China Ditches GDP Targets Due to the Pandemic
China has abandoned its practice of setting GDP targets due to uncertainty brought by the COVID19 pandemic. Chinese Premier Li Keqiang gave the remarks on Friday in China's annual parliamentary [...]
Alibaba Stock Dips After Slow Growth Projections
Chinese E-commerce giant Alibaba's stock dipped 4% in today's trading at the Hong Kong Exchange after the company projected slower revenue growth. Alibaba forecasted 2020 sales will grow by 27.5% [...]IBM Announces Massive Layoffs
IBM plans to lay off an unspecified number of employees across the United States. The states include California, Missouri, New York, North Carolina, and Pennsylvania. According to the Corporation, the [...]Singapore Airlines Posts First Loss in its 48 Year History
Singapore Airlines (SIA) has posted a $149 million full-year net loss, its first annual loss in 48-years of existence and a shift from the $480 million profit recorded in the [...]Victoria's Secret Closes 250 Stores in the US Canada
Victoria's Secret has announced plans to permanently close 250 stores in the United States and Canada in 2020. The move comes as more firms across the world continue to record [...]Oxfam to Cut Staff by 1,450 and Exit 18 Countries amid Coronavirus Pressures
Oxfam International will lay off 1,450 of its staff and withdraw its physical presence in 18 countries due to the pandemic's financial pressures. Oxfam will remain with offices in 48 [...]Japan Slips into a Technical Recession
Official figures released on Monday indicate that Japan has entered into a technical recession following dismal economic performances in the last quarter of 2019 and the first quarter of 2020. [...]
Jack Ma to Resign from SoftBank's Board
Alibaba co-founder, Jack Ma, will resign from the SoftBank board on 25th June 2020 after serving as a director for 13 years. Although the company did not give a reason [...]Cathay Pacific Group Posts $581 Million Loss
Cathay Pacific Group's two main airlines, Cathay Pacific and Cathay Dragon have posted a combined unaudited loss of $581 million in the first four months of 2020. In April, the [...]Engineers Charles Mwangi and Shen Jackson Quit Cloudkitchens
Senior Engineers Charles Mwangi and Shen Jackson quit their jobs last week, raising questions about whether Cloudkitchens could lose more engineers. The two were part of a team of 50, [...]More Job Losses in Airlines as Emirates and Air Canada Announce Lay Offs
Airlines faces more job losses as major airlines down their planes cut off jobs. Emirates is planning to decommission 40% of the Airbus fleets and lay off almost a third [...]Emirates, Air France Ryanair to Resume Passengers Flights
Dubai’s state-owned airline, Emirates, France's Air France-KLM, and Irish budget airline,Ryanair, have announced plans to resume scheduled passenger flights, albeit on a small scale. Emirates plans to resume flights to [...]
