Europe’s largest planemaker could set out its largest ever reorganisation plan by Wednesday, union sources said ahead of meetings early this week with Airbus, which declined to comment.Airbus needs to move swiftly to counter the damage caused by a drop of some 40% in .. Read the news
Other data on Thursday reinforced expectations that the economy would contract in the second quarter at its deepest pace since the Great Depression. Though orders for key capital goods rebounded in May, the increase recouped only a fraction of the steep decline in April.. Read the news
Data from the Fed on Thursday showed its peer banks around the world this week tapped it for the fewest dollars in nearly three months, and it was the main factor driving a surprise reduction in the Fed’s $7 trillion balance sheet - the first since February and the la.. Read the news
The business has seen declining revenue and temporary store closures due to the COVID-19 pandemic, which will continue to hurt its operating performance in the near term, FedEx said in a filing.FedEx does not expect to make any current or future cash expenditure as a re.. Read the news
Deadly clashes between Indian and Chinese troops on the Himalayan border, a surge in coronavirus cases and its second sovereign credit rating cut of the month on Thursday has thrown the country back into the international spotlight this week.It is unfortunate timing, co.. Read the news
Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to comply better with oil cuts, sources said. This means curbs by the Organization of Petroleum Exporting Countries and allies, known as OPEC+, could deepen in July.“There is enthusiasm in th.. Read the news
CalAmp, a technology solutions transforming the mobile connected economy, today announced its subsidiary, LoJack México, the stolen vehicle recovery and innovative automotive services firm in Mexico and across Latin America, has signed a partnership agreement wit.. Read the news
As communicated in the quarterly report for the first quarter, saving measures have been initiated throughout Sandvik due to the challenging market situation following the COVID-19-pandemic. Today, Sandvik gave notice of layoffs in Sweden for 429 positions within its .. Read the news
The treatment of kidney failure is a growing issue in public health policies. Necessary for the survival of patients, it has an irremediable impact on life and gives those suffering from End Stage Renal Disease (ESRD) the feeling of surviving rather than living. It is a.. Read the news
Beijing reported its second consecutive day of record numbers of virus cases and hospitalisations rose in some U.S. states, leading investors to reassess their assumption of a swift V-shaped recovery.“I am convinced that if cases continue to rise again, market partici.. Read the news
Borders opened up across Europe on Monday after three months of coronavirus closures that began chaotically in March. But many restrictions persist, it's unclear how keen Europeans will be to travel this summer and the continent is still closed to Americans, Asians .. Read the news
Travel bans that started with Covid-19 epidemic, forced the integration of technology and innovation in real estate sector. Visiting the properties through virtual tours and making transactions online have become the new normal. Moreover, use of cryptocurrencies in prop.. Read the news
One thing that clearly can be predicted is China’s past two decades image of being a hardware base for the world will never be the same post pandemic as before. First half of the year 2020 is evident that the economic contagion that is spreading faster than COVID-19 h.. Read the news
“I therefore encourage you, as policymakers, not to let this crisis go to waste,” Lagarde told Italian policymakers via video-link during a consultation launched by the government.“My institution, the ECB, will play its part within its mandate. But it is for you t.. Read the news
Finance Minister Tito Mboweni is expected to unveil a major shake-up in spending and revenue forecasts for the recession-hit economy when he tables a supplementary budget pencilled in for June 24.“We have to adapt to the new situation. A new situation in my view ... r.. Read the news
As the United States feels the pressure of rising unemployment and hardships related to the COVID-19 pandemic, Dallas-based Chef Bobo Brand, Inc. has partnered with The Salvation Army to provide more than 100,000 twin packs of the company's famed Crunchy Rollers.. Read the news
Spot gold was up 0.2% to $1,717.97 per ounce at 0928 GMT, having jumped more than 1% in the last session. U.S. gold futures gained 0.2% to $1,725.30.“While you can be optimistic about the fact that the U.S. economy did add some jobs, that doesn’t necessarily mean th.. Read the news
The government’s involvement in the recapitalisation follows the double blows of Hong Kong’s political unrest and the coronavirus outbreak, which Cathay said meant it was burning through about HK$3 billion ($387 million) a month in cash.Around the world, states have.. Read the news
The move underscores the challenge Japan faces in trying to support an economy already slipping into recession, without losing control of its tattered finances. Its public debt is among the highest in industrialised nations.“Japan’s weak government finances have det.. Read the news
A lot of concerns surrounding food industry since years is now seeking attention due to COVID-19 and urging the society to define the new future of food. In days ahead players across the food value chain industry including suppliers, retailers, farmers, restaurants or e.. Read the news
The rescue plan for SAA, which has not made a profit since 2011, has been repeatedly pushed back amid fierce wrangling over the airline’s future.The government and unions have been pressing for SAA to be salvaged in some form, despite its longstanding frailties being .. Read the news
Europe’s blue-chip stock index opened 0.5% lower after its best weekly gain in more than eight years. The index was dragged down by healthcare and tech stocks, which were resilient throughout the coronavirus crisis.U.S. S&P 500 futures inched 0.1% lower, giving up mos.. Read the news
Of the almost 1,800 rating cuts or downgrade warnings S&P Global has made since the virus exploded, 420 have been in emerging markets, nearly half of all the EM issuers the ratings agency monitors.With Latin America now the epicentre of the pandemic the numbers are set .. Read the news
Drugmakers around the world are scrambling to develop a treatment or vaccine for COVID-19, the respiratory disease caused by the highly infectious new coronavirus which has so far killed nearly 400,000 people worldwide.“We will be securing production facilities in par.. Read the news
Over the last months, huge efforts have been made worldwide to stem the spread of the coronavirus. Travel in Europe is slowly restarting. In expectation of a normalisation of tourism, AIDA Cruises is working intensively on detailed plans for a speedy restart.However, .. Read the news
The MSCI world equity index, which tracks shares in 49 countries, rose to its highest since March 6, having gained throughout the Asian session.The index is down more than 7% year-to-date, amid pandemic lockdowns that have pushed many economies into contraction.MSCI’s.. Read the news
The A$2 trillion ($1.39 trillion) economy contracted 0.3% in the three months ended March, the Australian Bureau of Statistics said, the first decline in nine years.That took annual growth to 1.4%, the slowest since the 2009 global financial crisis, as the economy was h.. Read the news
While China - the world’s second-largest oil consumer - is the outlier for now, easing travel restrictions and stimulus packages aimed at resuscitating economies could accelerate global oil demand in the second half of 2020, industry executives said.“The brisk resum.. Read the news
President Cyril Ramaphosa was widely praised when he ordered a strict lockdown at the end of March, but the measures have battered the economy of Africa’s most industrialised nation, which was already in recession before the coronavirus.South Africa’s central bank e.. Read the news
COVID-19 is the main cause of mass layoffs owning to businesses' downsizing, dissolution, and staff reduction. In the US, just 1 month after the outbreak, more than 400 startups have announced to let go of more than 50,000 jobs. This number is just a tip of the ice.. Read the news
Shares in the world’s No. 2 maker of packaged coffee, whose brands include Douwe Egberts, Peet’s Coffee and Jacobs, were priced at 31.50 euros, valuing the firm at 15.6 billion euros ($17.3 billion). They were trading at 35.55 euros by 0755 GMT.JDE Peet’s raised 7.. Read the news
EasyJet, which employs more than 15,000 people in eight countries across Europe, is moving later than others in announcing job cuts as a result of the coronavirus pandemic, which has brought airlines across the world to their knees.Most have been forced to cut jobs, inc.. Read the news
While many companies are hurting from disruption caused by the virus, Alibaba has seen traffic at its online marketplaces shoot higher and demand grow for services like food delivery. Local authorities have even turned to its cloud business to build health-tracking apps.. Read the news
The outbreak also risks creating a “lockdown generation” of young people forced to play catch-up on the labour market for at least 10 years, the Geneva-based body said.Its report left its estimate for second quarter job losses - calculated in terms of working hours .. Read the news
Aircall, a cloud-based voice platform helping companies across the globe manage millions of customer support and sales calls every day, today announced it has closed $65 million in Series C funding, led by DTCP with participation from new investors Swisscom Ventures.. Read the news
Ten big open-ended property funds tracked by Morningstar, with a total of 6.5 billion pounds under management, stopped investors from getting their money out in mid March, saying valuers could not accurately assess real estate assets in a plunging economy.With question .. Read the news
4DMedical, an Australian medical technology company specializing in medical imaging innovation software, announced today it has received clearance from the U.S. Food & Drug Administration to market its XV Technology™, a patented four-dimensional lung imaging proce.. Read the news
Almost a year ago, the thought of Robotics and automation replacing humans at several places used to scare people, but now with COVID-19 pandemic creating worldwide shutdown, it would have been better if robots were already there doing human jobs.It has already been mor.. Read the news
The Federal Statistics Office said capital investments fell by 6.9%, private consumption by 3.2% and exports by 3.1%.This meant that private consumption took off 1.7 percentage points of overall economic activity and net trade shaved off 0.8 percentage points, leading t.. Read the news
Spot gold was down 0.5% at $1,726.18 per ounce by 0512 GMT. U.S. gold futures were fell 0.5% to $1,726.60.“I think the play into stocks and other risk assets has probably supported the risk appetite, and diminished the appeal for gold in the short term,” said IG Mar.. Read the news
The ugly trade numbers come as policymakers seek to balance virus containment measures against the need to revive battered parts of the economy, with the risk of a second wave of infections only complicating this challenge.The central bank will hold an emergency meeting.. Read the news
President Cyril Ramaphosa imposed a 21-day lockdown from March 26, that was later extended to the end of April.This prompted property owners and tenants to work together, under government guidelines, to defer rent payments and find other solutions that allow shops, busi.. Read the news
Two-thirds of the 347 respondents to the survey - carried out in response to the outbreak - put a lengthy contraction in the global economy top of their list of concerns for the next 18 months.Half of risk managers expected bankruptcies and industry consolidation, the f.. Read the news
The plans of companies like BP, Royal Dutch Shell and Total are in step with the European Union’s efforts to transition to a lower-carbon economy and away from a century-old reliance on oil, and reflect the region’s widening rift with the United States where both t.. Read the news
Interviews with a dozen current and former government officials, industry executives and members of Congress show widespread discussions underway - including the idea of a “reshoring fund” originally stocked with $25 billion - to encourage U.S. companies to drastica.. Read the news
Cruise officials acknowledged they were cutting jobs, but declined to confirm the number. According to an internal email partially read to Reuters, about 8% of the staff would be cut, which amounts to more than 140 people.The outbreak has caused funding to dry up in the.. Read the news
The eSIM assures of a tremendous future towards streamlining the design and connectivity of devices in a swiftly evolving landscape of IoT. In addition, it has been designed for flexible provisioning with the capacity of creating the devices immune to the evolution of f.. Read the news
Airlines for America (A4A), the industry trade organization for the U.S. airlines, applauds the addition of a seventh annex to ASTM International's sustainable aviation fuel (SAF) specification, D7566, which will further enable the use of SAF by the U.S. airlines.. Read the news
The Labor Department said on Wednesday its producer price index for final demand tumbled 1.3% last month, the biggest decline since the series was revamped in December 2009, after slipping 0.2% in March. In the 12 months through April, the PPI decreased 1.2%. That was t.. Read the news
India has more than 70,000 cases among its 1.3 billion population and is set to surpass China, the origin of the outbreak, within a week. Modi said strict stay-at-home orders would be extended beyond May 17 with a new set of rules.In an address to the nation, he said th.. Read the news
The past few months have been very difficult for the entire travel industry with cancellations happening followed by major refunds resulting at the major financial crisis. However, to get back in track and attract customers the companies in this highly competitive lands.. Read the news
Logitech, which makes webcams, keyboards, mouses as well as video conferencing devices and software, said its fourth-quarter sales rose to $709.2 million, compared with $624.3 million a year ago.Non-GAAP operating income rose 23.3% to $79 million in the quarter that end.. Read the news
Donald Trump had imposed tariffs over nearly USD 360 billion worth Chinese goods for which the Trump administration, as well as Beijing, had entered phase one of the trade agreement in January 2020 anticipated for easing the tension. However, the progress was derailed a.. Read the news
The British government said non-essential retailers would not go back to work until June at the earliest while other sectors will not go back to work until July at the earliest, Foreign Secretary Dominic Raab said on Monday.“There’s the other changes for things like.. Read the news
Orexo AB (publ.) today announces it has acquired the exclusive US rights to GAIA AG's (GAIA) deprexis®, a digital therapy to help patients manage their symptoms of depression and one of the most researched digital therapies in the world. Today's announcement .. Read the news
The German bank, still considered by regulators to be one of world’s the most important in terms of financial market stability, is trying to recover after five consecutive years of losses totalling more than 15 billion euros (13 billion pounds).Crucial to the bank’s.. Read the news
The company said it had suspended dividend payments until further notice and was cutting planned investment this year by a quarter, but Chief Financial Officer Aditya Mittal said that while there was much uncertainty, the second quarter could be the trough. Lockdowns we.. Read the news
Industrial wearables including AR glasses, VR headsets, smartwatches, and patches are mainly aimed at enhancing workplace efficiency, productivity & safety by continuous monitoring of individuals to avoid any damage to life and industrial assets in manufacturing, logist.. Read the news
The profit margin, known as the crack spread, for benchmark gasoil with 10 parts per million of sulphur in Singapore, fell to $1.77 a barrel over Dubai crude on Tuesday, the lowest on record in Refinitiv Eikon data that goes back to January 2014. The margin has dropped .. Read the news
South African private sector activity fell to a new record low in April, a business survey showed on Wednesday, as company closures due to a nationwide coronavirus lockdown led to a collapse in demand.Markit’s Purchasing Managers’ Index (PMI) tumbled to 35.1 in Apri.. Read the news
Lufthansa is not planning to buy rivals weakened by the coronavirus crisis, Chief Executive Carsten Spohr told shareholders at the company’s virtual annual general meeting on Tuesday.“Our focus is on stabilising Lufthansa in its current form and not on acquiring ot.. Read the news
Fiat Chrysler said on Tuesday it turned to a net loss in the first quarter as a consequence of the crisis triggered by the spread of the coronavirus.“The pandemic has had, and continues to have, a significant impact on our operations,” Fiat Chrysler (FCA) said in a.. Read the news
Ferrari said it now saw its 2020 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) edging down from the previous year to between 1.05-1.20 billion euros.In February, Ferrari had guided for an increase in 2020 EBITDA to between 1.38-1.43 bill.. Read the news
European shares opened down 2.5% with U.S. stock futures trading close to 1% in the red.Earlier, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.5%, pulled down by Hong Kong where the Hang Seng returned from a two-session holiday with its biggest dro.. Read the news
The world’s largest fast-food company said about 75% of its about 39,000 restaurants around the world were operational as of Thursday, including almost all of its nearly 14,000 restaurants in the United States.The company said it had resumed operations in a majority o.. Read the news
Key Biologics and Astarte Biologics, together the provider of research- and clinical-grade human immune cells, blood products, and related services to the biopharmaceutical industry, today announced the launch of an IRB-approved initiative to support the research, thera.. Read the news
The U.S. central bank may also signal how long, and by what benchmark, it plans to leave interest rates near zero after the recovery begins from what many economists forecast will be the sharpest downturn in recorded U.S. history this quarter.What no one is expecting fr.. Read the news
“We know we’re going to have to borrow more money in the next six months in order to get through this really difficult moment, to provide the right liquidity to the supply chain that represents our industry,” Calhoun said during the company’s virtual annual gene.. Read the news
COVID-19 outbreak has all of a sudden halted the entire global economy especially the airline sector that was already gearing up a successful 2020 start.Eyeing at the prevailing situation, the airline industry across the globe has heavily been impacted with entire inter.. Read the news
StimulusPlanner.com, an independent portal that helps small businesses navigate the complex web of federal stimulus programs, was launched this week. The digital portal provides free tools and resources to help businesses get fast funding through government stimulus p.. Read the news
According to a report by The Insight Partners, “Keeping the pace of development of disruptive technologies, such as machine learning (ML) and artificial intelligence (AI), several embedded system providers are intense to develop brain chips, where the chips will be pr.. Read the news
The world’s largest pizza chain, however, withdrew its two- to three-year outlook, citing uncertainty surrounding the global economy due to the health crisis.The new coronavirus has infected more than 2.62 million people globally, including nearly 840,000 in the Unite.. Read the news
Mnuchin said on Fox Business Network it was “questionable” whether some larger companies qualified for the Paycheck Protection Program (PPP), based on a self-certification step in the loan process. He said businesses need to look carefully at their applications to b.. Read the news
United Airlines today announced that it has transformed one of its cargo facilities at George Bush Intercontinental Airport into a food distribution center to aid the Houston Food Bank's efforts to feed families in need during the COVID-19 crisis. The idea to conve.. Read the news
AkitaBox™, the building management software solutions, announced today that it will release AkitaBox DeepClean Assurance, a cloud-based software application that drives cleanliness best practices in buildings and enables a safe return to work. The application wil.. Read the news
The United Kingdom’s novel coronavirus outbreak is starting to peak but it is too early to lift the lockdown because the virus would “run rampant” if the government eased social distancing measures, Health Minister Matt Hancock said on Thursday.The United Kingdom .. Read the news
UnitedHealth Group Inc on Wednesday reported a better-than-expected quarterly profit due to strength in the pharmacy benefit business and maintained its forecast for the year, sending the company’s shares up nearly 3% before the bell.UnitedHealth, the first health ins.. Read the news
Bank of America fell 2.7% in premarket trading as it joined JPMorgan Chase & Co and Wells Fargo & Co in reporting a plunge in quarterly profit and setting aside billions for potential loan losses tied to the coronavirus pandemic.Goldman Sachs Group Inc also set aside.. Read the news
Uber Technologies Inc on Wednesday said customers in New York City and the Miami area could now order restaurant meal deliveries over the phone, instead of through its app, as it aims to expand its service to older Americans.Users can dial a toll-free number and talk to.. Read the news
Britain’s finance minister has told colleagues the economy could shrink by up to 30% this quarter because of the coronavirus lockdown, a newspaper reported, as the soaring death toll gave little hope restrictions would soon be lifted.The number of COVID-19 deaths in h.. Read the news
One thing that clearly can be predicted is China’s supply chain, which will never be the same as before the pandemic. Recent months have completely disrupted the supply chains affecting a large number of businesses across the world. Unlike always this time the disrupt.. Read the news
The outlook for India’s economic recovery has been sharply altered by the coronavirus outbreak, the central bank said in its Monetary Policy Report, underlining the pandemic’s deepening impact on South Asia’s engine of growth.“Prior to the outbreak of COVID-19, .. Read the news
Global automakers reeling from the COVID-19 pandemic are accelerating efforts to restart factories from Wuhan to Maranello to Michigan, using safety protocols developed for China and U.S. ventilator production operations launched in recent weeks.Certain safety measures .. Read the news
UBS and Credit Suisse have decided to pay out part of their dividend for 2019 later this year after financial markets watchdog FINMA criticised the Swiss banks’ decision to maintain a full payout during the coronavirus crisis.UBS said it would pay out its dividend of.. Read the news
The U.S. government’s massive effort to nurse the economy through the coronavirus crisis was billed as a send-money-and-don’t-sweat-the-details flood of cash to people and businesses in a $22 trillion system that has ground to a halt.So far, the checks are not in th.. Read the news
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.1% month over month in March. This brought the Manheim Used Vehicle Value Index to 141.9, a 4.4% increase from a year ago.With increases in the weekly Manheim Market Report (M.. Read the news
South African banking stocks opened more than 4% down on Tuesday after the central bank’s advice on Monday to refrain from dividend payouts as the country contends with the widespread economic damage inflicted by the coronavirus pandemic.The South African Reserve Bank.. Read the news
Japan will sell a record amount of extra bonds this fiscal year, worth more than $165 billion, straining the industrial world’s heaviest debt burden, as Tokyo compiles a record stimulus to combat the coronavirus.Prime Minister Shinzo Abe on Tuesday rolled out a packag.. Read the news
In Canada, where farms rely on 60,000 temporary foreign workers, their arrivals are delayed by initial border restrictions and grounded flights. Once they arrive, the federal government requires them to be isolated for 14 days with pay, unable to work.In the United Stat.. Read the news
Dairy farmer Jason Leedle felt his stomach churn when he got the call on Tuesday evening.“We need you to start dumping your milk,” said his contact from Dairy Farmers of America (DFA), the largest U.S. dairy cooperative.Despite strong demand for basic foods like dai.. Read the news
Novartis AG on Thursday scrapped the $1 billion sale of U.S. generic pill and skin drug assets to India’s Aurobindo Pharma Ltd as regulators balked, setting back the Swiss drugmaker’s shift to more profitable medicines.The cancellation leaves hydroxychloroquine, an .. Read the news
There is no comparison between the 2008 economic crisis and the 2020 Pandemic crisis that the world is going through. Rather, coronavirus has given a shock to the global economy that is very similar to the great depression of 1929. Alike 1929, this economic crisis is al.. Read the news
A seafood company, Chicken of the Sea has a long-standing commitment to operate in a socially and environmentally responsible way in order to bring consumers healthy, responsibly sourced seafood. In response to the challenging times presented by the COVID-19 pandemic, C.. Read the news
The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.Thur.. Read the news
U.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry “ravaged” by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia.Trump also said he had tal.. Read the news
Fiat Chrysler Automobiles NV on Wednesday posted a 10% drop in first-quarter auto sales in the United States, as the fast-spreading coronavirus outbreak hurt demand and halted production from mid-March.Shares of the company fell 4.2% to $6.80 in early trade.The pandemic.. Read the news
African finance ministers want International Monetary Fund, World Bank and EU support for bilateral, multilateral and commercial debt relief amid the coronavirus crisis, the UN Economic Commission for Africa (UNECA) said.Africa is facing a perfect storm of an impending .. Read the news
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