Amazon Leases 12 Boeing Cargo Planes
Amazon plans to lease 12 Boeing 767 jets that have been converted to cargo from Air Transport Services Group (ATSG). The lease brings the Amazon Air fleet to 82 cargo [...]
Google Faces $5 Billion Lawsuit Over Alleged Privacy Breach
Search giant Google is facing a $5 billion class-action suit for allegedly tracking users' data in browsers set in private mode. The lawsuit covers millions of users who browsed in [...]Amazon in Talks to Buy $2 Billion Stake in Bharti Airtel
The E-commerce giant, Amazon, is reportedly eyeing a $2 billion stake in Bharti Airtel, roughly 5% of the Company's current market value. The investment will not only boost India's digital [...]Zoom Posts 169% Jump in Q1 Revenue
Zoom generated $328.2 million in the first quarter of 2020 compared to $122 million in the first quarter of 2019. Its performance beat analysts' projections who expected $202.48 million in [...]Australia Set For Its First Recession in 3 Decades
Australia is bracing for its first recession in 29 years after its Gross Domestic Product (GDP) fell in the first quarter of 2020. A recession is defined as two quarters [...]Western Union Offers to Acquire MoneyGram
Western Union may have initiated takeover talks with MoneyGram, a person familiar with the deal told Bloomberg. The takeover will result in one of the largest providers of money-transfer services [...]
Lufthansa Posts $2.4 Billion Net Loss
Germany’s largest airline, Lufthansa, posted a net loss of $2.4 billion in the first quarter of 2020, “significantly impacted” by the COVID-19 pandemic. This compares to a net loss of [...]Podcast; Pandemic Will Change Global Trade Dynamics
The COVID19 pandemic could potentially change the entire dynamic of global trade in the long run. Companies will revert to less stretched and interdependent global channels and turn closer to [...]Embraer in Talks for a $600 Million Financing Deal
The world's third-largest commercial jet builder, Embraer, is in talks with Brazil's state development bank BNDES and private banks for $600 million worth of financing (including bond issues). According to [...]Deloitte to Lay Off 5% of its Workforce
Consulting giant, Deloitte, has announced it will lay off 5% of its workforce in the United States, with about 2,500 job cuts happening within the company's consulting division alone. According [...]Emirates Fires 180 Pilots in Fresh Wave of Layoffs
Dubai's state-owned airline, Emirates, has fired 180 pilots as it implements cost-cutting measures in order to remain afloat amid the global COVID-19 pandemic that has seen a dip in airline [...]Volkswagen Invests $2.33 Billion in China's Electric Cars
Volkswagen plans to invest $2.33 billion in two separate Chinese electric vehicle firms, setting a giant print in the world's biggest auto market. According to the company, they will invest [...]
