Air traffic in Latin America falls 91% due to the coronavirus outbreak
Air traffic in Latin America in April has fallen 91% compared to a year earlier due to the coronavirus outbreak that fully grounded two of...
Canada’s WestJet to lay off 1,700 pilots
Canada’s privately held WestJet Airlines is laying off 1,700 pilots amid travel bans to curb the COVID-19 pandemic, according to a company memo seen by...
Exclusive: Italy sees 2020 budget deficit near 10% of GDP – source
Italy’s budget deficit will be near 10% of gross domestic product this year, a senior government official told Reuters, as Rome increases borrowing to try...
Global stocks seesaw, yields fall on dire economic outlook
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus pandemic and tamped...
Hand-holding in the pandemic: Wealth managers grapple with new reality
During the early days of March, Jill Fopiano was having trouble sleeping, waking up at 3 o’clock in the morning, maybe 4 o’clock. She’d been...
Sales drop at Vuitton owner LVMH as virus forces store closures
Louis Vuitton owner LVMH on Thursday posted a 17% drop in comparable sales in the first quarter due to the coronavirus pandemic, as government-imposed lockdowns...
Fed’s Bostic: Small business may need up to $500 bln monthly in support through crisis
U.S. small businesses may need as much as $500 billion a month to fully ensure their survival through the widespread closures and disruptions slamming their...
U.S. loan program hits $350 billion cap leaving thousands of small businesses adrift
A $350 billion emergency U.S. loan program to help small businesses keep workers on their payrolls amid the novel coronavirus disruption has run out of...
L’Oreal banks on cosmetics bounceback, citing Chinese pick-up
Maybelline make-up manufacturer L’Oreal said on Thursday it was counting on a quick recovery in cosmetics demand once global lockdowns to combat the coronavirus pandemic...
Facebook’s Libra cryptocurrency gets revamp in response to backlash
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory...