SoftBank Group-backed Indian ride-hailing company Ola will cut 1,400 jobs, or about 35per cent of its workforce, as it navigates a strict coronavirus lockdown that has halted 95per cent of its business, company chief Bhavish Aggarwal told employees on Wednesday.
JetBlue Airways Corp said on Wednesday it will continue blocking seats on its aircraft through at least July 6, while United Airlines Holdings Inc said it had teamed up with Clorox Co and Cleveland Clinic medical experts to advise on new cleaning and safety protocols.
Harley-Davidson Inc is reopening its factories this week at lower production rates and sending dealers a narrower range of motorcycles, the Wall Street Journal reported on Wednesday.
French carmaker Renault will re-open its Normandy-based Sandouville plant in northeastern France on Friday, a trade union source told Reuters on Wednesday.
Target Corp reported a 64per cent plunge in quarterly profit on Wednesday, pummeled by costs to tackle the coronavirus outbreak, even as panic-buying during the crisis lifted the big-box retailer's online and store sales.
The reasons behind the proposed merger of car makers Fiat Chrysler and Peugeot-owner PSA are "stronger than ever" as the COVID-19 pandemic adds to existing challenges facing the industry, the FCA chairman said on Wednesday.
Home improvement retailer Lowe's Cos Inc reported an 11.2per cent rise in quarterly same-store sales on Wednesday, as coronavirus lockdowns led people to spend more on tools and paint for home remodelling and repairs.
Deutsche Bank's CEO said the bank needed to become more profitable before taking a leading role in European banking consolidation and dismissed concerns it would need state aid as it handles the fallout of the coronavirus outbreak.
A 2019 move by the Dutch government to buy a 14per cent stake in Air France-KLM was not in accordance with the country's laws, the Netherlands' Court of Audit ruled on Wednesday.
Budget airline Norwegian Air has secured a long-sought credit guarantee from Norway's government after completing a debt restructuring, it said on Wednesday, allowing it to survive in a slimmed-down version.
