Earnings season. Bayer, Adidas, NXP Semiconductors, Kuehne + Nagel, Galp Energia, Swedish Match are among companies reporting their results today.

Airline rescue. The US Treasury announced that it has allocated an additional $9.5 billion in loans to the air transport sector under the Payroll Support Program, bringing the total amount of aid to airlines to $12.4 billion, in exchange for guarantees on maintaining jobs and wages.

Apple postpones iPhone production. The Wall Street Journal reports that Apple will postpone the mass production of its new iPhone for about a month due to the pandemic.

Boeing is abandoning Embraer. Boeing officially renounces the acquisition of Embraer's civil aviation division, which does not have a "plan B" at this stage. The Brazilian group considers this to be illegal and based on false arguments. The deal should have been closed on April 24 for $4.2 billion, but the American group believes Embraer has "not met the necessary conditions". This is a case that will be settled by millions in court.

War of protocol. Germany advocates a decentralized digital tracking solution for Covid-19, of the type developed by Apple and Google. "We will support a decentralized architecture that will store contacts only on the devices," said Helge Braun on Sunday on ARD public television. Until Friday, the German government was supporting the initiative launched at the beginning of the month by a group of 130 researchers from eight countries in a pan-European platform called PEPP-PT. Berlin could join the other system, the DP-3T protocol, developed by a team of Swiss researchers and supported by Switzerland, Austria and Estonia.

The video war. Facebook has in turn launched a videoconferencing application, Messenger Rooms. The tool should make it possible to bring together up to 50 people. It will be accessible via a link to guests who do not have the application or a Facebook account. Containment has made these videoconferencing solutions very popular, a market already occupied by companies such as Microsoft, Cisco, Google or Zoom Video.

Broadcom seeks to reassure. Broadcom has submitted proposals to the European Commission to address concerns about its exclusive agreements with TV and set-top box manufacturers, the EU executive announced on Monday.

Starbucks is diversifying. The US coffee company has sealed a strategic partnership with private equity group Sequoia Capital China to invest in China's technology sector.

Cigars are still popular. Imperial Brands has signed agreements to sell its premium cigars to investor consortia through two separate transactions for a total amount of €1.22 billion. The transaction values the perimeter at 11.8 times the 2019 Ebitda.

Debt-for-equity. The financial rescue plan proposed by Norwegian Air could leave the current shareholders with a stake valued at only 5.2% of the airline's shareholding, according to projections based on published documents.

No miracle. Adidas suffered a 19% contraction of its turnover in the first quarter of 2020, to €4.75 billion, while its operating profit fell by 93% to €65 million. The German company is unable to formulate annual forecasts at this stage.

Bayer is exceeding expectations. The group exceeded expectations for the quarter, with Ebitda up 10.2% to €4.39bn, for a consensus of €4.17bn. Bayer also reports tighter control over compensation in the glyphosate litigation.

Profits for DB. Deutsche Bank published slightly profitable quarterly results last night and higher than expected. Net profit reaches €66 million. The CET1 solvency ratio fell from 13.6 to 12.8% over the quarter, but remains high. The German bank decided to "allow capital to fall slightly and temporarily below its target in order to support customers and the economy in general during this period of economic crisis". The quarterly results are not very significant: investors are mainly waiting to see whether the bank's recovery plan is bearing fruit or not. This is not very easy to determine given the current economic context.

In other news. The German government is reportedly divided on how to rescue Lufthansa. Daimler reports that the Chinese car market resumed in March. Amazon.com extended until Tuesday the closure of its French warehouses, after another unfavorable court decision. S&P downgrades the outlook for Sika's "A-" credit rating from stable to negative. Virgin Atlantic is still discussing UK government support for coronaviruses.