Money Matters
Moody’s and S&P downgrade Rolls Royce, IAG and other aviation-related companies
Moody’s and S&P credit rating agencies become more negative about the airline industry as a whole. IAG aviation group and subsidiary British Airways received a lower rating from…
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6,770 Boeing employees to be laid off amid low aircraft demand
Aircraft manufacturer Boeing is forced by the corona crisis to lay off at least 6,770 employees. As the global virus outbreak has put airlines in financial trouble, the…
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Andrew Findlay to leave easyJet
Financial director Andrew Findlay will leave easyJet budget airline next year. He announced this a few days after surviving a vote of confidence with other board members. Findlay…
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BP will cut half of the managing jobs
British oil and gas group BP continues with a considerably slimmed-down management layer. Of all 250 managerial positions in the top two layers of the organization, only 120…
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Turks plan to buy Philips household appliances division
A group of five Turkish companies together want to make an offer for the Philips division that makes household appliances. The directors of TOBB, DEIK, TIM, MUSIAD and…
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Ryanair expects significant drop in passenger flow whole year long
Irish airline Ryanair expects to carry half fewer passengers by March next year due to the corona crisis. In addition, the company warned in its trading update of…
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Gold reaches 2012 levels
The gold price has reached its highest level in almost eight years due to financial market concerns about the corona crisis. The price of the precious metal is…
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