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Exclusive: Qatar Airways says it will need state support as cash runs out

Reuters Business News - Sun, 03/29/2020 - 05:59
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

Reuters Business News - Sat, 03/28/2020 - 20:27
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

Reuters Business News - Sat, 03/28/2020 - 20:21
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

Reuters Business News - Sat, 03/28/2020 - 20:06
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

Reuters Business News - Sat, 03/28/2020 - 19:56
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

Reuters Business News - Sat, 03/28/2020 - 19:36
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

Reuters Business News - Sat, 03/28/2020 - 17:46
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

Reuters Business News - Sat, 03/28/2020 - 10:32
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

Reuters Business News - Sat, 03/28/2020 - 07:44
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

Reuters Business News - Fri, 03/27/2020 - 23:12
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

Reuters Business News - Fri, 03/27/2020 - 20:30
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

Reuters Business News - Fri, 03/27/2020 - 20:30
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

Reuters Business News - Fri, 03/27/2020 - 20:30
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

Reuters Business News - Fri, 03/27/2020 - 20:22
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

Reuters Business News - Fri, 03/27/2020 - 19:37
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

Reuters Business News - Fri, 03/27/2020 - 19:18
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

Reuters Business News - Fri, 03/27/2020 - 18:48
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

Reuters Business News - Fri, 03/27/2020 - 18:44
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

Reuters Business News - Fri, 03/27/2020 - 18:08
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

Reuters Business News - Fri, 03/27/2020 - 17:52
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
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