SoftBank Group-backed Indian ride-hailing company Ola will cut 1,400 jobs, or about 35% of its workforce, as it navigates a strict coronavirus lockdown that has halted 95% of its business, company chief Bhavish Aggarwal told employees on Wednesday.
As businesses reopen, protecting customers and employees is critical for companies that fear a wave of potential Covid-19 legal liabilities.
Lessors including AerCap and BOC Aviation are now the biggest shareholders in Norwegian Air after the budget carrier completed a debt restructuring and secured a long-sought credit guarantee from Norway's government.
Harley-Davidson Inc is reopening its factories this week at lower production rates and sending dealers a narrower range of motorcycles, the Wall Street Journal reported on Wednesday.
Global stocks rose on Wednesday as investors regained hopes of recovery from a coronavirus-fuelled recession, while oil prices also strengthened.
Target Corp's quarterly online sales surged 141% due to panic buying in the coronavirus crisis, the retailer said on Wednesday, driving results past Wall Street expectations even as its operational costs soared.
Delta Air Lines Inc is likely to increase capacity this summer by adding flights in June and July as U.S. domestic travel slowly picks up amid the novel coronavirus pandemic, its chief executive officer said on Wednesday.
Going forward, schools will likely take a different approach to virtual learning and face-to-face instruction.
OPEC is encouraged by a rally in oil prices and strong adherence to its latest output cut, its secretary general said, although sources say the group has not ruled out further steps to support the market.
Britain's government stands ready to help those affected by a plan at engine maker Rolls-Royce to cut at least 9,000 jobs, a spokesman for Prime Minister Boris Johnson said on Wednesday.
U.S. authorities on Wednesday arrested a former Special Forces soldier and another man wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.
There appears to be agreement in Washington to give companies more time to utilize their coronavirus aid under the Paycheck Protection Program, the head of the U.S. Senate's small business committee said on Wednesday.
Several Ryanair trade unions say they will resist an attempt to cut pay and conditions for a five-year period, citing management promises of a swift recovery from the coronavirus crisis and the fact its CEO has committed to a pay cut for just one year.
Food giant Nestle said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.
Shares in Luckin Coffee Inc slumped almost 40% to a record low in premarket trade on Wednesday, as they resumed trading after more than a month's halt and a day after the Chinese coffee chain said it received a delisting notice from Nasdaq .