Coronavirus: EasyJet to cut up to 4,500 jobs over COVID-19 crisis

EasyJet is looking to cut up to 4,500 jobs and shrink its fleet, following the collapse in air travel due to coronavirus. The move represents nearly a third – 30% – of the Luton-based airline’s 15,000-strong workforce. It joins other carriers, including British Airways and Ryanair, which have already announced major job losses in response to the COVID-19 pandemic that […]

Read more

OPEC+ debates biggest-ever oil cut as virus destroys demand

DUBAI/LONDON/MOSCOW (Reuters) – OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic. The meeting of OPEC and allies such as Russia has been scheduled for Monday, […]

Read more

OPEC+ debates biggest ever cut as virus destroys oil demand

DUBAI/LONDON/MOSCOW (Reuters) – OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic. The meeting of OPEC and allies such as Russia has been scheduled for Monday, […]

Read more

Sainsbury’s to cut hundreds of jobs in latest shake-up

Sainsbury’s says it is to cut “hundreds” of management jobs, building on a cull of more senior roles last year. The retailer blamed continued integration of Argos, which it bought in 2016, into the supermarket chain’s stores for the decision. It refused to give clarity on the total number of people involved but said the announcement represented the “finalising” of […]

Read more

WeWork cut deeper into junk territory

WeWork CEO Adam Neumann steps down FOX Business’ Susan Li discusses WeWork’s change in executive management. S&P Global Ratings cut WeWork’s credit rating deeper into junk territory amid concerns it won’t be able to meet its growth plans. Continue Reading Below The credit rating agency on Thursday lowered WeWork’s rating one notch to B- and assigned a negative outlook, saying […]

Read more

Will Fed cut interest rates in September? Here's what we know

Fed’s Jerome Powell: We expect job growth to be slower than last year Federal Reserve Chairman Jerome Powell discusses why the central bank lowered the benchmark interest rate by a quarter of a percentage point. The Federal Reserve just cut interest rates for the first time since 2008 — now, investors want to know whether policymakers at the U.S. central […]

Read more

Deutsche Bank to cut 18,000 jobs, exit equities sales by 2022

Dark clouds cover the sky over the headquarter of Deutsche Bank in Frankfurt, Germany, Sunday, July 7, 2019. The supervisory board of the bank meets on Sunday to decide about further strategies. (AP Photo/Michael Probst) Deutsche Bank announced Sunday it will exit its equities sales and trading business and cut 18,000 jobs by 2022 as part of a major strategic […]

Read more

Will the Federal Reserve Cut Interest Rates at Its June Meeting?

The Federal Reserve's policy-making Federal Open Market Committee (FOMC) is set to hold its two-day June meeting this week, with its latest interest rate decision, statement, dot plot, and economic forecasts all scheduled to be released at 2 p.m. EDT on Wednesday. While the FOMC isn't expected to cut interest rates at this meeting, it's by no means out of […]

Read more
1 2 3 4