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July 13, 2020

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Chanel warns virus impact will linger on luxury sector

Reuters
by Reuters020
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......
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Vans, not glamorous, but key as EU weighs autos mega-merger

Reuters
by Reuters018
MILAN/PARIS (Reuters) – Their silhouettes don’t stir dreams of adventure like a sports car or trendy SUV, but vans are a rare source of profit for European carmakers, which is why EU regulators are focused on them as they decide whether to back an industry mega-merger. FILE PHOTO: A Peugeot......
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Mother’s Day sales uptick doesn’t cover coronavirus downturn, Washington D.C. florist says

Reuters
by Reuters032
WASHINGTON (Reuters) – Mother’s Day during the coronavirus pandemic meant an uptick in sales for Lee’s Flower and Card Shop in Washington, D.C. FILE PHOTO: Lee’s Flower Shop, one of the oldest businesses in D.C.’s U Street neighborhood, posts signs on its windows ahead of another night of protests against......
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Sharp learning curve for bosses as WFH goes global

Reuters
by Reuters015
Two weeks into the coronavirus lockdown and Sergei Holmeckis, a boss at Deutsche Telekom’s Czech operations in the city of Brno, was frustrated with staff video calls. His team didn’t like turning on their cameras and the discussion was stilted. Source – For more click here To Return to the......
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Lufthansa warns its $10 billion bailout deal is in jeopardy

Reuters
by Reuters020
FRANKFURT (Reuters) – German airline Lufthansa (LHAG.DE) warned on Wednesday that it might need to apply for protection from creditors if its state-backed bailout deal failed to win sufficient support at a shareholder vote on June 25. FILE PHOTO: Lufthansa ticket agents help travelers at the Denver International Airport outside......
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Hilton to cut 2,100 corporate jobs globally

Reuters
by Reuters014
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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Fed launches long-awaited Main Street lending program, seeks to reach nonprofits

Reuters
by Reuters015
NEW YORK (Reuters) – The Federal Reserve on Monday launched its Main Street Lending Program, the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic. FILE PHOTO: Federal Reserve Board building on......
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NYSE to reopen trading floor to some market makers on Wednesday

Reuters
by Reuters022
FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon (Reuters) – The New York Stock Exchange will allow a limited number of market makers......
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Fed launches long-awaited Main Street lending program

Reuters
by Reuters016
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo NEW YORK (Reuters) – The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex......
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Exclusive: Mexico’s oil hedge to be pricier, but government likely doing it anyway

Reuters
by Reuters012
NEW YORK/MEXICO CITY (Reuters) – Mexico will have to pay more for less coverage under its giant oil revenue insurance policy for 2021, but will likely go ahead anyway to avoid further damaging its financial standing with international investors, sources said. FILE PHOTO: General view shows Mexican state oil firm......
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Volkswagen in Mexico will begin sending workers back to plant on Tuesday

Reuters
by Reuters013
FILE PHOTO: The logo of Volkswagen is pictured at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson MEXICO CITY (Reuters) – Volkswagen AG’s (VOWG_p.DE) Mexican unit will begin sending workers back to its plant in the central state of Puebla on Tuesday for “preparation......
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Reuters - Business

EasyJet resumes flying with COVID-19 measures in place

Reuters
by Reuters017
LONDON (Reuters) – EasyJet (EZJ.L) aircraft will take to the skies on Monday for the first time since March 30, as the British carrier resumes a small number of mainly domestic flights after weeks of lockdown. FILE PHOTO: An Easyjet Airbus A319 plane is seen at Luton Airport, following the......
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Systemic racism slows economic growth: Dallas Fed chief Kaplan

Reuters
by Reuters014
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir WASHINGTON (Reuters) – Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan......
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CVS joins Walmart in keeping multicultural beauty products out of locked cabinets

Reuters
by Reuters013
FILE PHOTO: A logo of CVS Health is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson (Reuters) – Drugstore chain CVS Health Corp (CVS.N) joined Walmart Inc (WMT.N) in announcing it......
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Lawmakers label British Airways ‘national disgrace’ over jobs

Reuters
by Reuters014
LONDON (Reuters) – British Airways was labelled a “national disgrace” by lawmakers for its treatment of employees on Saturday, adding to pressure on the airline as it juggles job cuts and new quarantine rules. FILE PHOTO: British Airways planes are seen parked at Bournemouth Airport, as the spread of the......
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Volkswagen, Audi on hold as Mexico’s Puebla state not ready to reopen

Reuters
by Reuters09
FILE PHOTO: An employee leaves the Volkswagen (VW) plant as the company will temporarily close its factories in Mexico amid growing worries over the spread of the coronavirus disease (COVID-19), in Puebla, Mexico March 29, 2020. REUTERS/Imelda Medina/File Photo MEXICO CITY (Reuters) – Mexico’s Puebla state, where German automaker Volkswagen......
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Reuters - Business

Coronavirus threatens Chicago’s last remaining trading pits

Reuters
by Reuters013
CHICAGO (Reuters) – Chicago brokers and traders worry the novel coronavirus will kill more of the city’s once famous shout-and-gesture trading pits. FILE PHOTO: Men enter the CME Group offices in New York, U.S., October 18, 2017. REUTERS/Brendan McDermid CME Group (CME.O), which owns the Chicago Board of Trade, said......
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Reuters - Business

Lufthansa to offer coronavirus testing at German airports

Reuters
by Reuters017
FILE PHOTO: A Lufthansa jet is seen behind a barbed-wire fence at the airport as the spread of coronavirus disease (COVID-19) continues in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach BERLIN (Reuters) – German airline group Lufthansa (LHAG.DE) plans to offer coronavirus tests at airports in Frankfurt and Munich, a......
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BA, easyJet and Ryanair launch legal action over UK quarantine

Reuters
by Reuters019
FILE PHOTO: A British Airways passenger plane comes in to land at London Heathrow airport, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 21, 2020. REUTERS/Toby Melville LONDON (Reuters) – British Airways, easyJet (EZJ.L) and Ryanair (RYA.I) have launched legal action against the UK government’s quarantine policy,......
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Reuters - Business

Japan’s Fujifilm to spend $928 million to double capacity of Danish drug facility

Reuters
by Reuters018
FILE PHOTO: Fujifilm’s company logo (top) is seen at its exhibition hall nearby the headquarters of Fujifilm Holdings Corp in Tokyo, Japan June 12, 2017. REUTERS/Kim Kyung-Hoon/File Photo (This June 10 story corrects second paragraph to say facility makes antibody drugs, not viral vaccines) TOKYO (Reuters) – Fujifilm Holdings Corp......
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