Business & Finance News
EasyJet will not fly to Italy if Rome prolongs social distancing rules on planes beyond June 15, the budget airline’s chief executive said in a newspaper interview.
Oil prices plunged on Thursday after U.S. industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries begin to ease their way out of coronavirus lockdowns.
Shares in French aerospace companies Airbus and Safran rose on Thursday, buoyed by Boeing’s announcements of more cost-cutting measures and a restart to the production of the Boeing 737 MAX jet.
Japan’s Nissan Motor Co has decided to close its factory in Barcelona, resulting in the loss of about 3,000 jobs as part of a new worldwide restructuring plan, the Spanish government said on Thursday.
Alibaba Group Holding Ltd is emerging as one of China’s biggest corporate winners of the coronavirus crisis, gaining the opportunity to expand its businesses and solidify its status as a critical part of the country’s socio-economic engine.
British low cost airline easyJet said it planned to cut up to 30% of its staff and shrink its fleet, to fit the smaller market it expects to emerge from the collapse in air travel due to the coronavirus.
Asian shares erased gains and the yuan languished on Thursday on growing worries China’s planned security law for Hong Kong would spark a broader diplomatic confrontation with the United States.
French Finance Minister Bruno Le Maire on Thursday said that the government had yet to sign off on a planned 5 billion euro ($5.5 billion) loan for Renault , and that the carmaker’s site closures and job cuts could only ever be a last resort.
U.S. President Donald Trump is expected to order a review of a law that has long protected Twitter, Facebook and Alphabet’s Google from being responsible for the material posted by their users, according to a draft executive order and a source familiar with the situation.
Impulse purchases – gum, mints and snack bars tossed into a shopping basket as one snakes through the supermarket checkout line – are falling as more people get groceries delivered or pick them up curbside.
Oil prices slid for a second consecutive session on Thursday as U.S. industry data showed a steep and surprising build-up in crude stockpiles, dampening hopes of a smooth demand recovery as the world begins to ease its way out of coronavirus lockdowns.
U.S. stocks will end this year around current levels as the coronavirus pandemic cripples the economy and eats into earnings, according to strategists polled by Reuters.
Asian shares and U.S. stock futures rose on Thursday as growing optimism about a global economic recovery from the coronavirus pandemic trumped immediate concerns about a standoff between the United States and China over Hong Kong.
Business groups are urging U.S. President Donald Trump to go slowly in responding to Bejing’s planned imposition of new national security laws on Hong Kong, warning revoking the city’s special U.S. privileges will hurt the territory and its people.
American Airlines Group Inc must reduce its management and support staff by about 30% as it moves to run a smaller airline due to the coronavirus pandemic, according to a letter to employees made public on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
