Lyft to cut 982 jobs due to coronavirus outbreak
Lyft Inc plans to lay off 982 employees, or 17% of the ride-hailing firm’s workforce, due to economic challenges caused by the coronavirus pandemic, the...
AstraZeneca sticks to 2020 outlook, boosted by drug stockpiling
AstraZeneca topped analysts’ estimates for quarterly profit and reiterated its targets for the year on Wednesday, as the British drugmaker benefited from higher demand for...
Boeing to shrink workforce and production as coronavirus slams industry
Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as...
BP donates jet fuel in U.S. to help with COVID-19 relief
BP is donating 3 million gallons of jet fuel to FedEx and Alaska Airlines [ALKAIR.UL] to help with the distribution of personal protective equipment in...
EU clears French 5 billion euro loan guarantee to Renault
The European Commission approved on Wednesday a 5 billion euro ($5.4 billion) loan guarantee to carmaker Renault group to mitigate the impact of the coronavirus...
KFC parent Yum says April sales improving after virus hits Q1
Yum Brands Inc said on Wednesday sales in April showed signs of improvement as stay-at-home consumers ordered in more and diners returned to restaurants after...
Lufthansa to get financial support from Switzerland and Austria
Switzerland and Austria pledged to help Lufthansa with state-backed loans as the German airline pursues talks with Berlin over a 9 billion euro ($9.8 billion)...
Coronavirus savages U.S. economy in first quarter; worse still to come
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the...
KFC operator Yum’s same-store sales, profit falls as lockdowns bite
Yum Brands Inc reported a 7% fall in quarterly comparable store sales on Wednesday, as many restaurants across its brands were closed or limited to...
China committed to Phase 1 trade deal despite pandemic: U.S. official
China remains “very, very committed” to meeting its commitments under a Phase 1 trade deal with the United States, despite the unprecedented economic and health...