Lockheed Martin’s Hewson to step down as CEO
Lockheed Martin Corp said on Monday Marillyn Hewson will step down as chief executive officer, effective June 15.
Feed the hamster: German retailer asks students to restock shelves
A German supermarket chain called on Monday for students whose universities have shut due to the coronavirus crisis to help it refill its shelves after shoppers stockpiled many essential goods, known as “hamstering” in German.
Brent falls 10%, WTI below $30 as coronavirus spreads
Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China’s factory output plunged at the sharpest pace in 30 years amid the spread of coron…
Zero rates, zero impact: Fed & co fail to calm markets
Stock markets and oil prices continued to nose-dive on Monday after the second emergency cut in U.S. interest rates in as many weeks — effectively to zero — and supportive measures from all corners failed to quell coronavirus fears.
Ryanair slashes flights, says could ground entire fleet
Ryanair will ground most of its aircraft over the next seven to 10 days as Europe’s biggest low-cost airline braces for an up to 80% cut in capacity over the next two months and could even ground its entire fleet due to coronavirus travel restrictions…
Starbucks temporarily moves to ‘to go’ model amid virus outbreak
Starbucks Corp has moved to a “to go” model in all its company-owned stores in the United States and Canada for at least two weeks to facilitate social distancing among customers amid the spread of coronavirus, the coffee chain said on Sunday.
Hong Kong’s Cathay Pacific to sell six Boeing aircraft to BOC Aviation
Hong Kong’s Cathay Pacific Airways Ltd on Monday said it would sell six Boeing 777-300ER aircraft and its associated equipment for $703.8 million to BOC Aviation Ltd .
French antitrust regulator fines Apple $1.2 billion
France’s competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros ($ 1.23 billion), saying it was guilty of anti-competitive behavior towards its distribution and retail network.
Skoda, Hyundai’s Czech plant unions call for production halt: CTK
Unions at the Czech car factories of Volkswagen’s Skoda Auto and Hyundai Motor Co. have called for a 14-day quarantine for employees, which would halt production for that time, news agency CTK reported on Monday.
After the Fed, the dollar may not subside
When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction.
