Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds. Route subsidies feature on a list of financial support requests circulated among airline members of the International Air Transport Association (IATA) and seen by Reuters. "Airlines will need support to maintain their networks, which play a critical role in driving the world's economy," Geneva-based IATA states in the 12-page digest of "key messages" for airline public affairs executives to take to governments.
There has been a huge amount of focus recently on a product that retails for about $1, but it critical for protecting health-care workers.
Next-generation operating models driving enterprise agility—especially in the time of COVID-19 disruption—will be the focus of an online roundtable discussion featuring an expert with Information Services Group (ISG) (Nasdaq: III), leading global technology research and advisory firm, at the April 16 meeting of the Minnesota Chapter of the Society for Information Management (SIM). The live, virtual conversation will cover how next-generation operating models are driving agile responses to the current global pandemic today and how they will drive enterprise agility over the coming decade.
Singapore has suspended the use of Zoom for online education after hackers hijacked a lesson and showed obscene images to students.
The U.S. Centers for Disease Control and Prevention extended its "no sail order" for all cruise ships, as it looks to prevent the spread of the novel coronavirus pandemic. The CDC new order https://bit.ly/3a1Ar9I says that cruise ships have to cease operations for up to 100 days, or the expiration of the Secretary of Health and Human Services' declaration that COVID-19 constitutes a public health emergency, or if the CDC Director rescinds or modifies the order. The order, dated April 9, comes as the cruise industry takes a hit from the novel coronavirus outbreak, with trips across the globe either canceled or suspended and refunds issued to customers.
It’s offering the Olympus O-MD E-M10 Mark II Micro Four Thirds mirrorless camera, complete with an M.Zuiko Digital ED 14-42mm f/3.5-5.6 II R lens for just $299, less than half the regular price.
The $2.3 trillion CARES Act sets aside $25 billion in cash grants for U.S. airlines, and about 90 percent of that money is expected to go to the nation’s six largest carriers.
State and local governments will get budgetary breathing room from the Federal Reserve to cover at least some revenue lost in coronavirus-related shutdowns, but likely not enough to fully plug shortfalls.
Lear Corp. said Friday it was implementing a temporary 20% salary deferral for all salaried employees in the U.S. and Canada. The auto parts maker said Chief Executive Ray Scott's salary will be reduced by 10% for the rest of 2020, and other named executive officer salaries will be cut by 5%. To put Scott's salary cut in context, Scott's base salary was $1.20 million in 2019, representing 8.7% of total compensation of $13.72 million, which included $1.10 million in non-equity incentive plan compensation and $442,453 in other compensation. Lear has recently announced measures it was taking in response to the COVID-19 pandemic, including making face masks and temporarily suspending its dividend and share repurchases. The stock has dropped 33.2% over the past three months, while the S&P 500 has declined $17.7%.
The numbers: The consumer-price index dipped 0.4% last month, the biggest decline in five years, the Labor Department said Friday. Core inflation, minus food and energy, prices fell 0.1% in March, the first decline in 10 years. The rate of inflation over the past 12 months fell to 1.5% from 2.3%.
Enzychem Lifesciences (KOSDAQ: 183490) today announced that it has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) covering treating COVID-19 infections and symptoms using EC-18, the Company's lead compound.
Popular Detroit-area artist, Robert Dempster, has produced a music video for a song he wrote honoring those at the very front line of the COVID-19 coronavirus pandemic called Heroes Work Here. The inspiration for the song and video came to him when talking to family members and friends who are working the front lines at some of Detroit's most overwhelmed hospitals due to this deadly virus. "I've been so moved by the stories they tell me and by what I've seen with my own eyes, that the lyrics just came to me," said Dempster.
Stargazer Cast Iron, a direct-to-consumer cast iron cookware manufacturer in Allentown, PA, announces that it will donate 10 percent of proceeds from purchases made through its online store from April 12, 2020—April 25, 2020 to local Lehigh Valley restaurants.
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Turkey has held talks with the United States about possibly securing a swap line from the Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday. While Ankara is keen to secure funding from the U.S. central bank if possible, the officials said Turkey is not at the same time considering pursuing a deal with the IMF given what they called negative domestic perceptions of working with the Fund. Analysts have raised concerns that a draw-down in foreign reserves could hamstring Turkey's response to the pandemic, heightening the need for foreign funding.
Employers are broadening their efforts to help their workers cope with COVID-19 while at the same time preparing for an eventual return to a stable workplace, according to Willis Towers Watson’s latest survey of employers’ responses to the pandemic. Willis Towers Watson (WLTW) is a leading global advisory, broking and solutions company. Employers reported a dramatic increase in remote work: 39% said over three-quarters of their workers could now work remotely, up from just 14% before the pandemic.