Business & Finance News
Ryanair’s Austrian carrier Lauda said on Friday it was closing down its Vienna base after failing to reach an agreement with unions on pay, and had already relocated many of its 15 planes to other bases.
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.
Aircraft makers are circling Brazil’s Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said.
Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain.
The S&P 500 and Dow slipped on Friday as investors were nervous ahead of a U.S. response to China’s national security law on Hong Kong that threatens to take the shine off another month of strong gains for the stock market.
China just concluded its closed-door annual meeting of parliament, the National People’s Congress (NPC), with top officials making clear that employment is the top priority.
The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China’s national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market.
OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.
Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic.
The S&P 500 and the Dow were set to open lower on Friday as investors braced for a U.S. response to China’s national security law on Hong Kong, threatening to take the shine off another month of strong gains for Wall Street.
Giovanni Pili, a worker at a Renault factory in France, was on Friday savoring the fact that he was not laid off in a global shakeup at the carmaker, and trying not to think too much about the uncertain future facing his plant, and his industry.
German automaker Volkswagen will have full management control of its JAC-VW joint venture, the company’s China CEO said on Friday.
Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong.
Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong.
Investors are taking a closer look at the market’s consumer discretionary companies as a reopening U.S. economy fuels hopes of a turnaround for some of the sector’s hardest-hit names.
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