Looking for cash. American Airlines is seeking $3.5 billion in new financing to improve its liquidity in the context of the coronavirus crisis.

Battery Day. Elon Musk announced on Sunday that the Tesla shareholders' meeting and "Battery Day", an event at which innovations in battery technology could be announced, are scheduled to take place on September 15.

Covid alert. PepsiCo in China announced Sunday that production at one of its food processing plants in Beijing had been suspended after at least one of its employees tested positive for Covid-19.

Tough break. Airbus is expected to announce "difficult" decisions for jobs by the end of July, CEO Guillaume Faury warned in a letter to the company's 140,000 employees. The manufacturer is facing difficulties from its main customers, the airlines, which have led it to adapt its production rates to revise them downwards sharply. In the United States, the sector has already begun to cut its workforce. The Airbus boss fears that the 2019 level of air traffic will not be restored until 2023 or even 2025.

Exposed. Wirecard's management now assumes that the €1.9 billion that the auditors fail to identify probably never existed. The financial scandal involving the fallen German star has caused the stock market price to plummet from EUR 104.50 last Wednesday to EUR 25.82 on Friday evening. On Friday, Moody's downgraded the debt to speculative grade. The company's CEO resigned.

The shadow of a doubt. Deutsche Lufthansa's rescue plan could be thwarted by the company's largest shareholder at a general meeting. Billionaire Heinz Hermann Thiele, the company's largest shareholder, is scheduled to meet the German Economics Minister on Monday to discuss the plan. He is contesting the state's entry into the capital directly and would prefer that of the state-owned bank KfW. The meeting will take place on June 25.

Better late than never. Italy is close to validating a €6.3 billion guarantee program in favor of Fiat Chrysler. The funds will be provided in the form of a loan by Intesa. According to information obtained by Reuters, the government is expected to give its approval quickly.

In other news. Nestlé wants to develop the Nespresso factories in Switzerland. Novartis stops its study on hydroxychloroquine due to lack of participants. Glencore under investigation for corruption in Switzerland. Faced with the spread of the coronavirus, Apple closes some of its stores in the United States. AMS AG issues €1bn in bonds for the acquisition of Osram. Basilea obtains 5 MCHF milestone payment from Pfizer for Cresemba. Toshiba confirms that it will sell its 40% stake in its former memory chip unit, Kioxia, by redistributing part of the proceeds to its shareholders.