Following the backing down of Japan’s investment firm SoftBank from an agreement to buy $3bn of WeWork shares, the office space company’s founder and former chief executive, Adam Neumann, has now threatened to sue the Japanese firm – which is incidentally also the biggest investor in WeWork. The deal would have helped Neumann himself sell…
According to the CEO of United States based aircraft maker Boeing has warned that the global airline and the aerospace industry will take years to recoup from the bit of the coronavirus pandemic and has therefore offered its employees buyouts. Voluntary layoff packages with pay and benefits for exiting employees is being offered by the…
For the very first time, from April 9, Walt Disney Co’s Disney+ content will be made available in the Middle East and North Africa in the region’s pay television and online streaming service provider OSN. Dubai-headquartered OSN has signed a “long-term” exclusive distribution rights agreement with Walt Disney. OSN’s Chief Executive Patrick Tillieux declined to…
There is increasing pressure on Amazon and other delivery companies to implement more secure safety measures for workers who are worried about getting infected with coronavirus. A walkout from work over inadequate protection was staged by some workers at the United States food delivery firm Instacart and US and Italian workers at Amazon. Concerns over…
The air travel curbs imposed globally because of the coronavirus pandemic has forced global airlines to ground their planes and this is likely to force British aero-engine maker Rolls-Royce to slash its 2020 cash flow target, said analysts. Rolls forecast 2020 free cash flow of 1 billion pounds, excluding any material impact from COVID-19 during…
Barclays Bank has announced it would reduce its carbon footprint to net zero by 2050 as it conceded to investor pressure over its climate track record. The London headquartered bank had promised to align all of its financing activities with the goals and timelines of the Paris agreement. It will start with rethinking of its…
The coronavirus pandemic bringing down global demand for oil as well as the breakdown of the production pact between the oil cartel OPEC and Russia and other oil producers earlier this month has crashed global oil prices to its lowest since 2002. At one point on Monday, the Brent crude fell to $22.58 a barrel…
