Delta parking 600 jets, cutting more executive pay and flights as revenue tanks
Delta Air Lines said on Wednesday it was parking more than 600 jets — at least half of its fleet — cutting more flights and implementing a round of paycuts for officers, managers, and directors while members of the board forgo compensation.
Exclusive: U.S. is considering measures to boost lending to low-income Americans – source
U.S. regulators are considering issuing guidance that would encourage lenders to offer loans to low-income individuals and to provide leniency on some repayments amid the coronavirus pandemic, an official within a banking agency told Reuters.
Trump administration wants to send taxpayers $500 billion, $50 billion in loans for airlines
The Trump administration on Wednesday asked Congress to approve $500 billion in cash payments to taxpayers in two rounds that would start April 6 and $50 billion in secured loans to U.S. airlines to address the financial impact of the coronavirus, acco…
GM to furlough all workers in Brazil on March 30, suggesting production stop
General Motors Co will furlough all its employees in Brazil starting on March 30, the company said in a statement to Reuters on Wednesday, suggesting that GM’s production in South America’s main car market would stop due to the coronavirus outbreak.
Southwest cancels more than 50 flights after Chicago Midway tower closes
Southwest Airlines Co said Wednesday it is canceling more than 50 flights after the Federal Aviation Administration (FAA) extended the shutdown of the air traffic control tower at Chicago Midway International Airport following reported coronavirus cas…
U.S. restaurants seek $455 billion of federal aid due to coronavirus hit
U.S. restaurants on Wednesday asked the White House and congressional leaders for at least $455 billion in aid to help them weather the coronavirus crisis, saying the industry could shed nearly half of its 15.6 million jobs and a quarter of annual sale…
Thyssenkrupp considers production cuts as coronavirus spreads
Thyssenkrupp , a major supplier to the automotive industry, on Wednesday said it was considering shortened working hours as carmarkers reduce or suspend production due to the coronavirus crisis.
Goldman tells most staff in Americas, EMEA to work from home
Goldman Sachs said it has instructed most of its staff in the Americas, Europe, the Middle East and Africa to work from home from Wednesday until further notice, according to an internal notice the bank posted on its website late on Tuesday.
U.S. crude plunges to 18-year low as lockdowns spread
Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low and Brent a 16-year low as Goldman Sachs said lockdowns to counter the coronavirus pandemic raised prospect of the steepest ever annual fall in oil demand.
Renault and PSA can benefit from French coronavirus measures: finance ministry
French carmakers PSA and Renault are entitled to benefit from all measures put in place to fight the economic impact of the coronavirus outbreak, France’s Finance Ministry told Reuters on Wednesday.
