Earnings season: Westpac Banking, Ferrari, Sempra Energy, Endesa, Tyson Foods, Traton and Oeneo are among companies reporting their results today.

Intel is negotiating an acquisition. Intel is in advanced discussions to acquire public transport applications developer Moovit for 1bn, according to the financial information site Calcalist.

He doesn't win every time. Berkshire Hathaway, which suffered losses of $50bn in Q1, has sold its interests in the four major US airlines (Delta Air Lines, American Airlines, Southwest Airlines, United Airlines). Warren Buffett's gamble on air travel wasn’t successful.

Green light. The FDA has granted approval to prescribe Gilead's investigational antiviral drug remdesivir for the treatment of patients with Covid-19. The treatment had originally been developed to treat Ebola, but has not been shown to be effective in this case.

Elon is back. Elon Musk said on Twitter that he finds Tesla’s stock too expensive. The leader's series of tweets on May t is strange to say the least, since he also announced that he was giving up material possessions. Since he was supposedly no longer tweeting anything that might affect Tesla's stock price, he may be caught up by the regulatory patrol. On a more serious note, Tesla has applied for a license to become an energy provider in the United Kingdom.

Another telecom merger. Telefonica has confirmed discussions for a merger of its UK mobile phone subsidiary O2 with Virgin Media (Liberty Global). This operation would bring together a mobile operator and a cable operator, whereas major competitors Vodafone and Hutchinson do not have a fixed-line division.

The rescue package is delayed. The Lufthansa saga continues, with the prospect of a bailout by the German state, which seemed to be a foregone conclusion but was not officially endorsed, and rumors of a direct stake of 25% in the capital.

More modest ambitions. Nissan Motor could reduce sail in Europe and other regions to focus on the US, China and Japan, Reuters has learned. The plan would be a new strategic direction for the automaker. The "operational performance plan" is due to be announced on May 28 and would go beyond the problems created by the fall of Carlos Ghosn.

Uber reduces speed... The group will close its Uber Eats meal delivery business in eight countries including the Czech Republic, Romania and Saudi Arabia, after failing to become a leader in these markets.

...Ferrari as well. Italian carmaker Ferrari has lowered its 2020 forecast, saying the impact of the coronavirus pandemic is expected to be felt mainly in the second quarter.

In other news: Rolls-Royce could cut up to 8,000 jobs. Zur Rose supports its CEO Walter Oberhänsli, accused by the Canton of Thurgau in connection with the distance selling of over-the-counter drugs and electronic prescriptions. NBC Universal (Comcast) is planning a major staff reduction. Ryanair will cut 3,000 jobs. Roche's Covid-19 serological test approved on an emergency basis by the FDA. Ericsson expects to withdraw $2 billion from the Iconectiv divestiture. US Congress wants to hear from Jeff Bezos about Amazon.com's practices. Cinven and Advent could seek other funds to share the risk of buying ThyssenKrupp's elevators, explains the Financial Times.