Category: Newswire

GROUPE RENAULT: Communiqué of availability of the Universal Registration Document and information regarding the impact of coronavirus

            COMMUNIQUÉBoulogne-Billancourt, March 20, 2020Renault announces that the 2019 Universal Registration Document is filed with the French Financial Markets Authority.The 2019 Universal Registration Document includes the following information:In the context of the coronavirus (Covid-19) pandemic and in compliance with the measures taken by the various governments to date, Groupe Renault has stopped the activity of some… Continue reading GROUPE RENAULT: Communiqué of availability of the Universal Registration Document and information regarding the impact of coronavirus

Tesla shuts down California and New York factories, keeps Nevada open during coronavirus crisis

Tesla will suspend most operations at its Fremont, Calif., and Buffalo, N.Y, factories at the end of the workday on Monday to bring itself in line with local measures to prevent the spread of the coronavirus, the company has confirmed in a press release.The automaker will continue vehicle deliveries and service as possible, and both its charging network and battery factory in Sparks, Nev., will remain open, as the local sheriff has deemed the facility an “essential” business.Ford, General Motors, Chrysler, Honda and Nissan have temporarily suspended operations at all of their U.S. factories.

The Coronavirus Pandemic is Likely to Weaken Kamux’s Financial Development in 2020

HELSINKI, March 20, 2020 /PRNewswire/ — The world-wide pandemic and related regulations and restrictions will cause considerable changes in the operating environment of Kamux Corporation (“Company”). According to the Company’s estimate, the changes will decrease the volume of its business and profitability in 2020, and it is not likely that the Company will be able… Continue reading The Coronavirus Pandemic is Likely to Weaken Kamux’s Financial Development in 2020

AB Volvo’s Board of Directors Withdraws Proposal of Extra Dividend, Maintains Ordinary Dividend

GÖTEBORG, Sweden, March 19, 2020 /PRNewswire/ — In light of the general uncertainty and the measures taken to slow down the spread of Covid19 and their effects on the Volvo Group, the Board of Directors of AB Volvo has decided to maintain the proposal to the Annual General Meeting on April 8, 2020 of an… Continue reading AB Volvo’s Board of Directors Withdraws Proposal of Extra Dividend, Maintains Ordinary Dividend

Grammer decides to halt production at its European locations

Disclosure of inside information in accordance with Art. 17 MAR Grammer AG (WKN 589540, ISIN DE0005895403) • Grammer decides to halt production at its European locations Amberg, March 19, 2020 – As a result of the corona pandemic spreading in Europe, major car manufacturers have announced a temporary halt of their production. For this reason, the… Continue reading Grammer decides to halt production at its European locations

Ford is re-running its financial crisis playbook as it borrows $15.4 billion to avert the coronavirus crisis

On Thursday, Ford announced that it would tap $US15.4 billion in credit lines.The level of borrowing is reminiscent of the carmaker’s actions prior to the financial crisis, when it effectively mortgaged all its assets to borrow $US24 billion, averting the bankruptcies that General Motors an Chrysler endured.The program expands on measures previously announced by Ford Credit.

Leaked Tesla email contradicts layoff reports, says ‘essential’ employees should go to work at the factory, which is in a shelter-in-place zone, amid coronavirus outbreak

Late Wednesday night, Valerie Workman, an attorney at Tesla, sent out an email reiterating guidelines for working at the company’s Fremont, California factory.Workman reiterated that “essential” employees who can’t work from home should continue to report to work at the factory.Many factory workers are hourly and cannot work from home, and Tesla’s definition of “essential” could include a lot of Fremont’s 10,000 staff.