Economy

Air Canada to lay off another 16,500 workers, slash capacity by 90%

Air Canada to lay off another 16,500 workers, slash capacity by 90%

The airline will be executing a company-wide cost reduction and capital deferral program that will target at least $500 million. Additionally, Rovinescu, as well as Michael Rousseau, deputy chief ex...

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Coronavirus: Messi reveals why Barcelona players accepted 70 percent pay cut

Coronavirus: Messi reveals why Barcelona players accepted 70 percent pay cut

Messi said an agreement was delayed because the team was "looking for a formula" to help the club and workers. Lionel Messi of Barcelona scores his sides third goal from a free kick during the ...

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Large business, non-profits, charities all eligible for wage subsidy, Trudeau says

Large business, non-profits, charities all eligible for wage subsidy, Trudeau says

The prime minister said he would continue to work from home to set an example for Canadians who are being asked to stay at home. Initially, the federal government said it would increase its wage sub...

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Coronavirus: Human testing for Johnson & Johnson COVID-19 vaccine by Sept

Coronavirus: Human testing for Johnson & Johnson COVID-19 vaccine by Sept

J&J also committed more than $1 billion of investment along with USA agency Biomedical Advanced Research and Development Authority ( BARDA ) to co-fund vaccine research, expanding a previous collabora...

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Macy’s to furlough majority of its 130,000 workers

Macy’s to furlough majority of its 130,000 workers

All Macy's stores have been closed since March 18. The company on Monday said it is transitioning to an "absolute minimum workforce" needed to maintain basic operations. At least through May , furlo...

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Microsoft to divest AnyVision stake, end face recognition investing

Microsoft to divest AnyVision stake, end face recognition investing

These speculations don't take into account the "level of oversight or control" Microsoft loves over facial recognition, as indicated by a joint proclamation from Microsoft's M12 venture capital fu...

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Australia issues new coronavirus restrictions

Australia issues new coronavirus restrictions

He additionally stated that there can be a six-month moratorium on evicting people who discover themselves in monetary misery. States and territories have been enforcing these 10-person limits with ...

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Condom shortage looms as coronavirus shuts down production

Condom shortage looms as coronavirus shuts down production

Underserved communities who rely on free samples will find difficulties in securing family planning tools like condoms at this time. However, the MCO has resulted in the closure of manufacturing plant...

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Crude oil futures drop as pandemic darkens demand outlook

Crude oil futures drop as pandemic darkens demand outlook

On Monday, Brent futures were down 6.7 percent, or $1.68, to $23.25 a barrel as of 0249 GMT, after earlier dropping to $23.03, the lowest since November 2002. In recent days prices for crude oil at ke...

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Slack Beats Microsoft as Demand Rises For Remote Work

Slack Beats Microsoft as Demand Rises For Remote Work

Simultaneously connected users increased 400% in just two weeks, from 10 million on March 10, 2020 to 12.5 million on March 25, 2020. During weekdays, the cumulative number of minutes of active use ...

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Singapore Airlines : obtains $13 billion rescue package amid coronavirus shock

Singapore Airlines : obtains $13 billion rescue package amid coronavirus shock

Many countries around the world have already stepped in to assist airlines amid the virus-induced travel plunge, with the US providing $58 billion in aid. The airline intends to use the proceeds from ...

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Coronavirus: Minister defends wait for self-employed bailout

Coronavirus: Minister defends wait for self-employed bailout

Doing so would cost £3.6 billion (S$6.2 billion) for three months if one million people claimed it. Workers will be able to access the grant no later than June, and it is expected that 95 percent of...

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COVID-19 crisis: Federal government announce worker wage guarantee

COVID-19 crisis: Federal government announce worker wage guarantee

As ChannelNews tipped earlier today the formula for payment will be based on BAS returns, what is not known is whether retailers who were struggling prior to the Coronavirus and were on payment scheme...

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Coronavirus: Australian travellers complain about their five-star quarantine hotels

Coronavirus: Australian travellers complain about their five-star quarantine hotels

Australians urged to only shop for the essentials and nothing more: Mr Morrison reminded people it isn't a time for browsing or catching up with friends. "We need landlords and tenants to sit down and...

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Treasury Secretary Predicts Economy Will Come 'Roaring Back' After Coronavirus

Treasury Secretary Predicts Economy Will Come 'Roaring Back' After Coronavirus

On Sunday, the secretary announced his department will provide loans for small businesses to keep them afloat and cover the salaries of their workers. "The loans to small businesses will be ready for ...

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Stimulus Checks: How Much You're Getting | Hackensack

Stimulus Checks: How Much You're Getting | Hackensack

Q: I am not an American citizen, do I qualify? He noted, "I've never signed anything with a "T" on it", referencing the $2 trillion dollar amount. How much will it help your family? Others may hav...

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New Australian Lockdown Rules to Stop Covid-19

It also includes private properties, so people should not have more than one person over to their home at a time. The Prime Minister has defended the move to allow passengers on board the Artania in...

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Covid-19 can now be detected in 5-Minute

Covid-19 can now be detected in 5-Minute

Abbott will be making ID NOW COVID-19 tests available next week to healthcare providers in urgent care settings in the US, where the majority of ID NOW instruments are in use today. "We are working to...

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Detroit Auto Show canceled; venue will be converted into field hospital

Detroit Auto Show canceled; venue will be converted into field hospital

Leadership from the U.S. Army Corps of Engineers, Michigan National Guard and other federal and state agencies visited... First reported by the Detroit Free Press Saturday afternoon, the major eve...

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Instacart shoppers plan strike Monday to demand coronavirus protections

Instacart shoppers plan strike Monday to demand coronavirus protections

Instacart is one of several companies delivering essentials to households and now expanding rapidly at a time when much of the American economy is at risk of contracting. The company, along with Lyf...

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Fraudulent Medical Note Closes McDonald's

Fraudulent Medical Note Closes McDonald's

On March 23, police say it received information from officials about the employee, who handed in the forged medical information four days earlier. As management began working with Ontario Public Hea...

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Trump orders reserve units, ventilators for virus

Trump orders reserve units, ventilators for virus

But when he was pressed again on whether he could assure that every American would have access to a ventilator if they needed one, Trump responded to the reporter by saying , "Look, don't be a cutie ...

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Italy’s coronavirus death toll surpasses 10,000

Italy’s coronavirus death toll surpasses 10,000

The death toll from an outbreak of coronavirus in Italy climbed by 756 to 10,779, the Civil Protection Agency said, the second successive fall in the daily rate. On Sunday, top health official Dr An...

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Australian Prime Minister Toughens Rules to Stem Spread of Coronavirus

Australian Prime Minister Toughens Rules to Stem Spread of Coronavirus

He also "strongly advised" those over the age of 70 to "self-isolate for their own protection". "That will assist you to get the accurate and timely information about what is being done by governmen...

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U.S. lawmakers: Saudi Arabia threatens United States domination over oil markets

U.S. lawmakers: Saudi Arabia threatens United States domination over oil markets

According to WSJ, Saudi Arabia may need to cut prices even further as worldwide benchmark Brent has fallen below even the discounted rates at which the country is looking to sell. Following social dis...

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Sports Direct boss issues apology for ill-judged coronavirus response

Sports Direct boss issues apology for ill-judged coronavirus response

Ashley's letter explains: "In hindsight, our emails to the government were ill-judged and poorly timed, when they clearly had much greater pressures than ours to deal with". "There has been no dress r...

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Social Distancing Measures Have Halved COVID-19 Infection Rate - Australian Prime Minister

Social Distancing Measures Have Halved COVID-19 Infection Rate - Australian Prime Minister

He said the cash injection is directed at combating the secondary effects of the pandemic on people's health as more Australians shift to working at home or face the prospect of losing their jobs an...

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US offers $58bn aid to airlines as govts seek to avert bankruptcies

US offers $58bn aid to airlines as govts seek to avert bankruptcies

Norwegian Air is attempting to safe a authorities lifeline price as much as $270 million beneath sure situations, and this week two Nordic banks have been authorized to offer a assure for the required...

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Texas Roadhouse CEO is Giving Up His Salary to Pay Workers

Texas Roadhouse CEO is Giving Up His Salary to Pay Workers

To help struggling employees amid the novel coronavirus pandemic, the steakhouse chain executive will forego his pay from March 18, 2020, to January 7, 2021, MarketWatch reported Wednesday . One comp...

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Banks launch special emergency loans for customers amid coronavirus crisis

Banks launch special emergency loans for customers amid coronavirus crisis

The bank said no additional security was required for this facility. Ensuring continuation of these credit lines is also crucial for banks so that their existing borrowers don't slip into the non-pe...

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UK Prime Minister Boris Johnson tests positive for Coronavirus

UK Prime Minister Boris Johnson tests positive for Coronavirus

In a tweet, the PM wrote that he was self-isolating, but promised that he would "continue to lead the government's response via video-conference as we fight the virus". He also said his symptoms were ...

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Financial-aid requests won't be hindered by Service Canada closures: Trudeau

Financial-aid requests won't be hindered by Service Canada closures: Trudeau

The Liberals say the move, announced late Thursday night, should not affect most unemployed workers who seek employment-insurance benefits since the vast majority of applications are done online. The ...

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Hopes on stimulus help Wall Street retain gains

Hopes on stimulus help Wall Street retain gains

The S&P 500 was set to open lower on Wednesday after a strong rebound in the previous session as optimism about an imminent $2 trillion coronavirus package waned, with investors still concerned about ...

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Wall St. holds gain as Senate reaches stimulus deal

Wall St. holds gain as Senate reaches stimulus deal

The S&P 500 slid 3.2% while the Nasdaq Composite dropped 2.9%. One day after a record gain at the (virtual) New York Stock Exchange, the Dow Jones Industrial Average had a more modest day of gains...

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Tesla retasks NY plant to produce ventilators

Tesla retasks NY plant to produce ventilators

Mr Musk purchased 1,255 ventilators from three manufacturers - ResMed, Philips and Medtronic - last week. Tesla CEO Musk made the statement after he had made an announcement to donate direly neede...

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