Lufthansa supervisory board postpones approval of bailout package

spike

FILE PHOTO: Airplanes of German carrier Lufthansa at the Berlin Schoenefeld airport, Germany, May 26, 2020. REUTERS/Fabrizio Bensch/File Photo

FRANKFURT (Reuters) – Lufthansa’s (LHAG.DE) supervisory board postponed approval of a 9 billion euro ($9.90 billion) bailout in light of conditions imposed by the European Union, the German airline group said on Wednesday.

Lufthansa’s supervisory board had been expected to meet Wednesday to sign off on the rescue deal, but the European Commission has asked Lufthansa to waive landing rights for six out of 300 slots at Frankfurt and Munich airports, where Lufthansa has a two-thirds market share.

Lufthansa

Read More

AIG approaches shareholder pay vote with cautious approval from proxy firms

spike

(Reuters) – American International Group Inc (AIG.N) faces a crucial test on Wednesday, when shareholders are to vote on whether the board of directors has adequately addressed their concerns about executive pay.

FILE PHOTO: American International Group Inc. (AIG) headquarters seen on the day of the companyÕs 2017 annual shareholder meeting at 175 Water Street, New York, U.S., June 28, 2017. REUTERS/Suzanne Barlyn

Investors offered relatively weak support for AIG’s pay proposals in the prior two years during the era of Chief Executive Officer Brian Duperreault, who joined the U.S. insurer in May, 2017 with a lucrative package

Read More

Trump wants FDA to move ‘as quickly as they can’ on remdesivir coronavirus approval

spike

President Donald Trump said he wants the Food and Drug Administration to move “as quickly as they can” to approve Gilead Sciences’ antiviral drug remdesivir as a treatment for the coronavirus.

“We would like to see very quick approvals, especially with things that work,” he said at a roundtable at the White House with business executives Wednesday evening.

Earlier in the day, the FDA said it has been in “sustained and ongoing” discussions with Gilead to make remdesivir available to Covid-19 patients “as quickly as possible, as appropriate.”

White House health advisor Dr. Anthony Fauci said data from a coronavirus

Read More

GM ignition switch settlement with vehicle owners wins U.S. court approval

spike

FILE PHOTO: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio

NEW YORK (Reuters) – General Motors Co (GM.N) on Thursday won preliminary U.S. court approval of a $120 million settlement with owners who said defective ignition switches caused their vehicles to lose value.

U.S. District Judge Jesse Furman in Manhattan granted approval at a hearing conducted by phone.

The accord would resolve the last major piece of litigation over GM ignition switches linked to vehicle stalls and air bags that failed to deploy, as well

Read More