Category: Business

Factbox: Airlines suspend China flights because of coronavirus outbreak

Here is the latest on their plans (in alphabetical order): AIR CANADA (AC.TO) Air Canada said on Jan. 28 it was cancelling select flights to China. AIR FRANCE (AIRF.PA) Air France said on Jan. 30 it had suspended all scheduled flights to and from mainland China until Feb. 9. AIR INDIA Air India said it […]

Boeing will not cancel CEO incentive award tied to 737 MAX return

Boeing Co (BA.N) told U.S. lawmakers it will not cancel an incentive award for its new chief executive tied to the return of its grounded 737 MAX despite criticism from Congress, according to a letter made public on Tuesday. David Calhoun, who took over as Boeing chief executive last month, is receiving a $1.4 million […]

Macy’s to close 125 stores, cut more than 2,000 jobs

Macy’s Inc (M.N) said on Tuesday it plans to close 125 of its least productive stores over the next three years to tackle slowing mall traffic and will slash more than 2,000 corporate jobs as a part of a cost-savings effort. The Cincinnati, Ohio-based company operated 867 stores according to a regulatory filing a year […]

Baby Yoda powers Disney streaming subscriptions to fast start

Walt Disney Co’s new streaming service Disney+ reached 28.6 million paying subscribers this week, the company said on Tuesday as it reported quarterly earnings that beat Wall Street forecasts. Shares of Disney were flat following the results after bouncing between positive and negative territory. The results showed Disney made a strong entrance into the streaming […]

Credit Suisse revisits ex-U.S. employee’s spying claim

Lawyers for Credit Suisse (CSGN.S) last week re-interviewed a former bank executive who said the Swiss lender had her followed in New York, according to a person familiar with the matter, weeks after the company dismissed her allegation as baseless. Credit Suisse asked lawyers from Zurich-based firm Homburger to speak again to Colleen Graham, who […]

Oil prices jump 2% as virus vaccine reports spur hope

Oil prices jumped about 2% on Wednesday on media reports that suggested scientists were developing a vaccine for the fast-spreading coronavirus, even as world health experts said treatments have not yet been found. Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output […]

Credit Suisse also spied on Greenpeace: newspaper

Credit Suisse (CSGN.S), which has faced a scandal related to spying on senior executives, also conducted espionage against Greenpeace, Swiss newspaper SonntagsZeitung reported. Then-Chief Operating Officer Pierre-Oliver Bouee ordered his head of security to infiltrate the environmental group after Greenpeace disrupted the bank’s annual shareholder meeting in 2017, the paper said in an article published […]