U.S. unemployment offices sitting on mountain of pending claims
Last week’s record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of pending applications, and the new stimulus bill extends benefits to the self-employed.
Furniture giant IKEA making masks to help fight coronavirus
Furniture giant IKEA is producing face masks and other protective gear for hospitals, joining a growing list of companies branching out of their normal business areas to help meet equipment shortages in the fight against coronavirus.
IMF extends bilateral borrowing arrangements through 2023
The International Monetary Fund said on Tuesday its board approved a new three-year framework for bilateral borrowing agreements, ensuring that its full $1 trillion lending capacity will be maintained as member countries battle the coronavirus pandemic…
Rolls-Royce targets in jeopardy as pandemic brings air travel slump
British aero-engine maker Rolls-Royce will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.
Goldman Sachs slashes second quarter U.S. GDP estimate further
Goldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would be higher, citing anecdotal evidence and “sky-high jobless claims numbers.”
Coronavirus concerns delay restart of Ford’s North American production
Ford Motor Co said on Tuesday it was postponing its plan to restart production at its North America plants due to safety concerns for its workers amid the coronavirus pandemic.
Disney+ to launch in India on April 3: ET
Walt Disney Co’s video streaming service, Disney+, will launch in India on April 3 through its local partner Hotstar, the Economic Times reported https://economictimes.indiatimes.com/magazines/panache/amidst-lockdown-disney-plus-makes-it-way-to-india-…
U.S. proposes minimum air service rules for airlines receiving assistance
The U.S. Transportation Department on Tuesday proposed minimum flight requirements for passenger airlines receiving aid from the government’s $50 billion grant and loan fund.
Crisis-hit airlines face crippling cash squeeze, IATA says
Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the coronavirus crisis.
Virgin Money delays branch closures and job cuts due to coronavirus lockdown
British bank Virgin Money said on Tuesday that it will halt until further notice the planned closure of 52 branches and 500 job losses, as it grapples with the fallout from the coronavirus outbreak.
