HONG KONG: Hong Kong’s Cathay Pacific Airways expects a first-half net loss of HK$9.9 billion (US$1.3 billion), including impairment charges on 16 planes, the airline said on Friday (Jul 17), as the coronavirus pandemic crushed travel demand. Earlier, the airline had flagged a “substantial” first-half loss and that it had […]
Business
LONDON: British Airways, the world’s largest operator of Boeing’s 747, said on late Thursday (Jul 17) it would retire its entire jumbo jet fleet with immediate effect due to the downturn in travel industry caused by the coronavirus pandemic. Global curbs imposed to stem the spread of the virus led […]
United Airlines and its pilots’ union said on Thursday they had reached an agreement on two different packages aimed at reducing involuntary furloughs in the fall and keeping pilots at the ready once coronavirus-hit demand starts to pick up. REUTERS: United Airlines and its pilots’ union said on Thursday they […]
Microsoft Corp said on Thursday it had trimmed its workforce across geographies and teams as it entered a new fiscal year from July 1. REUTERS: Microsoft Corp said on Thursday it had trimmed its workforce across geographies and teams as it entered a new fiscal year from July 1. The […]
German automaker Volkswagen AG expects a slight growth in China’s premium car segment this year despite a slide in broader market sales, a senior executive said. BEIJING: German automaker Volkswagen AG expects a slight growth in China’s premium car segment this year despite a slide in broader market sales, a […]
In the wake of the Wirecard accounting scandal, exchange operator Deutsche Boerse said on Thursday it was proposing rules to enable it to quickly expel companies from the leading DAX index if those firms file for insolvency. FRANKFURT: In the wake of the Wirecard accounting scandal, exchange operator Deutsche Boerse […]
Microsoft Corp said on Thursday it had trimmed its workforce across geographies and teams as it entered a new fiscal year from July 1. REUTERS: Microsoft Corp said on Thursday it had trimmed its workforce across geographies and teams as it entered a new fiscal year from July 1. The […]
The dollar held onto gains against most currencies as worries that a resurgence in the coronavirus is starting to curb economic activity drew safe-haven flows into the U.S. currency. TOKYO: The dollar held onto gains against most currencies as worries that a resurgence in the coronavirus is starting to curb […]
REUTERS: Netflix Inc on Thursday elevated its content chief Ted Sarandos to co-CEO, making the 20-year veteran of the pioneering streaming video service a clear successor to co-founder Reed Hastings. The promotion came as Netflix forecast its subscriber growth during the coronavirus pandemic would slow even more than Wall Street […]
REUTERS: Twitter had stepped up its search for a chief information security officer in recent weeks, two people familiar with the effort told Reuters, before the breach of high-profile accounts on Wednesday raised alarms about the platform’s security. The FBI’s San Francisco division is leading an inquiry into the Twitter […]