Month: April 2020

Boeing Co (BA) on Thursday announced the rollout of a voluntary layoff plan for employees as the embattled global aerospace industry is facing a long lasting impact from the coronavirus pandemic.Under the terms of the plan, eligible employees who want to leave the company will be offered pay and benefits packages, Boeing chief executive officer Dave Calhoun said in a memo to more than of its 153,000 employees. Details of the plan are expected to be disclosed over the coming three to four weeks. The move aims to stave off additional workforce actions, Calhoun explained.“We’re in uncharted waters. We’re taking …read more […]

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U.S President Donald Trump said on Thursday he had brokered a deal with top oil producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid a global coronavirus pandemic, sending crude prices up by 45%. Trump said he spoke with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman, and now expected the two nations to cut output by 10 million barrels per day (bpd) – an unprecedented number representing 10% of global supply. Trump said cuts could amount to as much as 15 million bpd but didn’t say whether the …read more […]

Shares plummet 80% for China’s coffee giant Luckin Coffee after an investigation found that the company’s COO fabricated sales. Yahoo Finance’s On The Move panel discusses. …read more […]

(Bloomberg) — Boeing Co. is offering employee buyouts and weighing additional savings measures such as new output cuts, as the coronavirus pandemic threatens to depress aircraft sales for years.While the company has yet to alter production plans, it’s taking a closer look at manufacturing rates for wide-body jets amid plunging demand, said a person familiar with the matter. Boeing was already planning to make fewer 787 Dreamliners this year, and is still assessing the rapidly changing market and public health issues as the outbreak guts travel demand and batters airlines.“When the world emerges from the pandemic, the size of the …read more […]

New York Governor Cuomo believes rapid tests could be the answer to get people back to work while still managing the coronavirus pandemic …read more […]

The stock market is as volatile as ever, but McDonald’s stock is one of the safest bets you can make. The fast food giant is in a position to weather the coronavirus storm and come out stronger on the other side. Their competitors, on the other hand, may begin to fall further behind.
McDonald’s (NYSE: MCD) has put in place a strategy that protects its customers and significantly scales back its operations. However, it also safeguards the company and its franchisees against the economic downturn due to COVID-19. Learn why McDonald’s is best positioned in the fast food industry once again.

McDonald’s …read more […]

Luckin Coffee’s board alleges the COO and others booked $310 million in fabricated transactions. …read more […]

Jeffrey Kleintop, Charles Schwab Chief Global Investment Strategist, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss the coronavirus impact on the economy. …read more […]