Markets

British Airways plans to slash up to 12,000 jobs

It said it may cut as many as 12,000 jobs. British Airways' restructuring program may affect up to 12,000 employees. IAG said its passenger capacity in April and May had fallen by 94% compared to a year ago, with only flights for essential travel and repatriation continuing to operate. [Full Article...]

Tripadvisor cuts 900 workers, closing Boston and San Francisco offices

Tripadvisor cuts 900 workers, closing Boston and San Francisco offices Tripadvisor CEO Steve Kaufer informed employees Tuesday morning in a town hall meeting that the company is reducing its global workforce by 25 percent, including 600 US employees as part of a broader restructuring, Skift has learned. Outside of the layoffs and furloughs, Kaufer says the "majority" of Tripadvisor's remaining salaried employees in most markets are being asked to move to a four-day ... [Full Article...]

USA oil futures lose more than 3% for the session

USA oil futures lose more than 3% for the session As of writing, the barrel of West Texas Intermediate was down 26% on the day at $12.80 while the barrel of Brent was trading at its lowest level since February 2002 at $19.70. Visit MarketWatch.com for more information on this news. Kuwait and Azerbaijan are coordinating cuts, while Russian Federation is set to reduce its western seaborne exports by half in May. [Full Article...]

Coronavirus: Small businesses shun government loans due to affordability fears

Coronavirus: Small businesses shun government loans due to affordability fears Under the new loan scheme, small firms will be able to apply for loans of up to a value of £50,000 or 25% of their turnover, whichever is lower. The government, which has been consulting extensively with business representatives about the design of the new scheme, will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. [Full Article...]

Wall St jumps at open on upbeat corporate earnings

Wall St jumps at open on upbeat corporate earnings Wall Street has recovered more than 30% from its March lows, rescued by official stimulus efforts and, more recently, by signs states were moving to let businesses reopen after a near total halt in activity. Southwest Airlines jump-started first-quarter reports for the day with its first quarterly loss in nine years, but shares rose 3.4 per cent as it said its average daily cash burn will slow in ... [Full Article...]

Donald Trump to Declare Meat Processing Plants Critical Infrastructure

Donald Trump to Declare Meat Processing Plants Critical Infrastructure Meanwhile, workers at a Smithfield plant in South Dakota told The Epoch Times that executives from WH Group, Smithfield's parent company in China, regularly visit the plant, and even visited the plant about a month after President Trump had banned travel from China. [Full Article...]

IRS adds details to online stimulus money tool

IRS adds details to online stimulus money tool Non-filers who receive SSI benefits should receive their automatic payments by mid-May, according to the IRS. Supplemental Security Income (SSI) and Veterans Affairs benefit recipients who don't file a tax return and have dependant children need to act by 5 May to claim the $500-per-child stimulus payment. [Full Article...]

IAG announces up to 12,000 redundancies in wake of Covid-19 crisis

IAG announces up to 12,000 redundancies in wake of Covid-19 crisis There is no government bailout standing by for BA and we can not expect the taxpayer to offset salaries indefinitely. Union leaders criticized the plans and said the airline should have worked to secure more government aid to avoid cutting jobs . [Full Article...]


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