Markets
Virus-hit German economy plunges into recession
That picture strengthens expectations that Europe's largest economy is facing its deepest recession this year since World War II. "The corona pandemic hits the German economy hard". Recently, the United Kingdom posted a first-quarter contraction of 2.2%. A similar fate is befalling the wider Eurozone, Swedish Radio reports , citing new figures from the European Union's own Eurostat body which... [Full Article...]
USA department store JCPenney files for bankruptcy
Penney has struggled for years under a multibillion-dollar debt load. Its bankruptcy filing in Houston included $900 million of financing to fund the company through its restructuring, including $450 million of fresh capital. Crew , the Neiman Marcus Group, and the designer men's clothing brand John Varvatos. Its decline began a decade ago with the advent of online shopping and the rise of Ama... [Full Article...]
Emirates to launch nine commercial destinations next week
Emirates will also reconnect with Chicago, Frankfurt, London Heathrow, Madrid, Melbourne, Milan, Paris, Sydney and Toronto. However, travellers will only be accepted on the aforementioned flights if they comply with the eligibility and entry criteria requirements of their destination countries. [Full Article...]
Don't Make A Slow Aviation Recovery More Difficult With Quarantine Measures: IATA
Transportation Department said Tuesday. By the end of 2020, traffic was expected to be between 50 per cent and 55 per cent of the level seen in 2019. World airline body opposes countries imposing quarantine for international travellers The representative body for the global airline industry, the International Air Transport Association (Iata ), has opposed the introduction by some countries of q... [Full Article...]
United Kingdom tells European Union on Brexit: Blink or there will be no deal
He added the bloc would not seal a new trade deal with London without level playing field guarantees of fair competition or without a comprehensive agreement on fisheries . Meanwhile, the UK's chief negotiator said "very little progress" had been made in the trade talks . Frost said it is quite "clear" a free trade agreement on matters such as security and aviation can be met "without major ... [Full Article...]
Coronavirus pandemic sends retail sales tumbling to record lows
The nosedive came as lockdowns meant to curb the coronavirus forced businesses across the country to close or scale back operations as shoppers hunkered down at home. The April data shows a fuller extent of government shutdowns created to contain the coronavirus, compared to the partial impact seen in March. The group, which includes Amazon, saw an 8.4% for the month. [Full Article...]
Dow slides early Thursday to extend string of losses this week
His comments stoked concerns about renewed U. S. China's countermeasures include launching investigations and imposing restrictions on USA companies such as Apple Inc, Cisco Systems Inc, Qualcomm Inc, as well as suspending purchase of Boeing Co airplanes, the report said, citing a source. [Full Article...]
China uses trade as weapon to silence virus criticism
On Tuesday, China imposed a partial ban on the imports of meat from Australia and threatened an 80 percent import tariff on Australian barley. The moves raised suspicions in Australia that China was punishing Australia for its political positions, as it has done to other nations in the past. [Full Article...]