Lufthansa with $9.8 billion lifeline

Lufthansa, German government agree on $9.8 billion rescue package: sources

FRANKFURT/BERLIN (Reuters) – Germany threw Lufthansa (LHAG.DE) a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline. FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread of the coronavirus disease (COVID-19) … Read more

French billionaires raise stakes in defence of publisher Lagardere

French billionaires raise stakes in defence of publisher Lagardere

PARIS (Reuters) – France’s business elite closed ranks around publishing group Lagardere (LAGA.PA) on Monday with LVMH’s Bernard Arnault and Vivendi’s (VIV.PA) Vincent Bollore swooping in to bolster its defences against London-based hedge fund Amber Capital. FILE PHOTO: Bernard Arnault, Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton SE, attends the company’s shareholders meeting … Read more

Canada’s banks to cement status as solid investments in a crisis

Canada's banks to cement status as solid investments in a crisis

(Reuters) – Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them. FILE PHOTO: A man walks in front of buildings in the financial district in Toronto, January 28, 2013. REUTERS/Mark Blinch … Read more

China demands US withdraw sanctions against blacklisted firms

China demands US withdraw sanctions against blacklisted firms

China urged US officials Monday to undo new sanctions against nearly three dozen companies amid growing tensions between the two nations. The demand came three days after the US Department of Commerce blacklisted more than 30 Chinese firms and government enterprises with alleged links to China’s military activities and human-rights abuses. Washington “violated the basic … Read more

Lufthansa and German government agree $9.8 billion rescue package

Lufthansa, German government agree on $9.8 billion rescue package: sources

FRANKFURT/BERLIN (Reuters) – The German government and Lufthansa (LHAG.DE), which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout. FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread of the coronavirus disease (COVID-19) continues, at the … Read more

Germany’s Scholz: Lufthansa rescue package should yield ‘small profit’ for state

Germany's Scholz: Lufthansa rescue package should yield 'small profit' for state

German Finance Minister Olaf Scholz addresses the media during a news conference in Berlin, Germany May 14, 2020. Michael Sohn/Pool via REUTERS BERLIN (Reuters) – Germany’s rescue package for flagship carrier Lufthansa (LHAG.DE) is a “very, very good solution” that is taking into account the needs of both the company and taxpayers, Finance Minister Olaf … Read more

Lufthansa says Germany approves stabilization package

Lufthansa says Germany approves stabilization package

FILE PHOTO: A Lufthansa Airbus A320-200 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, March 14, 2019. REUTERS/Emmanuel Foudrot/File Photo FRANKFURT (Reuters) – Germany’s new Economic Stabilization Fund (WSF) has approved a 9 billion euro ($9.80 billion) stabilization package for Lufthansa (LHAG.DE), Germany’s flagship carrier said on Monday. … Read more

Hundreds of public companies keeping coronavirus loans

Hundreds of public companies keeping coronavirus loans

Hundreds of publicly traded companies appear to be keeping government-backed loans meant to help small businesses weather the coronavirus crisis. Only 68 of the 424 public firms that disclosed receiving $1.3 billion in loans from the federal Paycheck Protection Program had pledged to return them as of early Monday morning, according to regulatory filings compiled … Read more