Air freight rates skyrocket amid passenger flight cuts, Chinese factory restarts
Air freight rates are skyrocketing after the grounding of many passenger flights in Asia has left shippers scrambling to book limited spots on cargo planes...
Oil rises for second day amid hopes for output cut by U.S. producers
Oil prices climbed for a second day on Wednesday, lifted by hopes that U.S. producers will cut output, but gains were limited compared with Monday’s...
Stock rebound stalls as doubts about U.S. virus response grow
Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out...
Wells Fargo CEO tells Congress bank has doubled down on regulatory issues
New Wells Fargo & Co Chief Executive Charlie Scharf testified on Tuesday that substantial change was underway at the bank as lawmakers grilled him on...
U.S. senator calls for action on forced labor in China’s Xinjiang
A senior U.S. senator on Tuesday accused U.S. firms of willfully ignoring “horrific” forced labor conditions in China’s Xinjiang region and called on the Commerce...
U.S. airlines see distant recovery as coronoavirus hits travel
Leading U.S. airlines on Tuesday ditched 2020 forecasts and unveiled more sweeping capacity cuts and cost-saving measures in response to the spreading coronavirus, while United...
Bank of America top technology officer Boville has left: source
Bank of America Corp’s chief technology officer, Howard Boville, has left the company, according to a source familiar with the matter....
Wall Street bounces back as stimulus hopes soothe recession fears
Wall Street roared back to life on Tuesday, rebounding from the brink of bear market confirmation as bargain-hunting and hopes of government stimulus calmed investors’...
Airline SAS asks employees to take a 20% pay cut
Airline SAS has invited unions to discuss a 20% work and pay cut for all employees as it fights to mitigate the effects of a...
Airlines try to stave off calamity as coronavirus locks down Italy
Airlines around the world sank deeper into crisis on Tuesday as the worsening coronavirus epidemic and Italy’s lockdown hammered passenger numbers, forced the cancellation of...