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2 hours 14 minutes ago

Air New Zealand to lay off 3,500 employees as virus halts travel

Air New Zealand said on Tuesday nearly a third of its employees, about 3,500, will be laid off in the coming months, as it grapples with severe global travel curbs due to the coronavirus that has forced it to cancel nearly all flights.

2 hours 26 minutes ago

Instacart workers strike as labor unrest grows during coronavirus crisis

Some of the roughly 200,000 workers at U.S. online grocery delivery company Instacart said they were striking on Monday as labor unrest grows globally over safety and wages for people working through the coronavirus crisis.

2 hours 35 minutes ago

Workers go on strike at Amazon delivery site in Italy amid coronavirus

Around one-third of those working at an Amazon delivery station in central Italy went on strike on Monday, a union representative said, citing a request for enhanced safety measures for workers amid the coronavirus health emergency.

2 hours 53 minutes ago

Wall Street rallies, led by healthcare jump

U.S. stocks rose on Monday, led in part by healthcare stocks as investors looked for shares that have become cheap and can withstand the impact to the economy from efforts to stem the spread of the coronavirus.

2 hours 56 minutes ago

Fiat Chrysler CEO to halve his salary for three months in virus response: letter

Fiat Chrysler top executives will temporarily cut their salaries to preserve the automaker's financial soundness during the coronavirus emergency, Chief Executive Mike Manley told employees on Monday.

3 hours 3 minutes ago

U.S. senators scrutinize meat packers' big profits during pandemic

U.S. senators are calling for investigations of record profit margins for beef processors like Tyson Foods and Cargill, after ranchers complained surging meat prices due to coronavirus hoarding did not translate into higher cattle prices.

3 hours 33 minutes ago

JPMorgan plans to raise up to $10 billion for alternative investments: source

JPMorgan Chase & Co's alternative investments unit is looking to raise up to $10 billion to boost its spending power in the face of the coronavirus pandemic, a source familiar with the matter said on Monday.

3 hours 49 minutes ago

AmEx to avoid job cuts as it rides out coronavirus storm

American Express Co will avoid job cuts in 2020 as the credit card issuer "rides out the storm" brought on by the coronavirus pandemic, Chief Executive Officer Steve Squeri said in a video message to employees on LinkedIn.

3 hours 55 minutes ago

U.S. markets watchdog Clayton says SEC should not ban short-selling of shares

The head of the U.S. Securities and Exchange Commission said on Monday that it should not ban short-selling of shares, amid speculation on further measures the agency might take to arrest a market rout that stems from fears the coronavirus will spark a global recession.

3 hours 59 minutes ago

BP will not cut jobs over next three months: CEO Looney

Oil major BP PLC will not cut jobs over the next three months, Chief Executive Officer Bernard Looney said, even as the company seeks to reduce spending following an oil price crash.