Airlines react. American Airlines reduced the number of flights to and from New York for one month, following the lead of United Airlines and Jetblue Airways. Berkshire Hathaway, the holding company headed by Warren Buffett, announced that it has sold about 18 percent of its stake in Delta and 4 percent of its shares in Southwest. Delta Air Lines fears a drop in turnover of around 90% in the second quarter. No miracle for the carrier, which, like its fellow carriers, is affected by the reduction of international traffic to a congruent portion and by the mandatory or recommended confinement on its domestic market.
Boeing is delaying. Boeing announced Sunday the suspension sine die of its production operations in Washington State. The freeze was announced on March 25 for two weeks. It is unsurprisingly renewed. The group has two large complexes in Washington State, its birthplace, Puget Sound and Moses Lake.
Dividends for American banks. In all probability, the Fed should not restrict the willingness of US banks to pay dividends, unlike in Europe. The information comes from good sources cited by the Wall Street Journal.
Too big, too fast. The boss of Zoom Video is making his mea culpa about the security of his services, which have transformed the platform from a professional collaborative tool into an emergency solution for individuals, institutions and confined companies.
In other news. Sunrise wants to increase its fibre optic coverage of the Swiss population from 35 to 60%. Walt Disney is going to postpone the release of several of its blockbusters, notably those of the Marvel franchise. Gilead is accelerating the production of its experimental coronavirus drug. Facebook is responding to the crisis by developing dedicated digital tools and funding a $100 million fund for SMEs that depend on its services. Wells Fargo has sharply reduced the sail on its large loans. Aegon is cutting its dividend. Metro and Pirelli are abandoning their objectives. Lufthansa's CFO has resigned for health reasons. Romande Energie and Burkhalter have published their accounts. Rolls-Royce has renounced its targets and dividend.