General Electric Co's industrial
businesses took a $1 billion hit to cash flow in the first
quarter due to the COVID-19 pandemic as overall revenue fell
almost 8%, and the company warned the damage would worsen in the
next three months.
The United States Oil Fund
(USO), the share price of which has been crushed this
month by big bets on front-month oil contracts, revealed on
Tuesday that it was sitting on more than $700 million in
unrealized losses heading into April.
Slovakia's central bank
stepped up calls on Wednesday for the government to change or
cancel a bank tax after the country's lenders saw profits fall
by half in the first quarter as the coronavirus outbreak
General Electric Co reported a
7.6% drop in first-quarter revenue, hurt by weakness in its
aviation and power units due to the coronavirus pandemic, and
fell short of its own free cash flow targets for the quarter.