Nasdaq Commodities

In the last couple of months, the global energy industry has been flipped on its head.

Switzerland and Austria pledged to help Lufthansa with state-backed loans as the German airline pursues talks with Berlin over a 9 billion euro ($9.8 billion) rescue package.

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

Boeing Co reported a loss for the second straight quarter and said on Wednesday it would cut its workforce by about 10% as the planemaker further reduces 787 Dreamliner production against a slump in global travel demand.

IAG's move to axe up to 12,000 jobs at its main British Airways business reflects boss Willie Walsh's preference to slash costs rather than seek a state bailout to survive what is expected to be the worst downturn in aviation history.

Minerva SA, the largest beef exporter in South America, hopes to further boost foreign sales due to potentially scarce supplies in large producing nations like the United States, Chief Financial Officer Edison Ticle said on Tuesday.

Boeing Co reported a loss for the second straight quarter and said on Wednesday it would further reduce production of 787 Dreamliner to seven jets a month amid a slump in travel demand.

South African retailer Edcon will file for bankruptcy protection in the next few days, it said on Wednesday, becoming the country's first major corporate casualty of the coronavirus pandemic.

Shares in airline group IAG fell 3% after the airline group launched a plan to shrink its main British Airways business, axing staff numbers by a quarter as it warned of a slow recovery from the coronavirus pandemic.

More Indian investors are turning to U.S. stocks to escape tumbling markets at home and pick up exposure to global technology giants that are rising through the coronavirus-led market turmoil.

Kenya's economic growth is expected to drop to 1.5% this year, and contract 1% in the worst-case scenario under the impact of the coronavirus outbreak that has hit tourism, agricultural exports and remittances, the World Bank said on Wednesday.

Finnair plans to raise 500 million euros ($543 million) through a rights offering that would be larger than its current equity, it said on Wednesday after reporting deepening first-quarter losses.

Britain's FTSE 100 index is seen opening 36 points higher at 5,994 on Wednesday, according to financial bookmakers, with futures up 0.28% ahead of cash market open.

British clothing retailer Next said on Wednesday total product sales in its latest quarter crashed 41%, reflecting the closure of all its stores in the coronavirus lockdown and the temporary shutdown of its online operations.

Malaysia's AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year because of the sharp fall in demand from the coronavirus crisis, and was revisiting its order book with Airbus SE.

Malaysia's AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year due to the sharp fall in demand from the coronavirus crisis and was relooking at its order book with Airbus SE.

Norwegian aluminium producer Norsk Hydro reported a four-fold jump in first-quarter operating profit on Wednesday that beat expectations, boosted by cost cuts and a weaker local currency.

Planemaker Airbus on Wednesday posted a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenue dropped 15% to 10.631 billion euros amid the "gravest crisis the aerospace industry has ever known".

Britain's FTSE 100 index is seen opening 36 points higher at 5,994 on Wednesday, according to financial bookmakers.

Planemaker Airbus posted on Wednesday a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenues fell 15% to 10.631 billion amid the "gravest crisis the aerospace industry has ever known".