Nissan slashes capacity by a fifth after first loss in 11 years
Nissan Motor Co said on Thursday it would slash its production capacity by a fifth to help reduce its fixed costs by 300 billion yen ($2.8 billion) as it looks to become a smaller, more cost-efficient automaker following a slide in sales.
Spain says Nissan has decided to close its Barcelona plant
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 worldwide restructuring plan, the Spanish government said on Thursday.
From bikes to blockchain: Shipping industry goes digital in lockdown
The coronavirus lockdown has accelerated a digitalisation drive in a global shipping and logistics sector that still routinely delivers many documents by bike messenger in some countries, according to industry leaders.
Safran shares lifted by Boeing 737 MAX restart plan
Safran shares rose on Thursday after Boeing said it would restart production of its 737 MAX jet and announced further cost-cutting measures.
Britain’s easyJet to axe up to 30% of staff
British low cost airline easyJet said it planned to cut up to 30% of its staff, or 4,500 jobs, and shrink its fleet, to fit the smaller market that will emerge from the coronavirus pandemic.
EasyJet not planning equity raise, doesn’t rule it out in future: CEO
Britain’s easyJet is not planning on raising new equity currently but its chief executive did not rule it out in future as the low-cost airline seeks to survive the coronavirus pandemic which has wiped out air travel.
EasyJet will not fly to Italy with distancing on planes: report
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 falls as surprise U.S. stock build douses demand recovery hopes
Oil prices fell 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 ease coronavirus lockdowns.
Alibaba extends its reach in China as coronavirus outbreak opens doors
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.
Trump’s executive order targets political bias at Twitter and Facebook: draft
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 familia…
