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…
More than $800 million to support businesses, organizations and healthcare workers has been committed by Google, to help the in the fight against the coronavirus pandemic and most of that amount will be in the form of free advertising. A total of $250 million in ad grants — an increased amount compared to the $25…
In order to reduce the economic impact of the coronavirus pandemic, measures to measures to cut the wages of its players and staff are being taken by the football club FC Barcelona, the club said this week. After a meeting of the board of directors of the club through a video conference, it announced that…
A BBC report has claimed that Virgin Atlantic will be approaching the United Kingdom government for a bailout package worth hundreds of millions of pounds soon as it is hit very hard by the coronavirus pandemic. Other airlines also expected to ask the government for help. The government has said that it will intervene to…
The dire need to provide debt relief to the poorer countries that have been hit by the coronavirus pandemic was reiterated by the chiefs of the World Bank and International Monetary Fund on Friday while also insisting that major role has to be played by official bilateral creditors. Emergency programs to offer grants and loans…
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