Year: 2020

Airbus is drawing up plans for restructuring involving “deep” job cuts, but has not taken a final decision, industry sources said. If the move is confirmed, the European planemaker is expected to brief unions on the proposals around the end of the month and is meanwhile drawing up contingency plans for a prolonged crisis after furloughing thousands of workers. Chief Executive Guillaume Faury is expected to update managers this week after warning staff last month that the firm’s survival was at stake due to a slump in demand. …read more […]

(Bloomberg) — The Trump administration said firms that took loans that they didn’t need from a small business aid program will be allowed to repay the money without legal consequences, reversing an earlier threat that the government could pursue them criminally.New guidance issued Wednesday for the Paycheck Protection Program by the Small Business Administration and the Treasury Department also said that companies that took loans of less than $2 million will automatically be determined to have done so in good faith because they’re less likely to have access to other resources.The SBA will review all loans above $2 million to …read more […]

Facebook agreed to compensate $52 million to its content moderators who developed PTSD and other mental health issues on the job. Yahoo Finance’s On The Move panel breaks down the latest developments. …read more […]

The Stifel strategist who predicted April’s market rally says the best strategy right now is to be like the Road Runner: “Step out of the way and let anvil hit Wile E. Coyote — the economy. And then after that, the Fed will act and then you can move on, if you’re the investor.” …read more […]

(Bloomberg) — Oil fell despite the first U.S. stockpile decline since January.Futures in New York were down 1.4% after the Energy Information Administration said crude inventories fell by 745,000 barrels indicating that producers recently shutting in production hasn’t been enough to lift the market. The agency reported the lowest crude input by U.S. refineries since 2008 suggesting that demand recovery will take more time.“There still is downside risk in the near term due to the demand side as the normalization of the economy could well be quite choppy and uneven throughout America,” Bart Melek, head of commodity strategy at Toronto …read more […]

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