Sri Lankan shares ended lower on Monday, ** The benchmark stock index ended down 0.23% at 5,713.58. ** Browns Investment and Commercial Bank of Ceylon were the top drags, ending the day 4.2% and 1.8% lower, respectively. ** Conglomerate ExpoLanka holdings and Nestle Lanka kept losses in check, adding 6.1% and 2.6%, respectively.
The COVID-19 pandemic will result in fewer airline companies, as a result of firms being taken over or going under, said the head of the International Air Transport Association on Friday. "It is likely that the sector will come out of this crisis smaller than before, which is to say there will be fewer players, who will likely be smaller than before," he told BFM Business radio.
Auto technology supplier Aptiv Plc (APTV) forecast better than expected results for the year on Thursday and gave a bullish outlook for growth for its electrification and assisted driving technology, lifting its shares as much as 4%. Chief Executive Kevin Clark said sales of high voltage electrification technology were growing by 40% a year as automakers respond to demand for cleaner, all or partially...
Slower construction of everything from cruise ships to pipelines during the coronavirus pandemic is weighing on demand for Caterpillar Inc.' s heavy machinery. Caterpillar (CAT) said Tuesday that machinery sales fell 23% in its third quarter as customers held off on big purchases. Revenue fell in Caterpillar's (CAT) three global segments, declining 23% in construction, 21% in mining and 24% in its energy and transportation business.
- U.S. aircraft parts maker Spirit AeroSystems (SPR) said on Monday it reached a deal with Bombardier Inc (BDRAF) to cut the cash component of a deal to buy the Canadian planemaker's aerostructures unit by 45% to $275 million as COVID-19 weighed on the aerospace sector.
U.S. aircraft parts maker Spirit
AeroSystems (SPR) said on Monday it reached a deal with Bombardier Inc (BDRAF) to cut the cash component of a deal to buy the Canadian planemaker's aerostructures unit by 45% to $275 million as COVID-19 weighed on the aerospace sector.
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