Business News

Coronavirus: Private Jet Demand Soars as Rich Russians Holiday Amid Lockdown in the West

Many private jet companies are receiving requests from mid-April for flights to Vienna, Larnaca and Riga from individuals and families with children.

May 27, 2020

By R. Ghosh

Coronavirus

Workers from ScanDrill Ltd clamp together pieces of pipe while drilling an oil well for Jagged Peak Energy Inc near Fort Stockton, Texas.

Why U.S. Energy CEOs Will Get Big Payouts Despite Oil Meltdown

Many investors have lost patience with the poor returns of energy companies worldwide

May 27, 2020

By Reuters

Oil Falls on US-China Tensions Over Hong Kong

Traders were also paying attention to the early signals on the meeting between the Organization of the Petroleum Exporting Countries and its allies in less than two weeks

May 27, 2020

By Reuters

Coronavirus

Red Cross Urges Governments to Join Forces to Fight Cyberattacks on Healthcare Sector

Earlier, Interpol warned that cybercriminals are increasing ransomware attacks on healthcare systems to hold hospitals to ransom amid the Covid-19 outbreak.

May 27, 2020

By R. Ghosh

Coronavirus Cybersecurity Ransomware

Merck Joins Coronavirus Fight; Enters Deals to Develop Two Separate Vaccines

Merck plans to shoulder the cost of ramping up production of the vaccines but is yet to finalize where they will be manufactured commercially.

May 26, 2020

By R. Ghosh

Coronavirus

Singapore Cuts 2020 GDP Outlook Again as Economy Headed for Deepest-Ever Recession

Singapore's economy shrank 0.7% year-on-year in the first quarter and 4.7% on a quarter-on-quarter basis.

May 26, 2020

By Reuters

Coronavirus

Latin America's Largest Airline LATAM Files for US Bankruptcy Protection

LATAM, which has about $1.3 billion in cash on hand, was downgraded by Fitch on Friday.

May 26, 2020

By Reuters

Coronavirus

Germany Saves Lufthansa from Crashing; Agrees $9.8B Rescue Package

Lufthansa, Europe's second-largest airlines, has experienced severe financial fallout from travel bans, with 95% of its fleet currently grounded.

May 26, 2020

By R. Ghosh

Coronavirus

German Survey Fuels Stock Gains, Euro Investors Eye EU Summit

Lockdown measures introduced in mid-March have put the global economy on track for a recession this year

May 25, 2020

By Reuters

French Carmaker Renault Could Close Plants And Cut Jobs: Union

French carmaker Renault (RENA.PA) could unveil job cuts and plants closures on Thursday as the company looks to save 2 billion euros ($2.2 billion) in costs

May 25, 2020

By Reuters

Coronavirus