Indian steel major Tata Steel’s European business – Tata Steel Europe, has said that it could cull as many as 1,250 jobs primarily to cut costs in the face of “challenging circumstances” and the “needs to urgently improve profitability”. According to a report published by the news agency Reuters, this was revealed in an internal…
Britain’s largest retailer Tesco has agreed on a deal with Thailand’s CP Group to sell off its businesses in Thailand and Malaysia for a value of $10.6 billion. The company said in a statement in Monday that entire shareholding in Tesco Stores (Thailand) Ltd, Tesco Stores (Malaysia) Sdn Bhd will be transferred to the CP…
All of the employees of Google parent company Alphabet have been asked to work from home till April 10 in order to limit the spread of the coronavirus, said reports quoting an email circulated to its employees by the company and now available with the media. “Out of an abundance of caution, and for the…
The Trump administration has once again allowed U.S. companies to continue to do business with China’s Huawei Technologies Co Ltd by extending the trade license until May 15, 2020. The U.S. Commerce Department had previously extended it until April 1. Separately, the U.S. Commerce Department has sought public comments on whether it should issue future…
On Wednesday, Fiat Chrysler said, it is considering the temporarily closure, of some of its plants in Italy in response to the coronavirus outbreak – the largest in Europe. FCA also mentioned, it had boosted and intensified measures across its facilities to support the Italian government’s directives to curb the spread of China’s coronavirus.
On Tuesday, leading U.S. airlines including Delta and American announced the suspension of their 2020 financial forecasts and took strong measures to further boost their capabilities to fight the economic impact of China’s coronavirus United announced a capital raising event and reported a first-quarter loss. The coronavirus pandemic has deeply impacted the tourism sector and…
South Korea’s Samsung Display, a supplier for Samsung Electronics and Apple Inc, has requested Vietnam to exempt 700 South Korean engineers from its mandatory quarantine requirement saying they are needed to prepare for the production of screens for new smartphones. South Korea is Vietnam’s biggest foreign investor. In an effort to contain the outbreak of…
On Monday, in a statement Amazon.com Inc said it is soon announce the creation of a new business line which will sell the technology behind its cashier-less convenience stores to other retailers. Amazon.com has already signed “several” deals with customers, whom it would not name, towards this end. It will launch a new website on…
On Monday, in a statement Hong Kong’s Cathay Pacific Airways Ltd said, it could fly only freight to Japan, and not carry any passengers, if it decides to retain some services whose cancellation it announced at the weekend over travel curbs proposed by Japan over China’s coronavirus. On Saturday, Cathay Pacific had cut most of…
An urge for an aid of $2 billion to support the efforts to develop a vaccine for the novel, fast spreading and deadly coronavirus that is the cause of the deadly COVID-19 infections around the world was given on Friday by a global coalition set up to fight epidemic diseases. The Coalition for Epidemic Preparedness…
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