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Exclusive: Qatar Airways says it will need state support as cash runs out
Qatar Airways will have to seek government support eventually, Chief Executive Akbar al-Baker told Reuters on Sunday, warning that the Middle East carrier could soon run out of the cash needed to continue flying.
Categories: Reuters
Mexico's President says will comply with public vote to halt brewery project
Mexico's President Andres Manuel Lopez Obrador on Saturday said his government will comply with a public consultation to halt the construction of U.S. brewer Constellation Brands Inc's more than $1 billion brewery project in the border city of Mexicali.
Categories: Reuters
Clothing rental service Rent the Runway lays off workers amid coronavirus outbreak
U.S. clothing rental firm Rent the Runway said on Saturday it had laid off retail employees following temporary store closures amid the ongoing coronavirus outbreak.
Categories: Reuters
Pence says virus taskforce soon to deliver recommendation on whether to re-open economy
Vice President Mike Pence, heading the Trump administration's response to the coronavirus outbreak, said on Saturday that he would deliver a recommendation to the president on whether to re-open the U.S. economy in the coming week.
Categories: Reuters
Airbnb hosts to provide free rooms for British health workers
Airbnb hosts will provide free rooms for workers in Britain's National Health Service (NHS) to support their work during the coronavirus outbreak, the company said on Sunday.
Categories: Reuters
UK broadband providers lift data caps during coronavirus crisis
Britain's big telecoms providers have agreed to remove all data caps on fixed-line broadband services that have become a lifeline for people isolated at home during the coronavirus crisis, the government said on Sunday.
Categories: Reuters
Ackman says Pershing Square no longer has hedges on stocks
William Ackman's Pershing Square Capital Management no longer has hedges on its stock portfolio, but still has some cash to invest if equities decline further as the United States battles the coronavirus outbreak, the billionaire investor said on Saturday.
Categories: Reuters
Exclusive: Amazon entices warehouse employees to grocery unit with higher pay
Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.
Categories: Reuters
As virus threatens, U.S. embraces big government, for now
It may, as House Majority Leader and Maryland Democrat Steny Hoyer said on Friday, be out of love that the United States agreed to shut down much of its economy to stop a viral epidemic and save lives.
Categories: Reuters
Condom shortage looms after coronavirus lockdown shuts world's top producer
A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production.
Categories: Reuters
Trump tells GM: Stop 'wasting time', build ventilators to address coronavirus
U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations.
Categories: Reuters
Factbox: Carmakers churn out machines, masks to help fight coronavirus
Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines - everything from cloth face masks to sophisticated ventilator systems - to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia.
Categories: Reuters
GM reaches settlement over lost vehicle value from defective ignition switches
General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
Categories: Reuters
Apple's factories are running, but suppliers wary about iPhone demand
As China reopens its economy after months of lockdown, Apple Inc's iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.
Categories: Reuters
Wall Street Week Ahead: Fund rebalancing could help buoy stock rebound
Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop.
Categories: Reuters
U.S. regulators give banks relief on accounting standard, derivatives rule
U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive way to measure risk in a bid to ensure banks continue lending through the pandemic.
Categories: Reuters
Airbnb suspends marketing to save $800 million, top executives take pay cut: source
Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take no salary for the next six months while top executives will take a 50% cut, according to a person familiar with the matter.
Categories: Reuters
GM reaches $120 million settlement over lost vehicle value from defective ignition switches
General Motors Co has reached a $120 million settlement with drivers who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
Categories: Reuters
Treasury: U.S. will be 'compensated' for assistance to airlines
U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will "compensated" for providing up to $25 billion in direct grants to the airline industry.
Categories: Reuters
Wall Street tumbles as U.S. virus cases pass 100,000
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
Categories: Reuters