Ryanair’s Austrian airline Lauda on Friday said it would shut down its main Vienna base on May 29 with the loss of more than 300 jobs in Austria after it did not manage to agree new labour contracts with the union.
(Bloomberg) — Speculation that the U.K. could be the next major nation with negative interest rates is hurting the pound and driving a record rally in the country’s haven bonds.Sterling tumbled against a stronger dollar and gilt yields touched fresh all-time lows after Bank of England Deputy Governor Dave Ramsden became the latest policy maker to signal that interest rates below 0% could be a possibility. Traders in money markets are betting the U.K. could see sub-zero interest rates by year-end.Ramsden’s comments “are broadly in line with other Monetary Policy Committee members this week which have signaled that the BOE …read more […]
Amazon.com Inc’s India unit said it would hire 50,000 temporary workers to meet a surge in online shopping in the country, where customers have been stuck indoors for two months in a lockdown to fight the coronavirus outbreak.
World stocks took a hit on Friday as China moved to impose a new security law on Hong Kong after last year’s pro-democracy unrest, further straining fast-deteriorating U.S.-China ties.
Oil fell over 5% on Friday towards $34 a barrel as tensions rose between the United States and China, and doubts grew about the pace of demand recovery from the coronavirus crisis.
Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, France’s Finance Minister Bruno Le Maire said on Friday, while adding the carmaker also needed to adapt to the situation.
The banks that lent $518 million to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.
Oil prices fell on Friday as tensions rose between the U.S. and China and as Beijing failed to set target for economic growth this year, stoking concern that the coronavirus pandemic will overshadow fuel demand in the world’s second-largest oil user.
France’s Finance Minister Bruno Le Maire said on Friday that Renault could disappear if it does not get help very soon to cope with the fallout from the coronavirus crisis, while adding that Renault also needed to adapt to the situation.
China’s biggest automaker SAIC Motor expects the nation’s auto sales to post year-on-year growth in the second quarter due to recovering demand and supportive policies, its chairman said on Friday.
Nissan Motor Co is considering cutting 20,000 jobs from its global workforce, focusing on Europe and developing countries, Kyodo news reported on Friday, as the Japanese automaker struggles to recover from plunging car sales.
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