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Demand for Tesla's electric cars held up in the first three months of the year, despite upheavals caused by the coronavirus pandemic. Quarterly revenues jumped 30% from last year to $5.9bn (£4.7bn), allowing the firm to turn a small profit of $16m. It is the third quarterly profit in a row for the company, marking a turnaround after years of losses.But Tesla said forced shutdowns and limits on deliveries had clouded its forecast for coming months.The company suspended its near-term profit.
Royal Dutch Shell has cut its shareholder dividend for the first time since the second world war following the collapse of global oil prices due to the coronavirus pandemic.The oil giant told shareholders, including thousands of retail investors and pension funds, that payouts for the first quarter would fall by two-thirds to 16 cents a share. It is the first time that the FTSE 100’s biggest dividend payer will reduce payouts for its shareholders since the 1940s.
Lloyds Banking Group has reported a 95% fall in first quarter profit as it counts the cost of the coronavirus to the economy. Profits of £74m for the January-March period were down from £1.6bn in the same period a year ago, as the UK-focused lender set aside £1.43bn to cover the expected slump caused by the coronavirus pandemic. cost up to $11bn (£8.7bn) for the full year.
