Ride-Hailing Apps Shift Focus to Delivery Services
A drop in demand for taxi services has seen cab-hailing apps fire their employees to cut expenses. South-East Asia's leading cab-hailing service Grab Holdings has announced it will fire 360 [...]
NYSE Partially Reopens Trading Floor to Market Makers
The New York Stock Exchange (NYSE) is set to partially reopen its trading floor to some market makers, with effect from Wednesday, 17th June 2020. This comes after almost three [...]Embraer Secures $600 Million Loan from Brazil
The world’s third-largest commercial jet builder, Embraer, has secured a $600 million loan, partly backed by Brazil’s government. This comes even as the aviation industry continues to be one of [...]WhatsApp Payments Go Live in Brazil
WhatsApp today launched its payment platform in Brazil. Users in Brazil will be able to use the service by linking their WhatsApp account to a credit or debit card and [...]Just Eat Beats Uber to Acquire Grubhub for $7.3 Billion
British food delivery platform, Just Eat Takeaway, has acquired America's Grubhubfor $7.3 billion, creating the world's largest food delivery service outside China. The acquisition now edges out Uber Technologies, which [...]Lockdown Shrinks UK Economy by a Record 20% in April
The UK Economy shrunk by 20.4% in April as businesses closed due to the lockdown. This historic contraction will increase pressure on the government to launch stimulus programs to support [...]Lufthansa Announces 22,000 Job Cuts
Germany’s largest airline, Lufthansa, has announced plans to cut 22,000 jobs as COVID-19 pandemic continues to take a toll on the aviation industry. The airline says that almost half of [...]Multichoice Signs Streaming Deal With Netflix and Amazon
Multichoice has signed a deal with Netflix and Amazon to allow its users to access their services through DSTV decoders. The deal will not only help Multichoice retain its subscriptions [...]Starbucks to Close 400 Stores in North America
Starbucks has announced plans to permanently close 400 stores across the United States as the global coronavirus pandemic continues to cut into earnings. The closures will take place over the [...]Europe to Reopen External Borders from 1st July
Europe has announced plans to reopen its borders, albeit gradually and partially, with effect from 1st July 2020. This will happen after the current ban on non-essential travel to the [...]Airlines Globally to Lose $84 Billion in 2020; IATA
The International Air Transport Association (IATA) forecasts that airlines globally are expected to lose $84.3 billion in 2020 due to the COVID-19 pandemic that has seen a dip in the [...]Boeing Delivers 4 Jets in May
The American plane maker, Boeing, only delivered 4 jets in May 2020, 87% less than it delivered in May last year. The deliveries were the company's lowest monthly deliveries in [...]
