Renault Announces 15,000 Job Cuts
French carmaker, Renault, has announced plans to implement 15,000 job cuts around the world, even as it tries to remain afloat during the COVID-19 pandemic. The firm recorded its first [...]
Facebook Rebrands its Digital Wallet to Novi
On Thursday, Facebook announced it is rebranding Calibra, the digital wallet for the Libra Digital currency. The app will now go by Novi and will help users send and hold [...]EasyJet Slashes 30% of its Workforce
Europe’s second-biggest low-cost airline, EasyJet, plans to slash its workforce by 30%, translating to about 4,500 job cuts. The move seeks to ensure the airline stays afloat during the coronavirus [...]Boeing Resumes 737 Max Production
Boeing, the American planemaker, has announced the resumption of production of the 737 Max aircraft, albeit at a low rate. In December last year, the aviation giant announced plans to [...]Boeing Set to Implement Job Cuts in the US
American plane maker, Boeing, is set to implement job cuts in the U.S. after previously announcing that it will lay off 10% of its worldwide workforce of 160,000 employees. According [...]Warner Music Set to Launch $1.8 Billion IPO
Warner Music Group is set to launch its Initial Public Offering (IPO), aiming to rake in highs of $1.8 billion from the sale of 70 million Class A shares. Seen [...]Japan to Unveil Another $1 Trillion Stimulus Package
The world's third-largest economy, Japan, is set to unveil a second $1 trillion coronavirus economic stimulus package, a move that seeks to keep businesses and households afloat amid the global [...]Floating Power Plants; Reshaping of Mobile Power Generation
Floating power plants are taking shape all over the world, allowing innovations for mobile power generation. Companies such as Siemens, Karpower in Turkey, and ROSATOM in Russia have already launched [...]IMF Urges Banks Worldwide to Halt Dividend Payouts
The International Monetary Fund(IMF) is pushing banks around the globe to withhold payment of dividends to shareholders and instead use the cash to build their capital and liquidity positions. In [...]
LATAM Airlines Files for Bankruptcy Protection
The largest airline in Latin America, LATAM Airlines Group has filed for Chapter 11 bankruptcy protection due to economic problems attributed to the COVID-19 pandemic. The filing includes all its [...]Car Rental Company, Hertz, Files for Bankruptcy Protection
American car rental giant, Hertz, has filed for bankruptcy protection, citing a sharp decline in revenue and future bookings as a result of the global COVID-19 pandemic. This comes after [...]Italy to Reopen Borders on 3rd June
Italy has announced plans to reopen its borders to people arriving from the European Union (EU) member countries, countries within the Schengen Zone, as well as the United Kingdom (UK) [...]
