Corporate results:

  • Ryanair revises its annual profit forecasts downwards after online travel agencies cancel flights.
  • Wacker Chemie reports a fall in profits and warns that a recovery in demand is not imminent.

In other news:

  • United Airlines discusses new aircraft purchases with Airbus amid Boeing's woes.
  • Holcim is to spin off its US division, valued at $30 billion, and list it on the stock exchange. Jan Jenisch will remain Chairman of the Group, but will hand over the general management to Miljan Gutovic.
  • The Hong Kong courts decide to liquidate China Evergrande. Its listing is suspended, as are those of its subsidiaries China Evergrande New Energy and Evergrande Property Services.
  • Intel, Micron Technology, Texas Instrument - The US administration is expected to grant billions of dollars in subsidies to major semiconductor companies in the coming weeks to help them build new factories in the USA, the Wall Street Journal reported on Saturday.
  • A U.S. jury ordered Bayer to pay $2.2 billion in damages to a U.S. plaintiff, the highest amount ever paid in a trial involving a glyphosate-based weedkiller.
  • Philips reaches agreement with the FDA on the recall of certain respirators.
  • Lockheed Martin announced on Friday its intention to cut 1% of its workforce this year in order to reduce costs and streamline operations. The defense group employs 122,000 people worldwide.
  • Julius Bär is about to announce a write-down of around CHF 400 million on its exposure to the Signa real estate group, according to the SonntagsZeitung.
  • Johnson Controls may sell certain HVAC assets, valued at $5 billion, according to Bloomberg.
  • Grifols sues Gotham City Research in the USA after a report published by short-seller.
  • The family of Zee Entertainment founder Subhash Chandra will eventually increase its stake in the media group to 26%, from the current 4%, after a failed merger with Sony's Indian subsidiary, according to Mint.
  • Spotify said on Friday that Apple's plan to comply with the European Union's Digital Markets Act (DMA) was "a complete and utter farce".
  • Microsoft - Teams, the group's professional messaging platform, was restored on Saturday after a disruption blocked access.
  • Superdry is considering restructuring, including store closures and job cuts, according to Sky News.

Today's main publications: Vale, Nucor, Philips, Super Micro Computer, Eiffage, Ryanair, Galp Energia... The full earnings calendar is here.