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With business vaporizing, Europe focuses on avoiding layoffs

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 ...

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Covid-19: British Airways expected to suspend 36,000 staff

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 ...

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Amazon workers strike over virus protection

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 ...

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China to give more support for businesses hit by COVID-19: Xi

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits an industrial park, which produces high-end auto parts and molds, in Ningbo, east China’s Zhejiang Province, March 29, 2020. Xi on Sunday inspected the resumption of work and production in Zhejiang. Xi Jinping, general secretary of the ...

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Saudi to raise oil exports to record levels as price war rages

Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May despite a global supply glut, escalating a price war with Russia. Oil prices are languishing at 17-year lows as the coronavirus pandemic threatens a painful global recession that could further sap demand. Saudi Arabia, the world’s top oil ...

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Brent oil dives over 7% to lowest since 2003

Oil prices slumped anew on Friday with Brent North Sea crude plumbing a 17-year low owing to massive oversupply as the coronavirus crisis paralyses global demand. Around 1435 GMT, Brent for May delivery was down 7.33 percent from Thursday, at $24.41 a barrel. West Texas Intermediate fell 5.97 percent to $21.25. Oil has tanked in recent weeks on the back ...

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Coronavirus: Record number of Americans file for unemployment

The number of Americans filing for unemployment has surged to a record high as the economy goes into lockdown due to the coronavirus pandemic. Nearly 3.3 million people registered to claim jobless benefits for the week ended 21 March, according to Department of Labor data.That is nearly five times more than the previous record of 695,000 set in 1982. The ...

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Coronavirus: Orange juice prices soar on global markets

The future price of orange juice has spiked by more than 20% this month as consumers look for healthy products during the coronavirus pandemic. While demand has risen, supply has been hit as producers struggle to transport goods due to transport restrictions. This has driven a rise in so-called “futures” prices of orange, which indicate its cost for delivery in ...

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Nike turns to digital sales during China shutdown

Sportswear firm Nike has seen online sales rise by more than 30% in China as it rides out its coronavirus store shutdowns. The US firm has shut the majority of its stores globally, but says 80% have now reopened in China. “We expect the next several weeks to be a challenging period,” said Nike chief executive John Donahoe, talking about ...

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Customers can add money to bKash from any Visa card seamlessly

Now customers can add money to bKash wallets from any Visa card free of charge. This seamless Visa-to-bKash Add Money service is aimed at enabling millions of customers to reload their bKash balance using Visa debit and credit cards issued by any bank of Bangladesh. Eastern Bank Ltd (EBL) is providing technological support for this integration between Visa and bKash. ...

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