Nissan to Trim Financial Guidance by $2.8 Billion in Restructuring Plans

Japan based automaker Nissan Motor Co (7201) is looking forward on holding meeting to restructure financial guidance of the company for the year citing unavoidable disruptions caused by coronavirus pandemic which has resulted to reduced demand due to restricted movement of individuals. This information was first published on Bloomberg News indicating Nissan is planning to […]

Musk Reopening California Factory Says He’s Ready to be Arrested

Billionaire Chief executive of U.S electric car maker Tesla Inc. (TSLA) Elon Musk announced he will be reopening the company’s factory in California to resume normal production activities. This is the only factory the electric vehicle manufacturer has in the United States. Reopening the factory would mean defying orders from county’s health authorities directing the […]

Shanghai Disneyland Reopens Without Much Pomp

Following a three months closure period after global breakout of deadly coronavirus finally Disneyland lovers in China have a reason to smile since Walt Disney Co. (DIS) reopened doors Shanghai Disneyland to the public once again. Despite that the re-opening was less popped and without much fuss thousands of visitors found their way into Shanghai Disneyland […]

Pandemic Drives World’s Second Oldest Airline Avianca into Bankruptcy

Without a doubt the airline industry is among the worst hit by coronavirus pandemic across entire world. In the past few weeks multiple airlines including major ones have made headlines by adopting measures to help them survive the hard economic times. Well, world’s second oldest and South America’s largest airline Avianca Holdings (AVT) has filed […]

BMW Slashes Financial Guideline Says Pandemic Effect Will Last Entire year

German based luxurious car manufacturer Bayerische Motoren Werke AG (BMW) has announced withdrawal from earlier released financial guidance for the year further adding effects caused by coronavirus pandemic will affect the company’s performance for the entire year. “The BMW Group still expects the spread of the coronavirus and the necessary containment measures to seriously dampen […]

Disney Cuts Profit by $1.4 Billion Withdraws Dividend Payment due to Pandemic

Entertainment Company Walt Disney Co. (DIS) has provided measures it will be taking so as to enable the company overcome the pandemic while maintaining losses at minimum levels possible. Disney has announced it will be reducing profit by $1.4 billion, the company said a large chunk of this loss will be coming from its theme […]

Norwegian Air to Convert Debts into Equity to Help Airline Survive Pandemic

Undoubtedly the airline industry around the globe is among the worst hit by coronavirus pandemic. The pandemic has seen reduced air traffic hence all airlines have most of their aircrafts grounded. Norway’s national carrier, Norwegian Air (NWC) will be converting its debts to equity as a measure to help the airline survive plunge caused by […]

Silver Lake to Acquire Stake Worth $750 Million in Reliance

American private equity company Silver Lake has announced that it will be purchasing stake worth $750 million in the digital unit of India based Reliance Industries Ltd (RELI). This announcement comes barely two weeks after tech company Facebook Inc. (FB) invested $5.7 billion in the same business. The digital unit of Reliance Industries is known […]

Twitter Beats Analysts’ Estimates in First Quarter Report

Widely used social network company Twitter Inc. (TWTR) has announced its results for the first quarter ending March 31, the company performed relatively well in the quarter beating several analysts’ estimates. In the quarter, daily Twitter users who can view ads increased by 26% to 166 million, a number above what analysts had estimated by […]