Business

Lufthansa is closing its Germanwings budget airline as part of a wider cutback driven by a decline in travel due to the coronavirus. The German airline said it would de-commission more than 40 aircraft, warning that it does not expect demand to return for “years”.It said it would also reduce fleets in its other businesses, which include Austrian Airlines, Swiss ...

A major car insurer in the US is refunding millions of dollars to customers stuck at home during coronavirus lockdowns. Allstate, the country’s fourth biggest car insurer, said it would give back $600m (£490m) in total to customers. Another insurer, American Family Mutual, is also refunding customers, with cheques totalling $200m.Both have seen a dramatic drop in accident claims as ...

All factories in the country’s eight export processing zones (EPZs) under Bangladesh Export Processing Zones Authority (Bepza) will remain shut until April 14 from Monday to prevent the spread of coronavirus. Production at all factories in the EPZs will remain halted during the period, said a press release signed by Bepza General Manager Nazma Binte Alamgir on Sunday. Bangladesh on ...

Photo : This file photo shows an oil rig and pump jack in Midland, Texas. Goldman Sachs is warning of another sharp drop in oil prices, Thursday, March 26, 2020, saying some oil producers are eventually going to have to shut some wells because the coronavirus outbreak is crushing demand. Saudi Arabia sharply criticized Russia on Saturday over what it ...

A decade of jobs growth in the US came to an abrupt halt in March as employers shed 701,000 jobs amid the coronavirus outbreak. The unemployment rate rose to 4.4% in the biggest one-month jump since 1975, according to new data from the US Department of Labor. The leisure and hospitality industries accounted for more than half the cuts, reports ...

  International humanitarian charity, Penny Appeal, has partnered with Bradford based Regal Foods to donate essential food items and hygiene packs to front-line NHS staff at the Bradford Royal Infirmary. Sales Director, Waqar Younis, of Regal Foods Plc said “As a family run business, we believe it is our duty to give back to our community during this unprecedented crisis. ...

Dhaka Chamber of Commerce and Industry (DCCI) has urged the government to create a three-year Emergency Fund with 1 percent interest to support the financially stressed local Micro, Small and Medium Enterprises (MSMEs) and informal sector for paying salary to their workers. MSMEs with turnover Tk 1 crore can get loan with 1 percent interest and 2 percent interest for ...

Photo : European Commission President Ursula von der Leyen speaks during a media conference, detailing EU efforts to limit the economic impact of the Covid-19 outbreak, at EU headquarters in Brussels. As the new coronavirus spreads across Europe, ravaging economies and killing thousands, governments and the European Union are focusing much of their economic rescue efforts on containing a boom ...

British Airways is expected to announce it will suspend around 36,000 staff. The airline, which grounded much of its fleet due to the coronavirus crisis, has been negotiating with the Unite union for more than a week.The two sides have reached a broad deal but are yet to sign on some details.The agreement means that up to 80% of BA ...

Amazon has fired a New York warehouse worker who organised a protest over the safety precautions taken by the firm to deal with the coronavirus pandemic. The fight comes as pressure builds on Amazon, and other delivery firms, to improve protection for workers worried about getting infected with the virus.The firing of the worker prompted a rebuke by the state’s ...