Coronavirus latest: Nestlé sales jump as consumers stockpile coffee and pet food

Coronavirus latest: Nestlé sales jump as consumers stockpile coffee and pet food

Here’s a round-up of some of the latest news you might have missed

Intel’s revenue jumped 23 per cent in the first three months of the year as the new demands of working from home drove up sales of PCs and put more strain on cloud data centres that rely on the company’s chips.

Two British doctors have launched a legal challenge over the UK government’s guidance on personal protective equipment and how it should be used in hospitals.

About 5,000 US meat and food-processing workers have been infected or exposed to coronavirus, and 10 have died, according to estimates from the United Food and Commercial Workers Union.

The Federal Reserve said it would provide names and details of every beneficiary of its lending under the $2.2tn economic stimulus package.

EU leaders have agreed to work on creating a “recovery fund” to rebuild Europe’s economy after the coronavirus pandemic.

The disappearance of petrol demand because of coronavirus lockdowns has forced the shutdown of two of the world’s largest ethanol refineries, owned by Archer Daniels Midland, which process farmers’ corn into biofuel in the US Midwest.

Expedia, the online travel booking company, has raised $3.2bn in fresh capital, including $1.2bn from the private equity firms Apollo Global Management and Silver Lake.

Lufthansa has reported losses of around €1.2bn for the first three months of 2020, as it warned that it would run out of cash within weeks unless it received government aid.

The UN has called for the creation of an international agency to oversee sovereign debt relief programmes for developing countries, which it said face unsustainable debt repayments of $2.6tn this year and $3.4tn in 2021.

Poland is planning new takeover rules that will broaden the government’s powers to block attempts by non-EU investors to buy up Polish companies. The move follows a similar tightening of takeover rules in neighbouring Germany.

A vaccine is only likely to be available to the US public by June 2021, according to forecasts by Morgan Stanley.


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