British luxury carmaker Bentley to cut quarter of workforce
British luxury carmaker Bentley Motors said on Friday it plans to shed up to 1,000 jobs, nearly a quarter of its workforce, adding to the gloom in the sector hit hard by the coronavirus pandemic.
Bargain-conscious Americans lift used-car sales in the coronavirus economy
At the height of the coronavirus pandemic in mid-April, used-car dealer Alex Tovstanovsky had vehicles jammed six rows deep on his lot in the western Chicago suburb of Naperville.
BBC appoints Tim Davie as new boss to negotiate future finance model
Tim Davie was appointed the new head of the BBC on Friday, tasked with securing the future direction and financing of the publicly funded British broadcaster in the wake of government scepticism of the current model.
Bombardier to cut 2,500 aviation jobs as COVID-19 hurts sales
Canadian business jet maker Bombardier Inc said on Friday it would cut 2,500 jobs at its aviation unit and take a related charge of $40 million this year, as the COVID-19 pandemic hurts sales.
Futures gain as recovery optimism lingers ahead of May jobs data
U.S. stock index futures rose on Friday with S&P 500 futures hitting a three-month high, as investors focused on tentative signs of a post-coronavirus economic rebound ahead of another expected plunge in U.S. employment data.
Volkswagen AG expands executive committee of supervisory board
German car maker Volkswagen AG said on Friday that it had added two members to the executive committee of its supervisory board.
British Airways parent company considering legal challenge to UK quarantine rules
The owner of British Airways is considering launching a legal challenge against the UK’s looming quarantine plan, its chief executive said, warning that the new rules would torpedo its return to flying in July.
Allianz in talks for China insurance asset management licence
Allianz is in talks with Chinese regulators for a licence as the German insurer looks to eventually offer broad asset management services in the world’s second-largest economy.
Bank of America sees 10% further upside for European equities by third-quarter
European stocks are likely to rise another 10% by the end of September as the re-opening of economies after virus lockdowns is likely to lead to a significant pick-up in business activity, Bank of America analysts said on Friday.
Facebook to apply state media labels on Russian, Chinese outlets
Facebook Inc will start labeling Russian, Chinese and other state-controlled media organizations, and later this summer will block any ads from such outlets that target U.S. users, it said on Thursday.
