The British oil and gas company BP plans to reduce about 15% of its employees due to the situation with coronavirus, as well as adapting to the trend towards the transition to renewable energy, Reuters reported with reference to sources in the company. "Bernard Looney told employees during an...

Latam, one of South America’s largest airlines, needs $ 2 billion to deal with the crisis because of the novel coronavirus pandemic, the company’s CEO Roberto Alvo told The Clinic. "According to our estimates, we need $ 2 billion in aid or financing," Alvo said. He explained that the company has...

The backing of imposition of China’s national security law for Hong Kong by Beijing by HSBC and Standard Chartered was severely criticized by senior British politicians. The stance taken by the two banks is in conflict with the British government’s opposition to recent strategy of China about the...

Net loss of the Japanese electronics giant Toshiba Corporation for the fiscal year 2019-2020 (ended March 31) amounted to 114.6 billion yen ($ 1.05 billion) against a profit of 1.013 trillion yen ($ 9.3 billion) a year earlier, according to the company’s reporting. The loss per share was 236.39 yen...

German automaker Volkswagen AG closed a $ 2.6 billion deal with Argo Al, an American manufacturer of unmanned vehicle systems. Under the terms of the agreement concluded in July 2019, the European headquarters of Argo will be created on the basis of the VW unmanned vehicle development unit in...

The coronavirus pandemic prompted the cloud-based business software maker Salesforce.com Inc to allow clients to defer payments and provided one time commissions to its sales team – all of which forced the company to slash its forecasts for revenue and profit for the entire year.   The share...

Shipping network sees delivery spike as online sales pick up amid lockdown, inevitable raising the cost at UPS. The term “second Christmas” seem to stick to “United Parcel Service Inc” during the COVID-19 pandemic as the “U.S. e-commerce companies” have seen a surge in the surcharges while the...

Southwest Airlines Co’s CEO sees the company’s “low-cost philosophy, strategy and structure” serving them “very well”. In a statement, Gary Kelly, the Chief Executive Officer of Southwest Airlines Co stated, he expects a “brutal low-fare” environment in the U.S. aviation sector once...

Thousands of officials working for American business in China are stuck outside the country. The American businesses that are in China are most worried about the disruption of the travel industry that has taken place across the globe for many are now slashing bonus and compensation figures as one...