American Airlines slashes flights but has no plans to halt U.S. service
American Airlines Co said on Thursday it is cutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic.
Airline industry braces for prolonged recovery from coronavirus crisis
International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic.
Retail sector companies turn to masks, gloves in coronavirus fight
Major U.S. retail sector companies on Thursday moved to allay health and safety concerns of staff working at warehouses and stores through the coronavirus pandemic by promising face masks, gloves and sanitizers.
U.S. crude futures trim record gain
Benchmark U.S. crude fell more than 1% in early trade on Friday, coming off its biggest one-day gain in the previous session after U.S. President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut.
Disney to furlough some U.S. employees in wake of coronavirus
Walt Disney Co said on Thursday it will start furloughs of non-essential U.S. employees across the company on April 19, a response to the global coronavirus outbreak that has shut down or disrupted its media and theme park businesses.
GM rolls out safety protocols for ventilator-making workers
General Motors Co on Thursday rolled out a series of safety measures for workers in Indiana who will make ventilators, outlining what could be a blueprint for opening U.S. auto plants in the coming weeks.
Chipotle under pressure in New York over coronavirus sick leave
Less than two months after settling with New York City regulators over paid sick leave, Chipotle Mexican Grill Inc is under pressure for its policies amid the coronavirus pandemic.
Fed balance sheet increases to record $5.86 trillion
The Federal Reserve’s balance sheet increased to a record $5.86 trillion this week and the central bank reported greater use of some of its newly launched liquidity facilities, all part of its efforts to keep markets functioning smoothly amid heightene…
JPMorgan Chase probably unable to accept small business loan applications Friday: memo
JPMorgan Chase & Co emailed many small business customers on Thursday to tell them it is still awaiting federal guidance on the small business loans program Congress approved last week, and it may not be ready to accept applications when the program launches on Friday.
U.S. gig workers seeking coronavirus jobless benefits hit bureaucratic wall
Uber and Lyft drivers are hitting a wall in their efforts to apply for the coronavirus jobless benefits promised by Congress as state agencies say they are not ready to handle a class of workers who are totally new to the U.S. unemployment system.
