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 [...]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 [...]
