Britain’s easyJet to axe up to 30% of its workforce
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 it expects to emerge from the collapse in air travel due to COVID-19.
Asian stocks turn red as Hong Kong tensions sour mood
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.
Renault loan still not signed, site closures must be last resort: Le Maire
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.
Gum, mints and snack bar sales slump, as U.S. consumers order online amid COVID-19 crisis
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 drops as surprise U.S. stock build douses demand recovery hopes
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 to end year around current levels as virus takes toll: Reuters poll
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.
New wave of U.S. layoffs feared as coronavirus pain deepens
Job cuts by U.S. state and local governments whose budgets have been crushed fighting the COVID-19 pandemic and more second-wave layoffs in the private sector likely contributed last week to a 10th straight week of more than 2 million Americans seeking…
Asian stocks gain on economic hopes, but Hong Kong risk clouds outlook
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.
American Airlines says to cut management and support staff by 30%
American Airlines Group Inc must reduce its management and support staff by about 30% and may have to cut frontline employees as it downsizes due to the coronavirus outbreak, showed a letter to employees made public on Wednesday.
U.S. business to Trump: Go slowly on Hong Kong response
Business groups are urging U.S. President Donald Trump to go slowly in responding to Beijing’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.
