Australia's Qantas is cutting 6,000 staff and grounding 100 planes for at least a year in a US$10 billion cost-cutting blitz in response to the COVID crisis, the airline announced Thursday.
The dollar held firm on Thursday as an increase in coronavirus cases in the United States undermined hopes for a quick turnaround in the pandemic-hit economy and prompted traders to cuts bets on riskier currencies.
Caesars Entertainment Corp said on Wednesday it would require all guests at its casinos and other properties across the United States to wear face masks to help counter the spread of the new coronavirus.
MILAN: Italy's government said on Wednesday (Jun 24) it would guarantee a 6.3-billion-euro (US$7.1 billion) loan to Fiat Chrysler, as the automaker struggles with the impact of the coronavirus pandemic. The loan, which reportedly includes conditions not to relocate or cut jobs as the firm merges ...
The economics profession widely overlooked the importance of social and institutional pre-conditions, says former World Bank chief economist Kaushik Basu.
THE US dollar is expected to weaken moderately as economies exit from lockdowns and more money flows into riskier assets. This will be bad news for Singapore-listed companies with significant exposure to the United States, but should be broadly positive for the local equity market.
TEMASEK-backed Ascent Myanmar Growth Fund I (AMGF) on Wednesday announced that it will lead a US$26 million minority investment in Myanmar's leading Internet service provider, Frontiir, although it declined to name its other investors.
FRANKFURT AM MAIN: Lufthansa's top shareholder on Wednesday (Jun 24) said he would back a nine billion euro government rescue package, removing the threat of a last-minute veto that could have plunged the German airline into bankruptcy. "I will vote for the agreement," German billionaire Heinz ...
NEW YORK: Wall Street stocks tumbled on Wednesday (Jun 24) on increasing signs that higher coronavirus cases in the United States will slow the recovery in the world's biggest economy. The Dow Jones Industrial Average slumped 710.16 points, or 2.72 per cent, to 25,445.94. The broad-based S&P 500 ...
California is planning to ask a state court judge to force Uber Technologies Inc and Lyft Inc to classify their ride-hail drivers as employees, rather than contractors, ratcheting up the tension over a new gig worker law.
