Airbnb plans to halt all of its marketing, pause most hiring, and likely withhold employee bonuses as it tries to conserve cash amid a slide in bookings, CEO Brian Chesky told employees in a video conference call, The Information reported on Friday.
A bipartisan majority of Americans appear to reject an idea floated by President Donald Trump to reopen businesses by Easter, according to a Reuters/Ipsos poll, which also showed that nearly one in four have been laid off or furloughed during the coronavirus outbreak.
United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action.
European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers.
U.S. airlines expect to learn the terms of federal aid meant to protect workers' payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc said on Friday.
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases of commercial mortgage-backed securities, one of the new programs the central bank is rolling out to backstop an economy under threat from the coronavirus outbreak, according to details of the arrangement released on Friday.
U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations.
General Motors Co has reached a $120 million settlement with drivers who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take no salary for the next six months while top executives will take a 50% cut, according to a person familiar with the matter.
As China reopens its economy after months of lockdown, Apple Inc's iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.
General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
Nearly one in four U.S. adults said they have been laid off or furloughed during the coronavirus outbreak, yet a bipartisan majority of Americans wants businesses to remain closed to slow the spread of the deadly virus despite its impact on the economy, according to a Reuters/Ipsos poll.
Leading British fashion chain Next has bowed to pressure from workers worried about their health and shut its online business, cutting off its remaining source of revenue during the coronavirus outbreak.
Dallas Fed President Robert Kaplan on Friday said small businesses can expect to be able to borrow money backstopped by the Fed "very quickly" under a new program the U.S. central bank is readying to bolster firms hurt by the coronavirus epidemic.