Boeing to cut staff by 10% amid coronavirus pandemic
Boeing Co CEO Dave Calhoun told employees on Wednesday that the largest U.S. planemaker is reducing the size of its workforce by about 10% amid a steep fall in travel demand due to the coronavirus pandemic.
Austria won’t help Lufthansa for nothing, says Chancellor Kurz
Austria will not help Lufthansa and its Austrian Airlines operation without receiving something in exchange and is looking to secure jobs within its borders, Chancellor Sebastian Kurz said shortly before a meeting with the German group’s chief executi…
KFC operator Yum’s first-quarter profit falls 68.3%
Yum Brands Inc reported a 68.3% fall in quarterly profit on Wednesday, as many restaurants across its four brands were closed or limited to delivery and take-away due to lockdowns to curb the rapid spread of the novel coronavirus.
Exclusive: Boeing eyes major bond issue to raise funds
Boeing Co is working with investment banks on a multibillion-dollar bond-fueled financing package as it aims to shore up its balance sheet amid a sharp travel downturn due to the coronavirus pandemic, three people familiar with the matter said on Tuesd…
Lufthansa’s Belgian carrier suspends flights until June 1
Belgium’s Brussels Airlines, a Lufthansa (LHAG.DE) subsidiary, has extended its suspension of flights until June 1, it said on Wednesday.
Wirecard slides again after short seller demands CEO’s head
Shares in Wirecard slumped again on Wednesday as a prominent short seller demanded the sacking of CEO Markus Braun after a special audit of the German payments company was unable to verify its financial statements.
Minority businesses worry they are locked out of payroll lending program
As the government issues a second round of aid for small business owners, some U.S. senators, community banking groups and minority-owned banks said they are worried businesses owned by people of color may miss out on receiving much-needed loans.
U.S. insurers want taxpayers to back pandemic coverage for businesses
The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters.
Face masks and a factory redesign: How Bentley plans reduced return to work
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
Exclusive: Amazon turns to Chinese firm on U.S. blacklist to meet thermal camera needs
Amazon.com Inc has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor Uighurs and other Muslim minorities, three people familiar w…
