Month: May 2020

Ethiopian Airlines expects a settlement with planemaker Boeing by end of June over the crash of an 737 MAX plane in March 2019, CEO Tewolde Gebremariam told Reuters on Friday.

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United Airlines Holdings Inc has told staff that it only has work for about 3,000 of its about 25,000 flight attendants in June, sources said, and warned of job losses if demand does not recover by the time government payroll aid expires in the fall.

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The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies [HWT.UL], spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking equipment.

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Shares in Wirecard fell more than 13% to their lowest in more than two years on Friday, traders pointing to a tweet about a business partner based in Dubai liquidating as the reason for the sudden sharp drop in afternoon trade.

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Virgin Atlantic will not be able to resume passenger flights until August at the earliest if Britain introduces a 14-day quarantine for travellers, according to a source at the airline.

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A slump in technology stocks knocked Wall Street’s main indexes lower on Friday, as signs of deteriorating trade relations between the United States and China added to economic worries due to the novel coronavirus pandemic.

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U.S. retail sales endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.

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The U.S.-China trade deal reached in January is absolutely not falling apart and the two countries are still working on trade, White House adviser Larry Kudlow said on Friday.

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White House Economic Adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.

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South African Airways (SAA) has spent just under 10 billion rand ($539.94 million) since it entered business rescue, a form of bankruptcy protection, Business Rescue practitioners said on Friday.

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Air France is putting its grounded pilots through their paces in the flight simulator as the airline prepares to restore flights to dozens of destinations that had been suspended under coronavirus lockdown measures.

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U.S. weapons maker Lockheed Martin Corp said on Friday it would pay an additional $300 million to its suppliers hurt by a sharp economic slowdown caused by the coronavirus crisis.

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