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 [...]Emirates Lays Off an Additional 600 Pilots
Dubai's state-owned airline, Emirates, has laid off an additional 600 pilots, after it fired 180 pilots on 31st May 2020. The airline has also laid off 700 Cabin Crew members. [...]Austrian Airlines Gets $675 Million Bailout
Lufthansa's Austrian Airlines unit is set to receive a $675 million bailout from the government of Austria and other lenders, a move that seeks to protect Vienna as a transit [...]Tesla Stock Hits an All-Time High after Model 3 China Sales Jump 205%
Tesla stock has hit a new record high, closing over $949 on Monday, in part on news that the company tripled its Model 3 sales in China in May following [...]BP Announces 10,000 Job Cuts
Oil giant, BP, has announced plans to cut 10,000 jobs worldwide, citing a global decline in demand for oil because of the COVID-19 pandemic. Therefore, staff will be able to [...]Wallstreet Ends Higher on Hopes of July Stimulus Package
US Stock markets on Monday closed higher driven by news that Trump's Government would unveil another economic relief package in July. This was despite an announcement earlier in the day [...]
