Virgin Atlantic Secures £1.2 Billion Rescue Package
Virgin Atlantic has secured a £1.2 billion rescue package over the next 18 months, only from private funds. The package is to keep the airline flying as the aviation industry [...]
Britain Telcos to Remove Huawei 5G Equipment by 2027
UK Telcom companies have up to 2027 to remove all Huawei 5G equipment in their networks following the country's ban on the company's kits. Telecom operators are banned from buying [...]Reliance Jio Confirms Google's $4.5 Billion Investment
Reliance Jio Chairman Mukesh Ambani has confirmed that Google will invest $4.5 billion into the company's digital business. In today's annual general meeting, Ambani said that the search giant would [...]Singapore Enters Recession as GDP Plunges 41.2% in Q2
Singapore's economy entered into recession last quarter as a result of the coronavirus lockdowns which shattered businesses across the world. According to Singapore's Ministry of Trade and Industry, Gross Domestic [...]Google To Invest $10 Billion in India's Economy
Search engine giant Google will invest $ 10 billion in the Google for India Digitization Fund, looking to fast track the country's adoption of digital services. The fund will come [...]Rolls Royce Receives £2bn Loan Amid Decline in Aviation Industry
Aero-engine company Rolls Royce has received a £2 billion loan from a syndicate of banks, including JP Morgan, that will boost its liquidity to 8.1 billion pounds. The loan, which [...]World Bank Appoints KenGen MD Rebecca Miano to its Advisory Board
Rebecca Miano, MD Kenya Electricity Generating Company (KenGen), has joined the World Bank Group's Advisory Council on Gender and Development, serving for two years starting from July 2, 2020. As [...]
Airbus Deliveries Rise 50% in June 2020
European planemaker, Airbus, recorded a 50% increase in plane deliveries in June compared to May 2020, the highest number since the onset of the coronavirus pandemic in March this year. [...]Air France-KLM Announces 7,500 Job Cuts
Air France-KLM plans to cut 7,500 jobs at its French subsidiary. The job cuts will eliminate 6,560 positions at its Air France flagship, while its regional carrier Hop! will lose [...]Airbus Slashes 15,000 Jobs
European planemaker, Airbus has announced plans to slash 15,000 jobs worldwide, translating to 15% of its workforce in the U.K. The job cuts include 5,000 positions in France, 5,100 in [...]Turkish Airlines Slashes Pilot Salaries by 50%
Turkey’s national carrier, Turkish Airlines, plans to slash pilot salaries by 50% as well as reduce the salaries of other employees. The move seeks to increase its finances after most [...]Tesla Beats Toyota to Become World's Most Valuable Automaker
Tesla has overtaken Toyota to clinch the first position, becoming the world's most valuable automaker. Shares of the electric car maker rose nearly 4% to hit an all time high [...]
