French Carmaker Renault To Cut 5,000 Jobs By 2024
French carmaker Renault (RENA.PA) is about to announce plans to cut 5,000 jobs by 2024 in its drive to save…
Category: Business
Apple To Reopen About 100 More Stores In The U.S. This Week
Apple plans to open approximately 100 stores in the United States this week, a company representative told CNBC. In total,…
McLaren To Lay Off 25% Of Its Workforce As Coronavirus Halts Demand
The McLaren Group, which owns the Formula 1 team and supercar maker, has announced plans to lay off 1,200 staff,…
Macy’s Announces $1 Billion Bond Offering To Repay Credit Facility
Macy’s Inc (M.N) said on Tuesday it planned to raise $1.1 billion in a bond offering, backed by a first…
China Becomes Large Shareholder In Norwegian Air Shuttle
Aircraft leasing company BOC Aviation, controlled by the Chinese state, has become a major shareholder in Norwegian Air Shuttle as…
Nissan, Renault Set To Announce Massive Cuts
The alliance of Renault SA and Nissan Motor Co. is set to disclose billions of dollars in cost cuts this…
Europe Could Target Silicon Valley With Taxes To Help It Rebound From The Coronavirus-Fueled Recession
Tech giants could be forced to pay higher taxes in Europe as governments search for new revenue to deal with the…
Gucci Bids Farewell To Fashion Week As Brand Goes Seasonless
Fashion week is over, according to Gucci. In a virtual press conference broadcast from his Rome studio, the label’s creative…
Lufthansa And German Government Agree $9.8 Billion Rescue Package
The German government and Lufthansa, which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on…
Virgin Orbit’s First Test Launch Postponed
Richard Branson’s Virgin Orbit postponed its first space launch Sunday due to a technical problem. The company said one sensor…
Facebook Employees May Face Pay Cut If They Move To Cheaper Areas To Work From Home
Mark Zuckerberg says he expects about half of Facebook Inc.’s employees to work from home five to 10 years from…
Coronavirus: Jaguar Seeks State Loan As Pandemic Takes Toll
Jaguar Land Rover (TAMO.NS) is in talks with the British government about a request for temporary state funding of more…
Alibaba Sees China Retail Volume Growing Near Pre-Pandemic Levels But Stock Falls Amid U.S.-China Tensions
Alibaba Group Holding Ltd. said that volume on its China retail marketplaces was back to growing at near pre-pandemic rates,…
UK To Require Employers To Pay 20-30% Of Furloughed Wage Cost
The United Kingdom has drawn up plans to require employers to cover 20% to 30% of furloughed employees’ wages from…
Hertz Stock Plunges 30% After Report Saying Bankruptcy Filing Is Imminent
Shares of Hertz Global Holdings Inc. HTZ, -7.49% fell more than 30% in the extended session Friday after The Wall…
Rental Car Giant Hertz Files For U.S. Bankruptcy Protection
The more than a century old car rental firm Hertz Global Holdings Inc (HTZ.N) filed for bankruptcy protection on Friday…
E.l.f. Beauty Shares Rise After Company Reported Triple-Digit Online Sales Growth
Shares of E.l.f. Beauty surged more than 5% in extended trading Thursday after the cosmetics company said sales rose 13%…
Alibaba’s Sales Surge As People Shop Online During Lockdown
As people stayed indoors and brick-and-mortar stores remained shut during the health crisis, online orders surged, with the company’s core…
Zuckerberg Defends Facebook’s Actions On Coronavirus Misinformation
Facebook founder Mark Zuckerberg has told the BBC that it had and would remove any content likely to result in…
Amazon Trials Online Food Delivery In India
Internet giant Amazon is entering the meal delivery business with a trial in four parts of India’s Bengaluru. The move…
Coronavirus: EasyJet Passengers Will Be Required To Wear Masks
EasyJet has said it will resume some flights on 15 June, with all passengers and cabin crew told to wear…
Netflix Will Start Automatically Canceling Inactive Accounts
Netflix has started to terminate accounts that people haven’t used the service for a year or more. The company announced that…
Music Industry To Nearly Double In Value By The End Of The Decade, Goldman Sachs Says
Goldman Sachs expects global music revenues to tumble by up to 25% in 2020, largely due to widespread disruption across all…
How Nigerian Fintech Firm Flutterwave Adapted To Help Small African Businesses During Lockdown
US-Nigerian fintech company Flutterwave has created an e-commerce platform for African companies, becoming the latest start-up to see opportunities in…
Coronavirus: 70% Of Dubai Companies Expects To Go Out Of Business Within Six Months, Survey Finds
DUBAI, United Arab Emirates — A staggering 70% of businesses in Dubai expect to close their doors within the next six…
Macy’s Said It Could Lose Up To $1bn Due To Lockdowns
Macy’s Inc (M.N) said on Thursday it could rack up operating losses of up to $1.11 billion in the first…
Lufthansa Closes In On $10 Billion State Rescue Deal
Lufthansa said on Thursday a deal would involve the government taking two seats on its supervisory board, but it would…
Coca-Cola CEO Says Economic Impact Of Coronavirus Lockdowns Is ‘Just Starting To Begin’
Coca-Cola CEO James Quincey delivered a grim forecast for the global economy’s recovery from the impact of the coronavirus pandemic on Wednesday. “The…
Richard Branson’s Virgin Orbit To Attempt Its First Rocket Launch This Weekend
Sir Richard Branson’s Virgin Orbit is set to conduct its first orbital rocket launch as early as Saturday, in the…
Facebook Shares Hit Record High After Launch Of Online Shopping Feature
Shares of Facebook reached an all-time high of $230.75 on Wednesday, soaring as much as 6.4%, with Wall Street being bullish on…