As expected, JC Penney, one of the largest US department store chains, filed for bankruptcy. This is stated in the message of the company, founded in 1902. Notification of the beginning of the restructuring procedure in the conditions of protection against creditors under Art. 11 US Bankruptcy Laws...

Airbus needs to be “resized”, plans for which are to be set out around the end of June, the European plane maker has told senior staff. The company has said that it is also ready to slash jet production again to be able to address and meet the challenges of a possible second wave of the coronavirus...

Anticipating the prolongation of the coronavirus crisis, European plane maker is now considering further restructuring plans that include the possibility of “deep” job cuts. The company had already furloughed thousands of workers, said reports quoting industry sources said. The reports however...

As sports events, which attracted most advertisers, are being postponed due to the ongoing pandemic crisis, media companies across continent find a common platform to boost revenue. Comcast Corp informed that the advertisement of both the media companies, namely “NBCUniversal and Sky”, were up for...

The international rating agency Moody's Investors Service (Moody's) has worsened its forecast for car sales in the world in 2020 to fall by 20% instead of the previous March forecast of 14% amid a coronavirus pandemic, the agency said in a study. "The rating agency now expects that car sales in the...

A number of companies in Central Europe that offer remote, lower-cost services for multinationals are trying to transform the economic calamity because of the coronavirus pandemic into an opportunity as a new business order of remote working kicks in. Covid-19 - the disease caused by the novel...

Japanese automaker Mazda Motor is negotiating with a group of banks, in particular, MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank, to raise a credit line worth 300 billion yen ($ 2.8 billion) to maintain the company's liquidity in the midst of a coronavirus pandemic, Nikkei Asian Review...

Colombia's largest airline and Latin America's second largest airline, Avianca Holdings, filed for bankruptcy to begin the reorganization process in connection with the crisis caused by the novel coronavirus pandemic, the company said. “On May 10, 2020, Avianca Holdings SA and a number of its...

The coronavirus pandemic severely impacted the business of Uber in the forts quarter that resulted in the company reporting a loss of $2.9 billion. The company however said that that pandemic hit will be cushioned to an extent by   its growing food delivery business and its aggressive...