Business & Finance News
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.
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.
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.
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.
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.
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.
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.
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.
Fiat Chrysler is in talks with Italian lender Intesa Sanpaolo over a 6.3 billion euro ($6.8 billion) state-guaranteed loan to help the automaker weather the coronavirus crisis, a source close to the matter said on Friday.
U.S. stocks dropped on Friday as signs of deteriorating trade relations between the United States and China added to economic worries due to the novel coronavirus pandemic.
U.S. stocks sank on Friday after data showed a worse-than-expected drop in retail sales and as investors worried about increased Sino-U.S. trade hostilities, while signs of a pick-up in demand helped boost oil prices.
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.
The Belgian government said on Friday it was committed to reaching a deal with Lufthansa to save its Belgian subsidiary Brussels Airlines if the future of the national carrier was guaranteed.
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.
The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action ramping up tensions with China.
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