White House drafting financial package for U.S. airlines battered by coronavirus: sources
The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep...
Boeing stock wipes out gains made during ousted CEO Muilenburg’s tenure
Boeing Co’s shares plunged another 20% on Monday, erasing all gains recorded during ousted CEO Dennis Muilenburg’s tenure, as the mounting economic fallout of the...
Near-zero U.S. rates may not sink the dollar
When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning...
Brought to the brink by coronavirus, airlines seek emergency aid
Airlines made unprecedented cuts to flights, costs and staffing on Monday, stepping up calls for emergency aid as coronavirus lockdowns and new travel restrictions hit...
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...
Wall Street dives, S&P 500 sheds $2 trillion in value
S&P 500 companies lost more than $2 trillion in value in the first few minutes of trading on Monday as investors panicked about the mounting...
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...