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August 12, 2020
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Reuters - Business

Chanel warns virus impact will linger on luxury sector

Reuters
MILAN/PARIS (Reuters) – The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel’s chief financial officer said on Thursday, warning the French fashion label’s 2020 revenues and profit would be significantly hit. Chanel bags and creations are displayed on mannequins......
Reuters - Business

Audi boss to head carmaker’s R+D division: sources

Reuters
FILE PHOTO: Markus Duesmann, board member of German luxury carmaker BMW attends the company’s annual news conference in Munich, Germany, March 21, 2018. REUTERS/Michael Dalder MUNICH (Reuters) – Markus Duesmann, the head of Audi (NSUG.DE), will also head the research and development division at German carmaker Volkswagen’s (VOWG_p.DE) premium brand,......
Reuters - Business

Air maintenance firms, manufacturers plan for $60 billion in lost sales

Reuters
(Reuters) – Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year – and more pain to follow – as airlines park or retire thousands of aircraft due to the coronavirus pandemic. FILE PHOTO: People work near......
Reuters - Business

Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD survey

Reuters
SINGAPORE (Reuters) – Business sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months. FILE PHOTO: A worker wearing a protective......
Reuters - Business

Tesla signs three-year pricing deal with battery cell maker Panasonic

Reuters
FILE PHOTO: The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch (Reuters) – Tesla Inc (TSLA.O) has signed a three-year pricing deal with Japan’s Panasonic Corp (6752.T) relating to the manufacture and supply of lithium-ion battery cells at the......
Reuters - Business

Southwest extends limited seating on flights through September

Reuters
FILE PHOTO: Social distancing sign is displayed at a check-in area for Southwest Airlines Co. at Los Angeles International Airport (LAX) on an unusually empty Memorial Day weekend during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, U.S., May 23, 2020. REUTERS/Patrick T. Fallon (Reuters) – Southwest......
Reuters - Business

Hilton to cut 2,100 corporate jobs globally

Reuters
FILE PHOTO: The logo of Hilton hotel is seen in Batumi, Georgia, May 2, 2016. REUTERS/David Mdzinarishvili/File Photo (Reuters) – Hotel chain Hilton Worldwide Holdings Inc (HLT.N) said on Tuesday it would cut 2,100 corporate roles globally in response to the coronavirus outbreak. The company also said it is extending......

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