German aircraft company Deutsche Lufthansa plans to downsize up to 26,000 jobs due to a sharp decline in air traffic amid a pandemic. The company is trying to negotiate with unions on ways to reduce staff costs before an extraordinary general meeting of shareholders, which will discuss a plan to save the group. The carrier predicts a slow recovery in demand in the aviation industry and expects...

Mulberry, a British manufacturer of luxury handbags, accessories and clothing, plans to cut about 25% of its employees worldwide because of the negative impact of the novel coronavirus pandemic, the company said. As noted, the company staff consists of 1,400 employees. Mulberry explains the downsizing by the decline in sales due to the coronavirus pandemic. Also, according to the manufacturer of...

For the first time in several decades, the German airline Lufthansa left the main index of the Frankfurt Stock Exchange DAX, follows from the data of Deutsche Boerse AG. The stock exchange covers the 30 largest joint-stock companies in Germany. Earlier, airline management cited a possibility of bankruptcy in the wake of the COVID-19 coronavirus pandemic. “Deutsche Wohnen SE shares will be...

Warner Music record company raised nearly $ 2 billion during the IPO. The initial offering has become the largest in the US market since the beginning of the year. Warner Music, owned by billionaire Leonard Blavatnik, has carried out an initial public offering on Nasdaq, according to the exchange’s website. The company announced an initial public offering of 77 million ordinary Class A shares at...

The international rating agency Moody's Investors Service (Moody's) has retained ratings of German concerns Volkswagen Aktiengesellschaft (VW), Daimler AG and Bayerische Motoren Werke Aktiengesellschaft (BMW), the agency said. Long-term issuer ratings of VW and Daimler were kept at “A3”, BMW at “A2”, forecasts for all ratings were negative. The ratings also went out of the list for review with...

The market capitalization of Zoom, the video conferencing service, exceeded $ 50 billion for the first time during Friday trades, according to the exchange. As a result of trading on May 29 at NASDAQ, the company's share price rose 9.74% to $ 179.48. At this price, its market value was $ 50.61 billion. According to Bloomberg, this year the company's capitalization has grown by more than $ 30...

Credit Suisse plans to revise its approach to lending to billionaires after the crisis, Bloomberg reports. In particular, the management of the second largest bank in Switzerland will re-evaluate risks of lending to customers associated with the oil and gas industry and shipping. Credit Suisse is getting ready to revise its approach to working in one of the most profitable areas of its business -...

Twitter’s Head Jack Dorsey donated $ 10 million to a charity that will give out the money to 10,000 families affected by the crisis. Dorsey turned out to be the most generous billionaire during the pandemic: in April, he promised to send $ 1 billion to fight the disease - a third of his fortune at that time. Jack Dorsey, general director of Twitter and Square payment platform, donated $ 10...

Bayer, a German chemical company, has reached a settlement with most plaintiffs in the US glyphosate pesticide lawsuit. The agreement extends to an estimated 50-85 thousand out of about 125 thousand plaintiffs, Bloomberg reported, citing informed sources. The agreement has not yet been signed. Under its terms, each of the plaintiffs will receive several thousand to several million dollars....