The Australian dollar hit its highest level in nearly five weeks on Tuesday after the central bank sounded upbeat on the country's economic recovery, while higher commodity prices also underpinned the currency.
By Reuters Staff
(Adds shares)
April 29 (Reuters) - Struggling Canadian tour operator Transat AT said on Thursday it would borrow up to C$700 million ($569.71 million) from the Canadian government and use a portion of the funds to reimburse customers whose travel plans had to be canceled.
Shares of the company were up 5.5% at C$4.78 in morning trade.
The news comes barely a day after Reuters reported that Transat was close to reaching a financial aid deal with the federal government involving a loan.
The company was already struggling due to the COVID-19 pandemic when Air Canada dropped its merger plans with the company earlier this month, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat.
By Reuters Staff
(Recasts with CEO quotes, sources)
MILAN, April 29 (Reuters) - Generali Chief Executive Philippe Donnet said on Thursday he had already started working on a new strategic plan as tensions among investors in Italy’s largest insurer are seen rising in view of the renewal of the board next year.
Francesco Gaetano Caltagirone, Generali’s second-largest investor with a 5.6% stake, snubbed the company’s AGM on Thursday in the first public sign that the businessman is unhappy with the balance of power among shareholders, sources have said.
Another major shareholder, Leonardo Del Vecchio, who had also been critical of some of Generali’s strategic moves in the past year, attended the meeting and backed all items voted on, a source close to the Italian billionaire said.
Global shares extended gains on Thursday after the Federal Reserve said it was too early to consider rolling back emergency support for the economy, and U.S. President Joe Biden proposed a $1.8 trillion stimulus package.