Alitalia's $3.3 Million Cash Injection from State
Italy’s flag carrier, Alitalia, is set to receive a $3.3 million cash injection from the Italian government as it plans on nationalizing the carrier. In March, the Italian government approved [...]
Uber to Layoff 14% of its Workforce
Ride-hailing firm, Uber plans to layoff 3700 employees working in customer support and recruiting teams globally, approximately 14% of the workforce. The company's CEO will forgo the base salary for [...]
Daily Global Markets Coverage
Pinterest Inc. revenue for Q1 2020 landed GREW 35$ to $272 million while its net loss deepened by 241% to $141 million from a net loss of $41.4 million posted [...]Virgin Atlantic Cuts 3000 Jobs
UK airline, Virgin Atlantic, says it will cut 3,150 jobs owing to the COVID19 pandemic. The move aims to cut costs and preserve cash. CEO Shai Weiss said the company [...]Airbnb Slashes 25% of Jobs
Airbnb has announced plans to lay off 25% of its workforce in the wake of the coronavirus that has continued to take a toll on businesses across the world. According [...]Uber Lyft Sued Over Misclassifying Workers
The Attorney General of California, alongside city attorneys of San Francisco, Los Angeles and San Diego have jointly sued ride-hailing companies, Uber and Lyft on grounds of misclassifying their workers. [...]Uber Eats Closes Operations in Seven Markets
Uber's food delivery platform, Uber Eats has announced plans to exit seven markets across the world, with the company reiterating that the changes are not in any way related to the [...]Ireland Becomes AfDB's 81st Shareholder
The Republic of Ireland has become the African Development Bank Group’s 81st shareholder, following a declaration issued by the institution’s President, Akinwumi Adesina, on 24 April 2020. Ireland’s application to [...]Apple, Exxon Amazon Earnings Brief
Exxon reports $610M Q1 Loss, first time in 32 years Exxon Mobil reported a loss of $610 million in the first quarter of 2020 from a profit of $2.35 billion [...]Mobile Data Pricing 2020 Report: Somalia has the Cheapest Mobile Data in Africa
Cable.co.uk carried out a study between 3rd February and 25th February 2020, collecting data from 5,554 mobile data plans across 228 countries, trying to find out the average mobile data [...]Qantas Airways Gets $550 Million in Debt Funding
Australian airline, Qantas Airways has secured $550 million in debt funding against three of its Boeing 787-9 aircraft. This new funding follows a previous $1.05 billion raised in March against [...]Rolls-Royce Opens its Digital Academy for Free Training
Rolls-Royce has opened its digital academy for free access, publishing its digital skills training program in order to help people and businesses around the world prepare for a potentially digital-centric [...]
