Boeing Co CEO Dave Calhoun told employees on Wednesday that the largest U.S. planemaker is reducing the size of its workforce by about 10per cent amid a steep fall in travel demand due to the coronavirus pandemic.
Austria will not help Lufthansa and its Austrian Airlines operation without receiving something in exchange and is looking to secure jobs within its borders, Chancellor Sebastian Kurz said shortly before a meeting with the German group's chief executive.
PARIS: France said Wednesday (Apr 29) it will tighten its review of foreign investments in order to protect domestic firms which have been weakened by the coronavirus pandemic. Finance Minister Bruno Le Maire said in a television interview that the taking of a stake of 10 percent in large...
REUTERS: As the government issues a second round of aid for small business owners, some U.S. senators, community banking groups and minority-owned banks said they are worried businesses owned by people of color may miss out on receiving much-needed loans. The Small Business Administration (SBA) ...
U.S. health insurer Anthem Inc beat quarterly estimates for revenue on Wednesday, helped by the recent launch of its pharmacy benefits unit and higher premiums.
General Electric Co reported a 7.6per cent drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
German auto supplier and technology company Robert Bosch on Wednesday said it expected automotive production to fall by at least 20per cent this year, as the coronavirus pandemic slams the brakes on factory production lines and saps demand.
AstraZeneca on Wednesday beat analysts' estimates for first-quarter profit and reiterated its outlook for 2020, as demand for the company's newer medicines remained steady.
Volvo Car Group, owned by China's Geely Holding, said on Wednesday it was giving notice of redundancy to 1,300 white-collar workers in Sweden as the impact from the pandemic increased the urgency of lowering structural costs.
VIENNA: Shares in AMS jumped 20 per cent on Wednesday after the sensor specialist said it expects the impact from the novel coronavirus to be limited in the current quarter and posted first-quarter revenues within the upper half of its forecast. AMS, which is in the process of taking...
