Fears of fresh virus wave hit Wall Street, S&P 500 slips below 3,000 points
Wall Street’s main indexes slumped with the S&P 500 falling below 3,000 points on Monday after a spike in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic recovery.
United Airlines pledges loyalty program for $5 billion loan
United Airlines said on Monday it is pledging its MileagePlus frequent flyer program for a new $5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.
Carmaker PSA cuts back on transfer of Polish workers to French plant
France’s PSA , the maker of Peugeot cars, on Monday said it would only transfer a small group of Polish workers to help out in a French plant where production is being increased, following a backlash over the knock-on effect for local jobs.
UAW president, U.S. prosecutor to meet for union reform talks on June 30
United Auto Workers (UAW) President Rory Gamble will meet Matthew Schneider, the U.S. attorney for the Eastern District of Michigan, at the end of the month in Detroit to begin negotiations for reforming the union, UAW said on Monday.
Goldman Sachs increases COVID-19 federal aid commitment by $250 million
Goldman Sachs Group Inc on Monday pledged an additional $250 million to fund the federal aid program to help businesses hurt by the COVID-19 pandemic.
Honeywell launches new business unit to capture drone market
Honeywell International Inc, a major supplier of aerospace products, said Monday it launched an unmanned aerial systems business to bet on the autonomous aviation space – drones, air taxis, and unmanned cargo delivery vehicles.
Wall Street tumbles at open on fear over fresh virus cases
U.S. stocks opened sharply lower on Monday as a resurgence in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic revival that drove the Nasdaq to record highs last week.
PM Orban says government ready to help Audi to allow Hungarian plant run at full capacity
Hungary is ready to give financial support to Audi to allow its Hungarian manufacturing plant to run at full capacity in the wake of the coronavirus pandemic, Prime Minister Viktor Orban was reported as saying on Monday as he visited the plant.
GE aviation head to retire, Embraer executive to take helm
General Electric Co said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial conglomerate, and would be succeeded by Embraer executive John Slattery.
Embraer swaps commercial aviation chief after failed Boeing deal
Brazilian planemaker Embraer SA said on Monday it was replacing the head of its commercial aviation unit after a planned deal to have Boeing Co take over that division fell apart in April.
