SQUAWK BOX, WEDNESDAY 6TH MAY, 2020

Media giant Disney cancels its 2020 dividend payout after suffering a $1.4bn hit to income due to the Covid-19 outbreak. It has announced plans to reopen its Shanghai theme park from next week. BMW lowers its margin outlook, saying that the negative impact of the virus is lasting longer than expected with second-quarter data being worse than the first. Unicredit suffers a bigger loss than anticipated as it sees trading income fall and is forced to take a large writedown on loans. In Germany, state heads agree a draft reopening plan that would see all shops and restaurants resume trading but with provisions for fresh lockdowns if cases rise.