Bloomberg Boeing Co is almost doubling its planned job cuts as the coronavirus pandemic and prolonged grounding of the 737 Max jet dim prospects for a financial recovery next year. With the outlook for aircraft sales still uncertain, executives abandoned a forecast that Boeing would stop burning cash next year and said they would eliminate an additional 7,000 jobs. That ...

Bloomberg The Netherlands has rejected a cost-cutting plan put forth by Air France-KLM’s Dutch arm and withheld a portion of a $4 billion government bailout until it approves the restructuring plan. The Dutch government won’t grant a second tranche of state aid because pilot union VNV rejected a pay cut, Finance Minister Wopke Hoekstra and Infrastructure and Water Management Minister ...

Bloomberg IAG SA, owner of British Airways, said it is conducting a review of hedging policy after the coronavirus pandemic sparked a mammoth loss on oil derivatives contracts. The company uses such contracts to try and limit its fuel bill — usually the single biggest expense for airlines — but lost 1.6 billion euros ($1.9 billion) as a result of ...

Bloomberg Steinhoff International Holdings NV former Chief Executive Officer Markus Jooste has been fined more than 162 million rand ($9.9 million) by a South African regulator for insider trading ahead of the retailer’s near collapse almost three years ago. Jooste sent a text message to four people warning them to sell their stock in the company in the days before ...

Bloomberg IndiGo will trim its fleet size over the next two years as the coronavirus pandemic continues to weigh on Asia’s biggest budget airline by market value and other carriers around the world. “Fleet count will be stagnant, go down a little,” CEO Ronojoy Dutta told analysts during a conference call. “In 2022, we will be down slightly, by 2023, ...

Bloomberg The final stretch of the race for the White House between Donald Trump and Joe Biden has been fraught with dramatic twists — a hospitalised president, a resurgent pandemic, the death of an iconic Supreme Court justice, and the rapid confirmation of her successor. Yet none of it appears to have altered the course of the race that was ...

Bloomberg At least seven Hong Kong pro-democracy politicians were arrested on Sunday allegedly in relation to scuffles at a Legislative Council meeting in May, RTHK reported. Democratic Party members Wu Chi-wai, Andrew Wan and Helena Wong were arrested by police, the party said in a Facebook post. Former legislators Eddie Chu and Raymond Chan were also detained, according to their ...

Bloomberg Less than a day after Prime Minister Boris Johnson announced a month-long lockdown for England, one of his top ministers and closest allies signalled the measures might have to be extended if they fail to contain the spread of the coronavirus. “It will get reviewed on December 2, but we’re always driven by what the data show,” Cabinet Office ...

Bloomberg Polls opened in Algeria for a referendum on amendments to the constitution that authorities say will address the causes of long-running unrest in the state. Voting took place nationwide from 8 am to 8 pm on Sunday, with results due on Monday. Unfortunately for a government craving stability, many of the millions who joined mass protests since early 2019 ...

Bloomberg Angela Merkel’s Christian Democratic Union plans to meet in January as the party prepares to select the leader who will take it into next year’s elections. Three candidates are competing for prime position to replace Merkel, who will step down as chancellor after 16 years running Europe’s largest economy. Germany’s ruling party had originally planned to stage an in-person ...