Airbus says virus aviation crisis still at 'early stage'

Airbus reported 481 million euros ($515 million) in losses in the first quarter, put thousands of workers on furlough and sought billions in loans to survive the coronavirus crisis and its CEO said Wednesday the aviation industry’s unprecedented troubles are still at an “early stage.” Even after virus-related travel restrictions eventually ease, Chief Executive Guillaume Faury acknowledged it will take […]

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Accenture, others built platform to find new engagement for millions who lost jobs

People + Work Connect was designed by Chief Human Resource Officers from Accenture, Lincoln Financial Group, ServiceNow and Verizon and the service is free of cost. As unemployment surpasses record highs due to COVID-19, a group of leading companies from multiple industries has formed People+Work Connect, an employer-to-employer initiative that brings together companies laying off or furloughing people with those […]

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Tata Motors to turn passenger vehicles unit into a subsidiary

Assets to be transferred; central functions to remain at TML The board of Tata Motors Ltd. (TML) has given in-principle approval to turn the company’s Passenger Vehicle (PV) business (including electric vehicles) into a subsidiary by transferring relevant assets, intellectual property rights and employees directly related to the PV business, for it to be fully functional on a standalone basis […]

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As petro demand declines, IOC cuts refinery throughput

Firm to raise LPG output; no need for panic-booking, it says India’s largest fuel retailer Indian Oil Corporation (IOC) has cut down the throughput from its refineries across the country by almost 30% as the demand for petroleum products such as petrol, diesel, aviation turbine fuel (ATF), fuel oil and bitumen, has reduced substantially following the outbreak of COVID-19 in […]

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Amended: BT In Talks To Sell French Domestic Operations To Computacenter; Stock Up

(Amended the story to say BT will retain a strong presence in France) Shares of BT Group plc (BT_A.L,BT) and Computacenter plc (CCC.L) were gaining Tuesday morning in London after the companies announced Tuesday that they have entered exclusive negotiations for the sale of BT’s domestic operations in France to Computacenter. The transaction is subject to consultations with works councils […]

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Curaleaf Gets Essential Services Designation; To Buy Three Dispensaries

Curaleaf Holdings Inc. said it has received an ‘Essential Services Designation’ in key markets, allowing its medical dispensaries to remain open during the COVID-19 outbreak. The Massachusetts-based cannabis company added that it will hire across its retail, cultivation and processing facilities. In addition, Curaleaf said it will acquire three Arrow Alternative Care or AAC dispensaries in the state of Connecticut, […]

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