Bloomberg Finland’s national carrier Finnair Oyj will slash 90% of its flight capacity in response to a decline in demand caused by the global new coronavirus pandemic, resulting in a substantial operating loss this year. The airline also withdrew its dividend proposal and plans to cut costs, according to a statement on Monday. In addition, it is implementing a funding …

Bloomberg Hennes & Mauritz (H&M) and Primark are bracing for an unprecedented slump in European sales as the epicenter of the coronavirus outbreak shifts from China. Primark has closed shops that generate 30% of its total revenue as governments ordered shutdowns. H&M is shutting stores in 13 European countries, including Italy, which has more than 24,000 cases of Covid-19. The …

GENEVA / WAM All World Trade Organisation (WTO), meetings are suspended until the end of April and Secretariat staff have been requested to work from home until the end of March. Director-General Roberto Azevedo has informed WTO members and staff that access to the organisation’s premises will be restricted as of March 16. “In light of developments related to the …