Airlines count mounting costs of the coronavirus shock
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak. Several have scrapped flights and ditched financial forecasts....
Big UK airlines ground most of their fleets to survive coronavirus
Britain’s big airlines said on Monday they would have to ground most of their fleets to survive the coronavirus crisis, with easyJet and Virgin –...
Norwegian Air to cancel 85% of flights and lay off 90% of staff
Norwegian Air will cancel 85% of its flights and temporarily lay off 7,300 employees as a result of the growing coronavirus crisis that has strangled...
Cowen expects Nike’s sales fall $3.5 billion for May quarter
Nike Inc’s revenue could fall by a third in the fourth quarter, Cowen estimated, as the sportswear giant reels from store closures, supply disruptions and...
More U.S. producers cut budgets as crude falls below $30 a barrel
EOG Resources Inc , Whiting Petroleum Corp and EQT Corp cut drilling activity and budgets on Monday, becoming the latest North American shale producers to...
Crude oil falls below $30 as coronavirus spreads
Brent and U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame...
Exclusive: India plans to top up strategic tanks with cheap Saudi, UAE oil – sources
India plans to take advantage of low prices for oil from Saudi Arabia and the United Arab Emirates to top up its strategic petroleum reserves...
Carmakers curb European production as coronavirus hits
Carmakers including Fiat Chrysler , Peugeot , Volkswagen and its premium unit Audi throttled back production at their European plants on Monday as they grapple...
Exclusive: UK supermarkets may cut services to stay open as coronavirus spreads – sources
Britain’s major supermarkets are working on plans to streamline their operations by cutting cafes, counters and other services to enable a depleted workforce to maintain...
Lockheed Martin’s Marillyn Hewson to step down as CEO
Lockheed Martin Corp said on Monday company veteran Marillyn Hewson will step down as chief executive officer, and tapped board member and American Tower Corp...