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Company news

14.05.2020 12:00:58

TUI Group to cut 8,000 jobs amid virus outbreak

The European travel company TUI (TUIGn.DE) announced on Wednesday that it would continue its global operations in July and slash its workforce by roughly 8,000 jobs to reduce 30% of its costs amid the virus outbreak. In an effort to halt the ...

14.05.2020 10:01:02

UK retail sales drop in April on quarantine restrictions: BRC

United Kingdom’s retail sales sunk by nearly a fifth in April as the government’s effort of combating the coronavirus brought disruptions to the sector. More so, Britain’s consumer spending declined by more than a third, ...

14.05.2020 10:01:02

Korean Air plans to sell new shares worth $817 Million to stay afloat

Korean Air Co. Ltd. (003490.KS), South Korea’s largest airline and flag carrier, plans to sell new shares worth 1 trillion Won ($817 Million) in its biggest rights issue in 20 years. The company came up with self-rescue measures on Wednesday ...

14.05.2020 10:01:01

Gold rises post gloomy Powell speech

Thursday morning saw the value of Gold gone up after U.S. Federal Reserve Chair Jerome Powell's speech had inspired gloom among investors, compelling them to turn to the precious metal. Gold futures rose by 0.28% at $1,721.25 by 12:08 PM ET ...

14.05.2020 09:01:20

Australia’s unemployment rate to soar amid pandemic

Australia’s unemployment rate is expected to hit its largest monthly increase. The anticipated surge in joblessness was mainly from the disruptions brought by the COVID-19 pandemic, even as the country started lifting quarantine restrictions ...

14.05.2020 09:01:20

Oil rises on U.S. crude stocks fall, outlook still bleak

Oil prices rose on Thursday after a sudden fall in U.S. crude stocks. However, further gains were capped amid a gloomy U.S. economic outlook and fears of a second coronavirus wave. Brent crude futures climbed 0.2%, or 6 cents, at $29.25 per ...

14.05.2020 09:01:19

Dollar nears three-week peak after Fed’s Powell shuns negative rates

The dollar rose to a near three-week peak on Thursday after Fed Chairman Jerome Powell dismissed the prospect of adopting negative interest rates. Powell’s comments diminished risk appetite as investors rushed to the safe-haven dollar. ...

14.05.2020 09:01:19

Stocks in troubling waters as economic recovery from pandemic remains bleak

On Thursday, stocks had been recorded to have fallen whilst bonds remained to be in demand. These had happened due to apprehensions of the Coronavirus infecting anew coupled with a gloomy evaluation from the U.S. Federal Reserve head that ...

13.05.2020 15:01:14

Gold loses gains amid mounting fears over second COVID-19 cases

Gold prices fell on early Tuesday in Asia, losing gains from the previous session amid mounting fears of a second COVID-19 wave. Gold futures lost 0.7% to $1,705.65 per ounce at 12:05 AM ET (5:05 AM: GMT). China and South Korea have been moving ...

13.05.2020 14:01:11

Boeing records zero airliner orders in April

The American aerospace company Boeing Co. (BA.N) said on Tuesday that it failed to sell a single commercial airplane this year with clients cancelling another 108 orders for its grounded 737 MAX planes. It marked the second month this year ...

13.05.2020 14:01:11

Hyatt Hotels to cut 1,300 employees as pandemic hits the travel industry

Hyatt Hotels Corp. (H.N) announced on Monday that it would terminate 1,300 employees worldwide beginning on June 1. The move comes after a sharp fall in global travel struck the hospitality industry as people stay home to prevent the spread ...

13.05.2020 13:01:34

Oil falls on fears of second coronavirus wave, rise in U.S. inventories

Oil prices plunged on Wednesday due to fears of a possible second coronavirus wave and a continuous rise in U.S. crude inventories.  Market worries dwarfed Saudi Arabia’s call for further output cuts to buoy prices amid demand slump. Brent ...

13.05.2020 13:01:34

Stocks fall on fears of second coronavirus wave

Global stocks and oil prices dropped on Wednesday as markets feared a possible second wave of coronavirus infections. MSCI’s index of global shares fell 0.3%, while the pan-European STOXX 600 index slid 1.6%. Deutsche Bank shares plunged ...

13.05.2020 09:01:34

Dollar rises in anticipation for Powell’s speech

The Dollar rose earlier on Wednesday in Asia on the back of U.S. Fed Chairman Jerome Powell’s speech that would be delivered later in the day. The U.S. Dollar Index dipped by 0.04% to 99.998 at 11:40 AM ET (4:40 AM GMT). Powell might ...

13.05.2020 07:01:14

UK Finance Ministry fears budget deficit to hit 337B pounds: Telegraph

The Finance Ministry of the United Kingdom worries that the government’s budget deficit this year could reach a record 337 billion pounds as the coronavirus pandemic continues to wreak havoc to the British economy. This development is ...

13.05.2020 07:01:14

Bloomberg: Nissan restructuring plan includes $2.8 billion-cut

Nissan Motor Co. is gearing itself into cutting $2.8 billion of its annual fixed costs as part of a restructuring effort. News titan Bloomberg had reported the matter on Wednesday as the company prepares for a sales drop that further compromises ...

12.05.2020 13:01:19

Starbucks to reopen 150 branches across the UK to serve drive-thru coffees

The largest coffee house chain in the world, Starbucks Corp. (SBUX.O), announced on Monday that it would begin the “phased reopening” of 150 branches in the United Kingdom. With the easing of restrictions allowing more travel on ...

12.05.2020 12:01:17

Richard Branson to sell $25 Million worth of Virgin Galactic shares amid virus outbreak

Virgin Group’s founder Richard Branson stated on Monday that it would sell $25 Million worth of Virgin Galactic shares to raise funds for the space tourism company as the pandemic threatens to cripple his business empire. “Virgin ...

12.05.2020 12:01:17

Gold prices rise amid mounting fears of second COVID-19 wave

Gold prices rose on Tuesday morning in Asia, continuing two consecutive losses from the previous sessions amid piling concerns of a second wave of COVID-19 cases. Gold futures gained 0.42% at $1,705.05 per ounce at 12:05 AM ET (5:05 AM GMT) ...

12.05.2020 12:01:17

Japan to approve its first coronavirus antigen test kits on Wednesday

Japan is planning to approve its first COVID-19 antigen testing kits on Wednesday, according to an official from the Health Ministry. The decision comes in a bid to increase the number of diagnostic tests available to combat the pandemic. Fujirebio ...

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