United Airlines is losing more than $100 million in revenue per day and making plans to reduce payroll expenses and permanently retire some older mainline and 50-seat regional aircraft if air travel demand does not return later this year, President Scott Kirby told employees Thursday in a town hall meeting. "While we all think that […]...
(Bloomberg Opinion) -- China’s banks may be about to assume the mantle of the ultimate widows-and-orphans home for Hong Kong’s small investors.For decades, HSBC Holdings Plc has held that status — a reliable provider of investor income that even carried on paying dividends through the global financial crisis in 2008-2009. Hong Kong’s biggest bank hadn’t missed a payout in Bloomberg-compiled data going back to 1986. That changed Wednesday when London-headquartered HSBC scrapped its interim dividend in response to a request from the Bank of England. The lender’s stock plunged 9.5% in Hong Kong, the most in more than a decade.It’s difficult to overstate the importance of HSBC to individual investors in the city where it was founded more than 150 years ago. The stock is unusually widely held. Institutions own just 61.5% of the shares, compared with 94% for Standard Chartered Plc, HSBC’s London-based and Hong Kong-listed rival. Standard Chartered also cancelled...
Preliminary North American Class 8 truck orders plummeted in March to 7,400 units, the lowest order total since 2010, according to preliminary numbers release by transportation forecasting firm FTR. ...
American Airlines Co said on Thursday it is cutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic. Vasu Raja, American Airlines' senior vice president of Network Strategy, told Reuters that the airline is cutting between 70% and 75% of flights in April and about 80% of flights in May. For this month and May it is cutting nearly 90% of its international flights. Raja said domestic demand will remain weak into May, citing of the lack of bookings....
The Coronavirus Aid, Relief, and Economic Security (CARES) Act may offer some immediate relief for businesses affected by the COVID-19 pandemic, and fleets need to understand their possible eligibility. ...
