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Rolls-Royce furloughs over 4,000 staff in UK amid pandemic

British aero-engine maker Rolls-Royce said on Thursday it placed over 4,000 staff on furlough in the UK as it combats the impact of the COVID-19 pandemic on its business.

Markets

Spain’s Telefonica to merge British unit O2 with Virgin Media

Liberty Global has agreed to merge its Virgin Media cable company with the O2 mobile business owned by Spain's Telefonica to create a major new force in the British telecoms market.

Markets

AB InBev sees ‘materially worse’ second quarter after first-quarter profit drop

BRUSSELS: Anheuser-Busch InBev , the world's largest beer maker, reported a decline in profit in the first quarter as coronavirus restrictions curbed drinking and said the second quarter would be "materially worse". The brewer of Budweiser, Corona and Stella Artois has already withdrawn its ...

Markets

Air France job cuts set to test CEO Smith’s consensual style

Air France-KLM is opening talks with its French unions on workforce cuts, Chief Executive Ben Smith told Reuters, as the airline group warned of mounting losses with no clear end in sight to the coronavirus crisis.

Markets

Samsung heir’s apology fans skepticism as watchdog panel meets

Samsung Group heir Jay Y. Lee's vow to end dynastic succession at South Korea's biggest conglomerate following three generations of Lee family control sparked skepticism on Thursday.

Markets

Pentagon blasts FCC decision to approve Ligado spectrum plan

WASHINGTON: The U.S. Defense Department on Wednesday blasted a decision by the Federal Communications Commission last month to allow Ligado Networks to deploy a low-power nationwide mobile broadband network, saying it could pose severe risks to global positioning systems crucial to military ...

Markets

Smithfield Foods to restart South Dakota pork plant from May 7

Smithfield Foods Inc will restart its plant in Sioux Falls, South Dakota from May 7 after being idled for more than three weeks due to the coronavirus outbreak, the world's biggest pork processor said late on Wednesday.

Markets

Frontier Airlines rescinds empty middle seat charge after lawmaker pressure

U.S. budget carrier Frontier Airlines withdrew on Wednesday a "More Room" policy that would have given passengers the option of paying extra to keep the middle seat empty on flights after a backlash from politicians, according to a letter to lawmakers seen by Reuters.

Markets

Ford’s China ventures saw sales growth in April as market rebounds

U.S. automaker Ford Motor Co's two ventures in China have reported year-on-year sales growth for April, indicating the world's biggest auto market has started its recovery from coronavirus-induced lows.

Markets

Sinclair agrees to pay record-setting US$48 million FCC civil penalty

Sinclair Broadcast Group has agreed to pay a US$48 million fine to the Federal Communications Commission (FCC) resolving the probe into the company's abandoned deal to buy Tribune Media in what the agency said was its largest-ever civil penalty.

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