Business & Finance News
The German foreign ministry has restricted use of the video conferencing service Zoom , saying in an internal memo to employees that security and data protection weaknesses made it too risky to use, newspaper Handelsblatt reported on Wednesday.
Constellation Brands Inc , the U.S. distributor of Corona beer, said on Wednesday it would reduce production at its Mexican breweries, just days after it announced they were fully operational.
McDonald’s Corp said first-quarter comparable sales declined 3.4%, as the world’s largest burger chain had to shutter stores and stick to delivery or take-out due to the coronavirus outbreak across the globe.
Spirit AeroSystems , Boeing’s top supplier, said on Wednesday it had stopped production for the planemaker for an indefinite period and would furlough workers supporting Boeing programs in Kansas and Oklahoma.
Tesco has defended its decision to pay investors a 635 million pound ($782 million) dividend while accepting business tax relief from the British government aimed at helping distressed retailers through the coronavirus crisis.
Zoom Video Communications Inc was slapped with a class action suit by one of its shareholders on Tuesday, accusing the video-conferencing app of overstating its privacy standards and failing to disclose that its service was not end-to-end encrypted.
SoftBank-backed Oyo Hotels and Homes is furloughing some employees to cut costs, it said on Wednesday, as lower travel due to the coronavirus pandemic slams the hospitality industry.
Fiat Chrysler (FCA) and unions are discussing plans for beefed-up health measures at Italian plants to pave the way for most profitable production to restart as soon as the government eases a national lockdown, unions said on Wednesday.
World stocks turned negative on Wednesday as the coronavirus death toll mounted and euro zone finance ministers failed to agree a rescue package to help economies recover from the impact of the outbreak.
Major economies are seeing the biggest monthly slump in activity ever amid the coronavirus crisis and no end is in sight without clarity about how long lockdowns will last, the Organisation for Economic Cooperation and Development said on Wednesday.
EasyJet founder Stelios Haji-Ioannou continued his battle to force the British airline to cancel an order for 107 Airbus planes, making a new demand on Wednesday for a shareholder vote and threatening to sue its directors.
Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.
Britain’s biggest retailer Tesco estimated a hit of up to 925 million pounds ($1.1 billion) from the costs of dealing with the coronavirus pandemic and warned it couldn’t give profit guidance for the current financial year.
Temperature checkpoints and posters telling workers to keep more than a metre apart at Japanese automaker Honda Motor Co’s reopened plant in the Chinese city of Wuhan show how the coronavirus has created a new normal on the factory floor.
German carmaker BMW will start producing face masks to help protect its own staff and the public against the spread of the new coronavirus, Chief Executive Oliver Zipse said on Wednesday.
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