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Canada’s Prime Minister Justin Trudeau announced on Saturday that he was committed to looking at possible ways to help airlines that were severely affected by the pandemic. Yet the Canadian prime minister laid out no new measures and remained mum on details.
“This pandemic has hit extremely hard on travel industries and on the airlines particularly. That’s why we’re going to keep working with airlines, including Air Canada, to see how we can help even more,” the prime minister stated in a briefing in Ottawa.
Trudeau’s announcement came one day after Canada's largest airline revealed that it was preparing to slash its workforce by at least half.
Air Canada stated on Friday that it plans to reduce its staff by up to 60% on June 7, leaving 22,800 people jobless. The company is attempting at saving money and adapting to a lower level of traffic amid the coronavirus outbreak.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
The dollar fell again on Tuesday as the U.S. economy drops into stagnation, while investors await the latest outlook from the Federal Reserve and the passage of the U.S. coronavirus fiscal stimulus. The dollar’s decline lifted gold prices ...
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