Planemaker Airbus announced new steps on Monday to bolster its financial position as a coronavirus pandemic cripples the travel industry, including the signing of a credit facility for 15 billion euros ($16.1 billion).
A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan, not a cash payout, the proposal showed.
China Hongqiao Group, the world's biggest aluminium producer, said on Friday lower costs boosted net profit by 12.7% in 2019 despite a sharp drop in output, as it announced its intention to boost production from scrap metal.
Airlines cancelled more flights on Monday as Australia and New Zealand advised against non-essential domestic travel, the United Arab Emirates (UAE) halted flights for two weeks and Singapore and Taiwan banned foreign transit passengers.
Despite the threat of coronavirus and an opposition boycott, a constitutional referendum was held in Guinea on Sunday that opponents of President Alpha Conde fear could allow him to govern for 12 more years.
Airbus confirmed on Sunday it would resume only partial aircraft production when its French and Spanish factories reopen on Monday after a four-day shutdown to tackle health concerns over the coronavirus.
Virgin Australia Holdings Ltd said on Monday it expected to make a material reduction in its domestic capacity after the Australian government advised against non-essential domestic travel and some states tightened travel restrictions because of the coronavirus.
The U.S. Federal Aviation Administration (FAA) said Sunday it has tentatively decided to extend temporarily waivers of minimum flight requirements at U.S. airports through Oct. 24 to help airlines facing a steep decline in travel demand due to the coronavirus.
British entrepreneur Richard Branson said on Sunday companies in his Virgin empire will be investing $250 million in coming weeks and months to save jobs from the impact of the coronavirus outbreak.
Associated British Foods Plc intends to close its 189 Primark stores in the United Kingdom from Sunday night after cancelling all new orders from suppliers as demand shrinks due to the coronavirus outbreak, the Financial Times reported.
Banks in the United Arab Emirates announced a raft of measures on Saturday they said would benefit the biggest contributors to the economy as the country announced its first deaths linked to the coronavirus pandemic.
A last-ditch effort by the chief executives of major U.S. airlines to try to win cash grants to weather the coronavirus crisis looked to be unsuccessful, four congressional aides and airline officials said late Saturday.
Uber Technologies has suspended the option to book regular taxi services through its app in Saudi Arabia until further notice, a company statement said on Friday.
Boeing Co will cancel CEO pay, suspend its dividend and extend a pause on share buybacks, the U.S. planemaker said on Friday, as companies eager for government aid to curb fallout from the coronavirus face pressure to cut payouts to investors.
Troubled fashion retailer Ted Baker Plc said on Friday it has shut businesses that accounted for about 38% of its global retail sales in 2020 due to the coronavirus outbreak.
Delta Air Lines Inc expects its second-quarter revenue to fall by $10 billion, representing an 80% reduction compared with a year earlier, the company said on Friday, as the coronavirus hurts travel demand.
In trading on Friday, shares of Vulcan Materials Co (Symbol: VMC) entered into oversold territory, changing hands as low as $83.53 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momen
Delta Air Lines Inc expects its second-quarter revenue to fall by $10 billion, representing an 80% reduction compared with a year earlier, the company said in a regulatory filing, as the coronavirus hurts travel demand.
China has promised it will not impose a nationwide ban on imports of U.S. poultry if the United States finds cases of avian flu, an industry group said, a policy change that could help Beijing fulfill commitments to buy more American farm goods.
Reuters
Checked
11 minutes 13 seconds ago
This feed is responsible for generating the rss feed related to the topic Commodities