Carmakers in crisis: BMW sales plunge; Peugeot owner raises funds

With a fresh round of Paycheck Protection Program funds on the way, some small businesses in North Carolina say they have reason to hope. But for Zack Medford, who heads up Isaac Hunters Hospitality, that optimism is hard to come by. “T.....»»

Global vehicle sales by Japanese automakers dropped by 34% in March when the coronavirus outbreak spread worldwide, and are set to fall further in the months ahead as the crisis continues......»»

Adafruit Adafruit, an electronics manufacturing company based in New York City, sprung to action after local officials put out a call for help during the coronavirus pandemic.  The company is n.....»»

Gucci sales were hit hard early in the coronavirus crisis due to the fashion group's reliance on Chinese customers, owner Kering said on Tuesday, adding that it was premature to say how quickly China sales would rebound......»»

Gucci sales were hit hard at the beginning of the coronavirus crisis due to its strong reliance on Chinese customers, owner Kering said on Tuesday, though it added that the Italian brand should be well positioned for a recovery......»»

Peugeot-owner PSA and Renault are planning new safety measures in a push by France's major industrial groups for a breakthrough with workers to reopen some factories before the government lifts its lockdown from mid-May, unions said......»»

The onset of the coronavius pandemic triggered a record 8.7% slump sales at U.S. retailers in March as large swaths of the economy shut down — and there’s no light at the end of the tunnel......»»

Index Ventures has $2 billion in new funds to invest as it looks to test the belief that some of the best startups emerge in times of crisis. Mike Volpi, who has been a partner with the San Francisco and London firm since 2009, points to investme.....»»

As the ongoing coronavirus crisis keeps many consumers indoors, companies are relying on delivery more than ever to drive sales. And a local startup just raised a new round of funding to help retailers, grocers, restaurants and other industries streaml.....»»

With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot's owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger......»»

With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot's owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger......»»

Peugeot-owner PSA said on Monday it had secured a further 3 billion euros ($3.3 billion) of loans, strengthening its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis......»»

French carmaker and Peugeot-owner PSA announced on Monday a further 3 billion euros ($3.3 billion) worth of loans to strengthen its financial position in the wake of the hit to the global automotive industry from the coronavirus crisis......»»

Zara-owner Inditex has switched its clothes factories in Spain over to making medical supplies and its logistics hub has almost ground to a halt, while Sweden's H&M reports plunge in March sales. Ciara Lee reports.....»»

As the coronavirus crisis worsens throughout the U.S., a Chicago venture firm just raised nearly $1.5 billion in two new funds to back companies fighting against COVID-19 and other health care challenges. ARCH Venture Partners announced Thursday t.....»»

As Americans watch the value of their retirement funds collapse, it is no surprise the spring housing market is about to crater. .....»»

Carmakers including Fiat Chrysler, Peugeot and Volkswagen cut production at European plants on Monday as they grappled with the coronavirus crisis and diving demand......»»

Earnings at Peugeot owner PSA Group jumped thanks to sales of pricier SUVs, cheering investors ahead of its merger with Fiat Chrysler. Julian Satterthwaite reports......»»

Canadian billionaire Lawrence Stroll will take a stake of up to 20% in luxury carmaker Aston Martin Lagonda Global Holdings, as the ailing British firm raises funds after a sales decline put pressure on its finances......»»

Canadian billionaire Lawrence Stroll will take an up to 20% stake in Aston Martin for nearly 200 million pounds ($263 million) as the ailing carmaker raises funds after a sales drop put pressure on its finances......»»