Starbucks expects its earnings to fall by half in its second fiscal quarter of 2020. The U.S. coffee chain forecasts adjusted earnings per share of 32 cents for the period, compared to 60 cents a year earlier, as stores are closed. Detailed results for the second fiscal quarter will be published at the end of April. Starbucks also waived the annual guidance communicated last October.

We're cutting the pear in half. Credit Suisse and UBS Group are halving their dividend proposals to incorporate Finma's recommendations, but plan to pay the missing half in the autumn if conditions improve. This is the compromise reached by the two banks. Finma welcomed this decision, but pointed out that both institutions are solid. Elsewhere in Europe, many banks have waived their dividends altogether, particularly in the euro zone and the United Kingdom.

$1 billion. Saudi Arabia's sovereign investment fund has taken a $1bn stake in four European oil majors (Equinor, Royal Dutch Shell, Total, ENI), taking advantage of falling prices, according to information obtained by the Wall Street Journal. The PIF (Public Investment Fund) is said to have taken about $200 million worth of Equinor shares last week, the only amount obtained from its sources by the American publication. But the total commitments are close to one billion dollars.

Disney+ crosses a symbolic milestone. Walt Disney's streaming service, Disney+, passed the 50 million subscribers mark worldwide five months after its creation. "We are honored that Disney+ appeals to millions of people and this bodes well for our future expansion into Western Europe, Japan and all of Latin America later this year," the group said. But we know that the streaming jungle is more of a marathon than a sprint. We'll have to wait a while before we can judge the success of the bid. By way of comparison, Netflix had 167 million subscribers in January.

In other news. Costco Wholesale recorded a 9.6% increase in sales in March, slightly less than expected. The German Foreign Office restricts the use of Zoom Video for security reasons. The Fed allows Wells Fargo to lend more to SMEs. Chugai, the Chinese partner of Roche Holding, will start a phase III trial with Actemra in Covid-19. According to Nikkei, Nissan is seeking $4.6 billion in credit lines to ensure its sustainability in this time of crisis. SAP SE is reviewing its objectives.