Exclusive: U.S. companies got emergency government loans despite having months of cash
When American companies recently applied for U.S. government loans meant to help small businesses survive the coronavirus crisis, they had to certify they needed the cash to cover basic needs like salaries and rent. The money, up to $10 million, was me…
Wall Street jumps as PayPal outlook, China data fuel recovery hopes
U.S. stocks jumped on Thursday as an upbeat outlook from PayPal and a surprise rise in Chinese exports raised hopes of a faster economic recovery from what is expected to be a deep coronavirus-led recession.
Airbus deliveries plunge 80% in April
Airbus deliveries tumbled 80% to just 14 aircraft in April, compared with a year earlier, as operations were hit by the coronavirus crisis, company data showed on Thursday.
How Deere, Caterpillar kept plants running during the coronavirus outbreak
While Detroit automakers’ unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere and Caterpillar have won the support of the United Auto Workers and other unions to run their facilities duri…
Virgin Atlantic job cuts will help win new investment -internal memo
Virgin Atlantic’s planned 3,150 job cuts will show the airline is taking “self-help” measures and help it to win financial support from either the British government or a private sector investor, an internal memo to pilots seen by Reuters said.
Exclusive: Michigan governor to announce manufacturing can reopen in state – sources
Michigan Governor Gretchen Whitmer on Thursday is expected to announce that the state’s factories can reopen soon, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coro…
Lufthansa seeks 9 billion euro bailout amid political discussions
Lufthansa is negotiating a 9 billion euro ($9.71 billion) bailout with Germany’s economic stabilisation fund to ensure its future, the airline said on Thursday, confirming an earlier Reuters report.
Panama’s Copa Airlines planning to retire Boeing 737-700 fleet
Panama’s Copa Airlines said on Thursday that it is planning to retire early its fleet of 14 older Boeing 737-700 NG planes, the latest carrier to do away with planes due to the coronavirus crisis.
Millions more Americans file for jobless benefits; productivity tanks
Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.
U.S. employers must try to accommodate workers vulnerable to coronavirus: agency
The U.S. agency that enforces laws prohibiting disability discrimination said on Thursday that employers must try to accommodate workers with medical conditions that make them vulnerable to the novel coronavirus before sending them home.
