Business

U.S. demand for cars expected to rebound while travel, dining lag: ad agency

(Reuters) – Consumer demand for cars could begin to recover this month in the United States after steep declines due to the coronavirus pandemic, but the hard-hit travel and dining industries will likely continue to face difficult times, according to a major U.S. advertising agency. The new forecasts on Thursday from Universal McCann, a unit […]

Business

Coronavirus: BA owner sees ‘meaningful return’ of flights from July

The owner of British Airways is planning for a “meaningful return” of flights from July – but says it does not see a recovery in passenger traffic until 2023. International Airlines Group (IAG), which also has Aer Lingus and Spanish carrier Iberia in its stable, updated investors on its timetable just over a week after […]

Business

GSK sells $3.35 billion stake in Hindustan Unilever

HONG KONG/SINGAPORE (Reuters) – GlaxoSmithKline (GSK.L) said on Thursday it sold its stake in Unilever’s (ULVR.L) Indian business (HLL.NS) for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India. The funds will help GSK in its goal of reinvigorating its drug development pipeline, having made costly […]

Business

Bottler Coca Cola HBC's April sales lose fizz as lockdowns weigh

(Reuters) – Soft drinks bottler Coca Cola HBC AG (CCH.L) on Thursday said sales in April fell by more than a third as fast-food chains, theatres and other public arenas stayed shut to limit the spread of the new coronavirus during stay-at-home orders. The company, a bottler for U.S.-based beverage firm Coca-Cola (KO.N), said net […]

Business

O2 and Virgin Media merger to create £31bn telecoms giant

Virgin Media and O2 are to join forces in a UK merger that will create a £31bn company, their parent firms have announced. US media firm Liberty Global, the owner of the Virgin Media cable TV and broadband provider, said the agreement would unlock a £10bn investment in the UK market over five years once […]

Business

Smithfield Foods to restart South Dakota pork plant from May 7

(Reuters) – Smithfield Foods Inc will restart its plant in Sioux Falls, South Dakota from May 7 after being idled for more than three weeks due to the coronavirus outbreak, the world’s biggest pork processor said late on Wednesday. The company said it would take a phased approach to resuming its operations and that the […]

Business

A seventh JBS employee in Greeley has died of COVID-19

A seventh has died from novel coronavirus, according to Colorado data released Wednesday, and another 280 workers have confirmed cases, making it one of the largest outbreaks in the state. The latest death comes as meat-packing plants around the country, and in Colorado, have become a hot spot for virus outbreaks. Still, President Trump has […]

Business

Peloton gets lockdown boost as home workouts drive exercise bike sales

(Reuters) – Peloton Interactive Inc (PTON.O) raised its forecast for full-year revenue on Wednesday as “stay at home” orders led to a surge in sales of the company’s exercise bikes and fitness subscriptions, sending its shares up 5%. The strong results validated heightened expectations after analysts hailed Peloton, known for its $2,200 exercise bikes, as […]