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AP News | Equities.com |

DUBAI, United Arab Emirates (AP) — The Middle East’s biggest carrier, Emirates, announced on Sunday profits of $288 million over the past year even as revenue declined due to flight suspensions sparked by the coronavirus, offering a glimpse of the financial toll now facing airlines around the world. The Dubai-based carrier said that although profits were up by 21%, revenue had dipped by 6% to $25 billion over the past fiscal year, which ended March 31. The airline said t...


Reuters | Equities.com |

BP’s first-quarter profit tumbled by two thirds and its debt climbed to its highest on record as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty. London-based BP said it expected significantly lower refining margins in the second quarter when global restrictions on movement to halt the spread of the virus reached their peak, throttling consumption of gasolin...


Reuters | Equities.com |

(Reuters) - General Motors Co said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales. Shares of GM were 1.4% lower at $21.65 before the bell. “We continue to enhance our liquidity to help navigate the uncertainties in the global market created by this pandemic,” said GM Chief Financial Officer Dhivya Suryadevara. GM, which has been fo...


Reuters | Equities.com |

International Business Machines Corp on Monday withdrew its 2020 annual forecast due to uncertainty caused by COVID-19, but said its customers were relatively well positioned for the pandemic and it would continue to pay dividends. The company posted quarterly revenue slightly lower than Wall Street expected, but beat profit targets as sales in its high-margin cloud computing business rose 19%. IBM has ample free cash flow and liquidity to invest in its business and continue paying...