Shell's Net Earnings Drop by 46%
The oil and gas company Shell recorded a 46% drop in net earnings in the first quarter to hit $2.9 Billion. This massive decline has forced the oil multinational to [...]
Samsung, Huawei Take Massive hit from COVID-19
Sales of Samsung and Huawei smartphones suffered the heaviest declines in the first quarter of this year as the devastating impact of COVID-19 hit consumption and production of global smart [...]Ryanair Set to Retrench 3000 Employees
Irish budget airline Ryanair plans to retrench 3000 staff members and reduce the employee wages by up to 20% as COVID19 continues to hurt businesses. The airline expects passenger numbers and [...]
American Airlines Posts $2.2 Billion Loss
American Airlines posted a $2.2 billion net loss in the first quarter of 2020, its first quarterly loss since emerging from bankruptcy in 2013. The loss is a shift from [...]
Global Markets Daily
Trip Advisor Fires 25% of Employees
TripAdvisor Inc. is cutting about a quarter of its workforce in a bid to shrink costs as the global coronavirus pandemic decimates travel. According to Gulf News, the Needham, Massachusetts-based [...]Lufthansa to Get a $10.8 Billion Bailout from Germany
Germany's largest airline, Lufthansa, is set to receive a $10.8 billion bailout from the German government so as to remain afloat during the COVID-19 pandemic that has punctured the aviation [...]British Airways to Lay Off 12,000 Staff
British Airways (BA) has announced plans to lay off up to 12,000 staff in the wake of the coronavirus pandemic that has seen all international passenger flights suspended, resulting in [...]UNCTAD Urges for $1 Trillion Debt Write Off
The UNCTAD (United Nations Conference on Trade and Development) is urging for the writing off of close to $1 trillion debts owed by developing countries across the world. The move [...]Airbus Hints at Possible Job Cuts
European planemaker Airbus is hinting at possible job cuts in the wake of the coronavirus pandemic that has seen countries close their borders, suspend all international passenger flights, and airlines [...]Etihad Airways Extends Suspension of Scheduled Flights
UAE's flag carrier, Etihad Airways, has suspended its scheduled flights until 15th May 2020. Initially, the airline had planned to partially resume passenger flights from 1st May 2020. Etihad and [...]Boeing Halts Joint Venture with Embraer
American plane maker, Boeing, has terminated its Master Transaction Agreement (MTA) with its Brazilian counterpart, Embraer. Under the contract, the two companies had agreed to create a joint venture, including [...]
