A 2019 move by the Dutch government to buy a 14% stake in Air France-KLM was not in accordance with the country's laws, the Netherlands' Court of Audit ruled on Wednesday.
Rolls-Royce plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic.
Washington on Tuesday imposed sanctions on a China-based company it accused of acting on behalf of U.S.-blacklisted Mahan Air, the Treasury Department said, and denounced the Iranian airline's flights to Venezuela.
Rolls Royce could close some of its factories as part of a programme to cut 9,000 jobs in response to the crisis in the global aviation industry, its chief executive said on Wednesday.
Britain will look at how it can help the employees of Rolls-Royce after the engine maker said it would cut at least 9,000 jobs from its global staff of 52,000 and what options the government has to support the sector, the justice minister said.
Budget airline Norwegian Air has secured a long-sought credit guarantee from Norway's government after completing a debt restructuring, it said on Wednesday, allowing it to survive in a slimmed-down version.
Asian stocks struggled to extend the week's rally on Wednesday, and gold and bonds firmed, as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about the global recovery from the pandemic returned.
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer.
Britain's Rolls-Royce said it would cut at least 9,000 jobs from its global staff of 52,000 to adapt to the much smaller aviation market that will emerge from the coronavirus pandemic.
Oil prices held steady on Wednesday despite signs of improving demand and a drawdown in U.S. crude inventories, as worries over the economic fallout from the coronavirus pandemic capped gains.
What would seem like a sure win for elite investors - early bets on companies racing to make face masks, hand sanitizer and other coronavirus-related protective products - turned out to be a relatively unpopular strategy and one with surprisingly mixed results.
Australia has made the deepest dividend cuts globally this year, with more than $6 billion deferred or cancelled as companies conserve cash to ride out the coronavirus, turning foreign investors wary of the country's normally high-yielding firms.
Expectations for second- and third-quarter corporate profits are deteriorating further in Europe, despite a gradual easing across the continent of lockdowns aimed at curbing the coronavirus pandemic, Refinitiv data showed on Wednesday.
Johnson & Johnson on Tuesday announced it would stop selling its talc Baby Powder in the United States and Canada, saying demand had dropped in the wake of what it called "misinformation" about the product’s safety amid a barrage of legal challenges. J&J faces more than 19,000 lawsuits from consumers and their survivors claiming its talc products caused cancer due to contamination with asbestos, a known carcinogen. Many are pending before a U.S. district judge in New Jersey.
Global growth in new renewable energy capacity will experience its first annual decline in 20 years this year amid the coronavirus pandemic but is expected to pick up next year, the International Energy Agency said on Wednesday.