Cathay Pacific turns to old playbook for virus crisis amid employee resistance

Cathay Pacific Airways Ltd said on Friday it made an unaudited loss of HK$4.5 billion ($580.53 million) at its full-service airlines during January-April and flagged a "very bleak" outlook as the coronavirus crisis grounded planes globally......»»

Virgin Australia Holdings Ltd on Tuesday succumbed to third-party led restructuring that could lead to a sale, making Australia's second-biggest airline the Asia-Pacific region's biggest victim of the coronavirus crisis gripping the industry......»»

Alphabet Inc's Google would waive off the fee it collects from news publishers using its ad services for the next five months, the search giant said on Friday......»»

China's GDP growth rate may only return to pre-coronavirus levels in the fourth quarter of 2020 at the earliest, says Bo Zhuang, TS Lombard's chief China economist......»»

Amazon.com Inc's vice president of the European Union segment, Roy Perticucci, has stepped down, the company confirmed on Wednesday......»»

Virgin Australia Holdings Ltd said on Thursday it would ground all domestic flights, except a single daily Sydney-Melbourne service through June 15, as it continues to seek government aid to weather the coronavirus crisis......»»

Australia's Treasury Wine Estates Ltd said it may spin off the prestigious Penfolds label and shrink its low-end "commercial" division in the United States as it seeks ways to grow profit amid upheaval brought by the coronavirus crisis......»»

Walt Disney Inc Executive Chairman Bob Iger will forgo his salary and newly named Chief Executive Officer Bob Chapek will take a 50% pay cut amid the coronavirus crisis, according to an internal email from Chapek......»»

Walt Disney Inc Executive Chairman Bob Iger will forgo his salary and newly named Chief Executive Officer Bob Chapek will take a 50% pay cut amid the coronavirus crisis, CNBC reported on Monday, citing an internal email......»»

During the Covid-19 virus crisis, it is important for contractors to protect themselves from possible legal action by adhering to the provisions of current contracts, lawyers advise......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Deutsche Bank To Split Teams Globally Amid Virus Crisis As Europe and the US wake up to a world in lockdown and Covid-19 cases and deaths surge, Deutsche Bank will.....»»

Cathay Pacific on Wednesday said profits plunged in 2019 as it reeled from political unrest in Hong Kong, while it warned financial losses lay ahead owing to the spread of the new coronavirus. .....»»

Public health officials expect cases in the Seattle area to increase but say there are things businesses and individuals can do to prevent the spread of the virus......»»

The U.S. housing market is set for its strongest spring since before the financial crisis as coronavirus sends mortgage rates lower amid the global rush for safe assets. The Treasury yields that... To view the full story, click the title link......»»

Oil prices keep unraveling amid the Wuhan coronavirus outbreak, with fears looming over how a health crisis will bite into global oil demand......»»

Hong Kong's Cathay Pacific Airways Ltd has asked all its 27,000 employees to take three weeks of unpaid leave in coming months as it battles a fall in demand caused by a virus outbreak, the company said on Wednesday......»»

Hong Kong's Cathay Pacific Airways Ltd plans to cut 30% of its global capacity over the short-term, including 90% of capacity to mainland China as it grapples with a sharp fall in demand due to the coronovirus epidemic, its CEO said on Tuesday......»»

Asia Pacific markets suffer heavy losses as death toll rises, with Chinese index closed until 3 February.....»»

Hong Kong's Cathay Pacific Airways Ltd will allow cabin crew to wear a surgical mask while operating mainland China flights due to concerns over a new coronavirus, and passengers to Wuhan to change or cancel flights without charge through Feb. 15......»»