Category: Business

Issued on: 01/05/2020 – 12:08Modified: 01/05/2020 – 12:08 Irish low-cost carrier Ryanair said on Friday it planned to axe 3,000 pilot and cabin crew jobs, or 15 percent of staff, with air transport paralysed by coronavirus. Dublin-based Ryanair added in a statement that most of its flights would remain grounded until at least July and […]

Issued on: 25/04/2020 – 08:30Modified: 25/04/2020 – 08:30 G20 nations pledged Friday to cushion the economic blow of the coronavirus pandemic on global tourism, one of the hardest-hit industries in which millions risk losing their jobs. COVID-19 lockdowns have pounded international tourism, which is estimated to see a 45 percent decline this year according to […]

Issued on: 23/04/2020 – 14:21Modified: 23/04/2020 – 14:21 The Covid-19 pandemic has taken a heavy toll on dozens of industries with fears of a global economic recession to rival the Great Depression. But for a few companies, business is booming as the pandemic triggers a surge in demand for their products. In supermarkets, shelves have […]

Issued on: 22/04/2020 – 22:46Modified: 22/04/2020 – 22:46 European Central Bank governors agreed Wednesday that banks could put up so-called “junk” bonds as collateral when borrowing from the Frankfurt institution, in case eurozone governments and firms see their credit ratings downgraded as they grapple with the coronavirus pandemic. “Marketable assets and issuers of these assets… […]

Issued on: 21/04/2020 – 08:26Modified: 21/04/2020 – 08:26 Cash-strapped Virgin Australia collapsed Tuesday, making it the largest carrier yet to buckle under the strain of the coronavirus pandemic, which has ravaged the global airline industry. In an announcement to the Australian Stock Exchange, Virgin said it planned to keep operating flights despite handing the keys […]

Issued on: 20/04/2020 – 21:09Modified: 20/04/2020 – 21:09 Oil prices plunged below zero on Monday for the first time in history, with the US benchmark West Texas Intermediate (WTI) closing at -$37.63 a barrel. The unprecedented price plunge comes as demand for energy collapses amid coronavirus-induced lockdowns and traders don’t want to get stuck owning […]

Issued on: 20/04/2020 – 15:55Modified: 20/04/2020 – 15:55 US oil prices dived to 22-year lows at just $11 per barrel Monday after crashing almost 40 percent in a market flooded with crude and slammed by evaporating demand in the face of the coronavirus pandemic. Just before 1200 GMT, the US benchmark West Texas Intermediate (WTI) […]

Issued on: 15/04/2020 – 10:44Modified: 15/04/2020 – 10:44 The French government has hiked up the expected cost of its measures to support the economy through the coronavirus crisis to 110 billion euros, its finance minister said on Wednesday, with the country’s GDP set to suffer its biggest drop in decades. “We are going to go from 45 billion […]

Issued on: 14/04/2020 – 10:23Modified: 14/04/2020 – 10:34 The French government’s budget deficit is set to hit a postwar record of nine percent of economic output this year due to the prolonged coronavirus lockdown, the budget minister said on Monday in the second revision in less than a week. “Our country has never seen such a […]

Issued on: 10/04/2020 – 05:43Modified: 10/04/2020 – 05:43 OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis. But the group, known […]

Issued on: 09/04/2020 – 22:57Modified: 09/04/2020 – 22:57 EU finance ministers agreed a 500-billion-euro ($550-billion) rescue Thursday for European countries hit hard by the coronavirus epidemic, but sidelined a demand by Italy and France for pooled borrowing. The breakthrough came after the Netherlands softened its position on the crucial question of making countries in need […]

Issued on: 09/04/2020 – 18:31Modified: 09/04/2020 – 18:31 The French government expects GDP to drop six percent this year because of lost business during the coronavirus lockdown, Finance Minister Bruno Le Maire said Thursday while announcing a relief plan would be more than doubled to 100 billion euros ($109 billion). The spending will sharply increase […]

Issued on: 09/04/2020 – 17:39Modified: 09/04/2020 – 17:39 The number of Americans seeking unemployment benefits in the last three weeks has blown past 16 million, with weekly new claims topping 6 million for the second straight time last week amid tough measures to control the novel coronavirus outbreak that have abruptly ground the country to a […]

Issued on: 02/04/2020 – 18:43Modified: 02/04/2020 – 18:42 From Europe, to Asia and North America, the skies have been unusually empty of commercial aircraft in recent weeks as countries close borders and enforce travel restrictions amid the coronavirus pandemic, forcing airlines worldwide to ground most of their fleets. In the final week of March, commercial flights […]

Issued on: 01/04/2020 – 11:01Modified: 01/04/2020 – 11:01 American auto manufacturers General Motors and Ford, French car companies PSA and Renault, and Formula 1 engineers have joined the ranks in response to a massive global shortage of the vital piece of medical equipment.  As hospitals around the world face a surge of patients with breathing […]

Issued on: 26/03/2020 – 16:32Modified: 26/03/2020 – 16:31 G20 leaders on Thursday said they were committed to presenting a united front against the coronavirus pandemic, calling it their “absolute priority” to tackle its health, social and economic impacts. During an video conference to discuss the impact of the coronavirus crisis, leaders of the world’s major economies […]