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Bloomberg Carnival Corp. is in talks to raise as much as $7 billion as the cruise ship operator seeks to shore up its finances amid a halt on global travel, according to people with knowledge of the matter. The company, looking to raise cash to improve liquidity as the Covid-19 pandemic upends its business, is being advised by lenders including ...

Bloomberg The International Monetary Fund (IMF) asked the leaders of world’s biggest economies for more support to keep the international monetary system from seizing up due to the pandemic. The IMF sought backing to create a sizable quantity of reserve assets called SDRs, or special drawing rights, as it did in the 2009 global financial crisis, Managing Director Kristalina Georgieva ...

Bloomberg Hertz Global Holdings Inc. is discussing options with banks to raise cash as the rental-car company seeks to weather a worldwide slowdown in travel, according to people with knowledge of the matter. Among the options being discussed by the company and banks led by Barclays Plc are a first-lien loan, second-lien financing or collateralising the company’s vehicle fleet. Hertz ...

Bloomberg General Motors Co. (GM) agreed to a $120 million settlement over faulty ignition switches that allegedly caused cars to stall and air bags to deploy, in some cases triggering fatal accidents. The deal, which must be approved by a judge, would resolve hundreds of lawsuits filed before the automaker sought bankruptcy protection in 2009. Under the settlement, which was ...

Bloomberg Irish unemployment may surge to the highest level since the 1980s, as the coronavirus takes an unprecedented toll on the economy. The jobless rate could rise 18% in the second quarter, the government-backed ESRI think-tank said, should current restrictions remain in place for 12 weeks as planned. About 350,000 people would lose their jobs, the think tank said, with ...

Bloomberg The French government said it will cut or withhold financial support from companies paying dividends and urged boards to preserve liquidity to support staff and operations amid the economic fallout from the coronavirus. All companies that have delayed tax payments will have to reimburse the state and pay penalties if they proceed with dividends, Finance Minister Bruno Le Maire ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, spoke over the phone with Indonesian President Joko Widodo and discussed the latest regional and global developments as well as bilateral and multilateral efforts being taken to contain the impact of coronavirus pandemic. His ...

Bloomberg President Donald Trump signed the largest stimulus package in US history, a $2 trillion bill intended to rescue the coronavirus-battered economy. “This will deliver urgently needed relief,” Trump told reporters at the White House, as he was joined by GOP leaders but no Democrats. “We’re going to keep our small businesses strong and our big businesses strong.” The hard-won ...

Bloomberg The bustling streets are silent across much of India as the country heeds Prime Minister Narendra Modi’s 21-day lockdown to break the chain of transmission of the coronavirus, but the WhatsApp groups are buzzing. As the number of infections continue to rise, the anger and anxiety once expressed by the honking of horns at rush hour is finding voice ...

DUBAI / WAM Etisalat on Saturday announced it is expanding its CloudTalk Meeting by enabling 50 concurrent participants to join an online meeting and discussion, in response to the high volume of requests and growing demand for the service. The three months’ free access to Etisalat’s unified communication and collaboration platform CloudTalk Meeting launched recently was well-received by the market, ...