Norwegian Air shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners. The rescue deal prepares the ground for a relaunch of the company in a scaled-down version when the coronavirus crisis subsides. "This has been perhaps the most exciting financial thriller Norway has ever seen," Chief Executive Jacob Schram told a news conference after Monday's shareholder meeting....
May.04 -- FAANG stocks continue to affect U.S. market performance. Recent earning reports from Facebook, Apple, Amazon, Netflix and Google all indicate the coronavirus pandemic has increased consumer usage and made investors a captive audience. Bloomberg Technology's Emily Chang has highlights from the Big Five....
Walt Disney Co's acquisitions spree that included swallowing much of Rupert Murdoch's 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world's most powerful entertainment machine. With sports leagues dormant, Disney's ESPN cable channel has resorted to showing reruns of old games and fringe programming like stone-skipping competitions. "Disney has a bull's eye on its back like no other media company," Bank of America Merrill Lynch analyst Jessica Reif Ehrlich said in an interview....
