Finablr raises doubts about its future, CEO leaves
Payments group Finablr on Monday expressed doubts about its ability to continue as a going concern and said its chief executive would step down.
Exclusive: Flying blind – Marubeni’s Gavilon ignored Brazilian red flags
When Japanese conglomerate Marubeni booked a loss of 3.9 billion yen ($35 million) at its U.S. grain trader Gavilon in November, it blamed adjustments for “inappropriate transactions” with Italy and Spain.
BA owner, easyJet make drastic cuts to try to survive coronavirus
The owner of British Airways and easyJet, Europe’s no.3 and no.4 airlines, warned aircraft would be grounded on an unprecedented scale in a battle to survive the coronavirus, but while easyJet said state aid was needed, BA’s owner talked of self-help.
Airlines seek emergency aid as coronavirus brings industry to near-halt
Airlines made unprecedented cuts to flights, costs and staffing on Monday, stepping up calls for emergency aid as coronavirus lockdowns and new travel restrictions hit more major routes.
Fiat Chrysler halts production in Europe as coronavirus hits demand
Fiat Chrysler Automobiles (FCA) is halting production for two weeks at most of its European plants to help protect staff against the coronavirus pandemic and adjust to a slump in demand, the Italian-American carmaker said on Monday.
Futures pounded as Fed’s aggressive rate cut fans recession fears
Wall Street looked set to crater on Monday after the Federal Reserve’s aggressive move to cut interest rates to nearly zero heightened fears of the economy tipping into a coronavirus-driven recession.
French antitrust body fines Apple 1.1 billion euros for anti-competitive behavior
France’s competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behavior in its distribution network and an abuse of economic dependence on its resellers.
Ryanair grounds most of its fleet across Europe for the next week
Ryanair said on Monday it would ground most of its aircraft in Europe over the next seven to 10 days, expects to cut seat capacity by 80% for the next two months, and could even ground its entire fleet, given travel restrictions due to the coronavirus…
Volkswagen’s Portugal plant reduces output by 16% due to coronavirus
Volkswagen’s Autoeuropa car assembly plant near Lisbon has reduced its daily output by 16% because of a shortage of workers after Portugal ordered all schools closed amid the coronavirus outbreak, the plant said on Monday in a statement. ´
Sanofi says production running as per normal, sees no shortages
Sanofi on Monday said its production sites were running normally in Europe and elsewhere as the coronavirus outbreak hits business activity globally, although the drugmaker has put in place contigency plans to ensure continuity.
