Business & Finance News
U.S. stock index futures were lower on Tuesday following Wall Street’s steepest fall since 1987 in the previous session, as rising business disruptions in an effort to contain the coronavirus pandemic fanned worries over its economic damage.
Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects costs to rise by another 4.1 billion euros, Chief Financial Officer Frank Witter said on Tuesday.
Abu Dhabi’s Etihad Airways said on Tuesday it was expanding its cargo network to markets where passenger operations have decreased due to the coronavirus epidemic.
Boeing and other U.S. aviation companies are seeking billions of dollars in aid as they battle to survive a plunge in demand caused by the coronavirus pandemic, while Airbus is pausing production at two sites to bolster health and safety measures.
Airbus announced plans to halt operations at its plants in France and Spain for four days as the coronavirus crisis spread from battered airlines to the manufacturing sector.
Credit Suisse will be giving employees needing to care for children and family members affected by the coronavirus outbreak a month of paid leave through mid-April, its chairman and CEO told staff in a memo late on Monday.
Abu Dhabi’s Etihad Airways said on Tuesday it was expanding its cargo network to markets where passenger operations have decreased due to the coronavirus epidemic.
Uber Technologies Inc on Tuesday began suspending shared rides on its ride-hailing platform in the United States and Canada to limit the spread of the coronavirus.
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.
French carmaker Renault said on Tuesday that it was halting operations in Spain following the declaration of a state of emergency there in light of the coronavirus crisis.
Airbus is stopping production and assembly activities at its plants in France and Spain for the next four days as governments there implement new measures to restrict movements and fight the coronavirus outbreak, the planemaker said on Tuesday.
Airbus announced it would stop production and assembly activities at its plants in France and Spain for the next four days, as governments there implement new measures to restrict movements and fight the coronavirus outbreak.
U.S. electric vehicle maker Tesla Inc plans to operate its Fremont factory on Tuesday, when San Francisco’s Bay Area begins a three-week lockdown to rein in the spread of a coronavirus, the Electrek online media said.
Asian shares held their ground on Tuesday in a volatile session following one of Wall Street’s biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Tesla Inc Chief Executive Officer Elon Musk sent employees an email on Monday telling them to stay at home if they felt ill or uncomfortable, two people who saw the memo told Reuters.
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