In choppy waters. Carnival, the cruise specialist, unveiled a quarterly net loss of $4.4 billion, as a result of the near-total shutdown of its activities caused by the coronavirus pandemic.
U.S.- French tensions. France said the US decision to withdraw from international discussions on the taxation of digital giants was a provocation. The U.S. blamed the Europeans for their lack of will, but considering it necessary to set up an international mechanism.
Uncle Ben's and others in the hot seat. PepsiCo to give up its Aunt Jemina brand, while Mars is considering renaming Uncle Ben's, in the aftermath of George Floyd death.
Green light. JPMorgan Chase & Co has received the O.K from the Chinese authorities to launch a derivatives business, the first authorization given to a 100% foreign-owned operator.
It's all right! At Nissan, supporters of Deputy CEO Ashwani Gupta are reportedly pressing for him to take on the role of co-CEO with Makoto Uchida, Reuters has learned. "Behind the scenes, Nissan's number two allies are lobbying for him to share the role with the current managing director Makoto Uchida or to replace him as president," the agency writes. Nissan denies "unfounded and misleading" rumors.
Hertz gives up. Under pressure from the US stock market authorities, Hertz has suspended its controversial capital increase project, which is controversial because it was proposed while the company is under bankruptcy protection. The company was hoping to raise $500 million after retail investors were surprised by its share infatuation.
Musical chairs. The Swatch Group made numerous changes in its top management. Raynald Aeschlimann, President and CEO of Omega and member of the Extended Group Management Board, is appointed to the Executive Group Management Board. Matthias Breschan moves from Rado (replaced by Adrian Bosshard) to Longines and Sylvain Dolla takes over at Tissot.
In other news. Helvetia completes a private placement of 3.4 million shares to finance the acquisition of Caser, JD.com is now listed in Hong Kong in addition to New York, Standard Chartered wants to strengthen its equity by raising $1bn on the debt market, Sunrise buys Wilmaa, pioneer of web TV.