Virus forces Luxottica to break Italian August holiday tradition
Eyewear maker Luxottica said it would cut to just one week its customary August closure, a move which other firms may seek to replicate to relaunch production after the forced shutdown in the current coronavirus crisis.
Russia does not rule out returning to oil talks with Saudi Arabia
Russian Energy Minister Alexander Novak said on Thursday that Moscow may return to oil negotiations with Saudi Arabia after talks collapsed last month, which, coupled with the spread of the new coronavirus, dragged oil prices to their 18-year lows.
Saudi Arabia and Russia signal readiness to cooperate on oil
Saudi Arabia and Russia signalled on Thursday they were ready to cooperate to help stabilise the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in dema…
Planemakers brace for sharp cuts in wide-body output: sources
Planemakers are looking at drastic cuts in wide-body production amid a slump in demand for the industry’s largest jetliners, manufacturing and supplier sources said on Thursday.
U.S. factory orders unchanged in February
New orders for U.S.-made goods were unexpectedly flat in February, and could remain weak as a global coronavirus outbreak strains supply chains and undercuts the manufacturing sector.
Healthcare stocks show their defensive allure in ailing market
The coronavirus pandemic is throwing a spotlight on stocks in the U.S. healthcare sector, home to the companies that could develop treatments, vaccines and improved diagnostics needed to tackle the greatest public health crisis in a century.
Ford says post-crisis support for U.S. customers ‘would be appropriate’
Ford Motor Co’s U.S. sales chief said on Thursday the automaker believes some level of government stimulus will be needed for consumers once the coronavirus pandemic recedes and that the crisis will spur a permanent shift toward more online vehicle sa…
Dollar advances for second day, shrugs off record U.S. jobless claims
The dollar rose for a second straight day against a basket of currencies on Thursday as investors, worried about the prospect of a global recession continued to take shelter in the greenback.
British Airways in union talks to suspend around 32,000 staff, scraps dividend
British Airways is in talks with its union about a plan to suspend around 32,000 staff, a person familiar with the situation said, marking one of the industry’s most dramatic moves yet to survive the coronavirus pandemic.
Southwest Airlines to apply for U.S. government aid as demand craters
Southwest Airlines Co said on Thursday it intends to apply for U.S. government aid to help it ride out the sharp drop in travel demand caused by the massive lockdowns because of the coronavirus pandemic.
