Business & Finance News
Delta Air Lines moved to retire its Boeing Co 777 fleet and reduce its pilot ranks on Thursday as it joins other airlines wrestling with the need to shrink their operations to match reduced air travel due to the coronavirus crisis.
U.S. President Donald Trump on Thursday said he was very disappointed in China over its failure to contain the novel coronavirus, saying the worldwide pandemic cast a pall over his trade deal with Beijing.
IKEA’s shopping malls business, one of the world’s biggest, is looking to enter the United States in the next couple of years and is in talks to snap up central properties in major cities, its boss told Reuters.
McDonald’s Corp has asked its U.S. franchisees to make a series of changes in restaurants before reopening to diners in an effort avoid the spread of the new coronavirus, the Wall Street Journal reported on Thursday.
Planemaker Airbus has told senior staff the company must be “resized” in plans to be set out around end-June and is ready to cut jet production again to tackle any second wave of the coronavirus crisis, people briefed on the matter said.
President Donald Trump threatened on Thursday to impose new taxes on American companies that produce goods outside the United States, another move his administration could make to push supply chains away from China and raise new trade barriers.
The novel coronavirus crisis continues to pummel the U.S. labor market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacted by business closures caused by the pandemic.
Wall Street’s main indexes fell on Thursday, extending declines for the third straight session, as comments from President Donald Trump renewed worries over Sino-U.S. trade relations and added to concerns of a prolonged economic downturn.
German flagship carrier Lufthansa on Thursday said it would be offering 1,800 round trips a week to more than 130 destinations around the world by the end of June.
Planemaker Airbus has told senior staff the company must be “resized” in plans to be set out by around end-June and is ready to cut jet production again to tackle any second wave of the coronavirus crisis, people briefed on the matter said.
Delta Air Lines , with more than 14,000 pilots on its roster, expects to have 7,000 more than it needs in the fall as the coronavirus pandemic weighs on its operations, according to a memo to flight operations employees seen by Reuters.
World stock markets fell for a third day on Thursday and safe-haven bonds rose as disappointing U.S. jobs data and signals by central banks that further government stimulus may be needed stoked investor concerns about the global economic recovery.
Nissan Motor may be looking at the possibility of closing its Barcelona factory but no final decision has been made as the Japanese carmaker plans a new global strategic direction, two sources with direct knowledge told Reuters.
Renault is preparing to substantially reduce its vehicle range, withdrawing well-known but ailing models like the Espace minivans, as part of looming cost cutting plans, four sources in the industry and close to the French carmaker said.
The U.S. Securities and Exchange Commission said on Thursday it has charged two companies and a chief executive officer with making misleading claims related to COVID-19, the disease caused by the novel coronavirus.
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