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AmEx to freeze hiring, not cut jobs as coronavirus crisis deepens- Bloomberg News

Credit card issuer American Express Co will freeze hiring and avoid job cuts this year in response to the coronavirus pandemic, Bloomberg news reported on Monday, citing a video message to employees from Chief Executive Officer Steve Squeri.

Markets

Williams-Sonoma, Pottery Barn unit made unsubstantiated ‘made in America’ claims: FTC

Luxury kitchenware company Williams-Sonoma Inc and its Pottery Barn unit have agreed to stop making unsubstantiated "made in America" claims and to pay US$1 million, the Federal Trade Commission said on Monday.

Markets

Oil prices slide on shattered demand, European stocks rise

LONDON: Oil prices plunged on Monday (Mar 30) to an 18-year low as the number of novel coronavirus cases worldwide surged past 700,000, reinforcing worries about the impact of the pandemic on the global economy. US and European stock markets moved higher despite the prospect of much of the...

Markets

Airbus struggles to lift crisis-hit jet output

Europe's Airbus is grappling with labor and supply chain shortages and may only be able to restore aircraft production to some 10-20per cent of normal levels for now because of partial shutdowns, industry and union sources said.

Markets

Microsoft says Skype users surge amid coronavirus outbreak

Microsoft Corp said on Monday its video calling platform Skype saw a 70per cent jump in usage in March from a month earlier, as more people shift to working from home amid the coronavirus pandemic.

Markets

Finnish government pushes Fortum to strive for carbon neutrality

Finland's center-left government on Monday gave its blessing to majority state-owned Fortum's strategy to cut emissions, but promised to push the company further towards carbon neutrality, the minister in charge wrote.

Markets

Macy’s to furlough most of 130,000 employees as stores stay shut

Macy's Inc said on Monday it would furlough most of its 130,000-strong workforce starting this week as all of the company's stores have been temporarily shut due to the coronavirus pandemic.

Markets

Saudi to raise oil exports to record levels as price war rages

Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May despite a global supply glut, escalating a price war with Russia.

Markets

France’s Renault puts Paris white collar staff on partial unemployment

French carmaker Renault put most of its white collar staff in the Ile-de-France region around Paris on partial unemployment on Monday as the lockdown imposed due to the coronavirus outbreak lowered activity.

Markets

Swiss bank UBS sticks to 2019 dividend amid global calls for payout freezes

UBS Group intends to pay its 2019 dividend, the Swiss bank said on Monday, despite guidance from markets supervisor FINMA, the Swiss government and international banking groups to limit payouts as the coronavirus outbreak hits the global economy.

Markets

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