Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
For the over-ambitious airline’s bondholders, investors and lessors, survival means the lesser of two evilly large losses
As one of Norway’s greatest exports, A-ha, put it, in their classic 1980s hit Take on Me, it’s no better to be safe than sorry. This advice may appear ever more overwhelmingly wrong to those who bet their kroner on the vision of the two Bjorns, Kjos and Kise, the co-founders turned chief executive and chairman of Norwegian Air.
The pair wisely exited the scene last year after an extraordinary ride during which they turned Norwegian from a small local carrier into a global pioneer of low-cost, long-haul air travel, and eventually established bases all around Europe. With half an eye on transatlantic links and another on a booming short-haul operation, Norwegian became a dizzying array of subsidiaries whose complexity could not disguise the fact that it was heading for financial disaster.
Canberra’s call for an inquiry into the origins of Covid-19 sparked talk of boycotts from Beijing – but any such move could be harmful to both countries
The language of the diplomats and parliamentarians has been anything but diplomatic, and far from parliamentary. The robust conversations usually kept behind closed doors have tumbled into the public square, leaked to broadcasters and splashed in newsprint.
Donald Trump’s threats to reignite the US-China trade war over coronavirus has triggered another sell-off in global financial markets, as the economic costs of the pandemic continue to mount.
Against a backdrop of rising tension between the world’s two economic superpowers, share prices resumed a downward slide on Friday with the FTSE 100 falling by 144 points, or 2.5%, in London.
NHS launches inquiry after Guardian investigation exposes senior official trading protective gear amid pandemic
A head of procurement for the NHS has set up a business to profit from the private sale of huge quantities of personal protective equipment (PPE) in the midst of the coronavirus outbreak, an undercover investigation by the Guardian can reveal.
David Singleton, 42, a senior NHS official in London who has been working at the capital’s Covid-19 Nightingale hospital, launched the business two weeks ago to trade in visors, masks and gowns.
Migrant workers on Spanish farms that provide fruit and vegetables for UK supermarkets are trapped in dire conditions under lockdown, living in cardboard and plastic shelters without food or running water.
Thousands of workers, many of them undocumented, live in settlements between huge greenhouses on farms in the southern Spanish provinces of Huelva and Almeria, key regions for European supply chains.
Sydney aged care home reports 13th coronavirus-related death as three more residents test positive, while Tasmania to lift north-west lockdown. Follow live
Company reports $58.3bn in sales as CEO says China sales ‘headed in the right direction’ despite coronavirus
Apple reported sales and profits that beat Wall Street expectations on Thursday despite fallout from the coronavirus pandemic, with Tim Cook saying China sales were “headed in the right direction” as that country reopens.
But the CEO said it was impossible to forecast overall results for the current quarter because of uncertainty created by the virus.
Alabama company Dynetics also chosen for moon landing project, as three firms prepare to compete
Nasa has selected three private space companies to lead the development of lunar landers for its forthcoming moon landings.
The three companies are Blue Origin, owned by Amazon’s CEO, Jeff Bezos; Elon Musk’s SpaceX; and Dynetics, based in Huntsville, Alabama, Nasa announced on Thursday.
Shares in Zoom have dropped over 6% today, after the video-conferencing services admitted it wasn’t quite as popular as thought...
Zoom had initially said it had 300 million daily users, following the surge in remote working. But, it actually has 300 million daily meeting participants.
Zoom shares dropped more than 7% after the company walked back on claims it has 300 million daily active users. $ZM actually reached 300m daily participants, the difference being that meeting participants can be counted more than once.https://t.co/UIVYBP9sqt
‘Limited progress’ in bridging gaps on fisheries, health, environment and workers’ rights
The UK is still optimistic about striking a trade deal with the EU but warned that talks could collapse in June unless Brussels abandons its demands for a common fisheries policy and a level playing field, a source close to the UK’s negotiating team said.
The source said only “limited progress in bridging the gaps between us” had been made at last week’s talks, but there was “confidence that progress can be made quite quickly”.
Ratings agency says mining giant owned by Andrew ‘Twiggy’ Forrest’ wants to keep prices secret so it can charge more for its ore
Mining giant Fortescue Metals Group, controlled by billionaire Andrew “Twiggy” Forrest, has launched legal action to stop global ratings agency S&P publishing information about the price it charges for iron ore.
A UK court has ordered S&P to stop publishing the information, which Fortescue claims is confidential, but the ratings agency has hit back in a US court, accusing the miner of trying to keep prices secret so it can charge more for its ore.
Shares have soared on the world’s stock markets after investors shrugged off a deep slump in the US economy and pinned their hopes on a possible breakthrough in treatment for Covid-19.
Retail giants are set to rely more heavily on click and collect sales even as lockdown restrictions are eased, with the sector’s peak body cautioning against a rush to fully reopen bricks and mortar stores.
Paul Zahra, Australian Retailers Association (ARA) CEO, believes the shift towards delivery and kerbside pickup will leave a “legacy” in Australians’ shopping habits, and said one “fundamentally positive” impact of the pandemic has been that retailers traditionally reluctant to move online have now come on board.
Production will begin slowly with UK plants remaining shut until later in the spring
Ford said it would restart its main European car factories on Monday 4 May, but its UK plants in Dagenham and Bridgend will stay closed until later in the spring.
The US car giant, which closed its European and North American factories at the height of the coronavirus pandemic in mid-March, said production would begin slowly with strict standards on social distancing and safety precautions.
Kristina Kubiliene can ‘barely open her handbag’, allegedly as a result of working long hours
Victoria Beckham’s clothing brand is being sued by a pattern cutter who claims to have developed a serious hand injury that required surgery after working for up to 15 hours a day in the run-up to New York fashion week.
Kristina Kubiliene, 54, worked for Victoria Beckham Ltd at its London studio for nearly eight years and left last year after developing carpal tunnel syndrome, which left her barely able to open her handbag, her lawyer said.
Pandemic spotlights racial disparities, with black workers expected to feature disproportionately in the 26m recent unemployment claims
Just two months ago in the Cabinet Room of the White House, sitting at a table surrounded by a handful of his black supporters, Donald Trump once again praised his job creation record. “Black people right now are having the best, statistically, the best numbers that you’ve ever had, and it’s really an honor,” he said. “Nobody has done more for black people than I have. Nobody has done more.”
That was 27 February and Trump was also still claiming he had done an “incredible job” with the looming coronavirus pandemic. Now the virus has led 26 million Americans to file for unemployment. While the US Bureau of Labor Statistics will not release unemployment figures broken down by race until the beginning of next month, economists are certain that black Americans are suffering the brunt of Covid-19’s economic impact and will probably suffer the most dramatic consequences of the looming recession.
Wall Street has opened higher, despite the prospect of a sickening slump in growth this quarter.
The Dow Jones industrial average has gained 109 points, or 0.46%, to 23,884 as a new week’s trading begins.
Alexandra Scaggs of Barrons has spotted that General Motors’ banks pushed it to suspend its dividend (as flagged earlier).
so GM suspended its dividend & share buybacks
one interesting point that's not in the headlines: Banks wanted that as a condition for extending more credit to the company https://t.co/RWCWF4tvea
to me the press release reads like "hey we decided to stop doing these things"
and the filing reads like "our lenders asked us to stop doing these things before they would extend the repayment date on one of our loans" pic.twitter.com/wH5R4aCqDF
Airbus has warned its 135,000 employees that it may not survive the coronavirus lockdown unless it takes immediate action that may involve deeper job cuts.
Its chief executive, Guillaume Faury, told staff in a letter on Friday that the plane maker was “bleeding cash at an unprecedented speed”, and was considering all options as it waited to see how badly demand would be affected by the Covid-19 outbreak.
We thank Aged Care Minister Richard Colbeck and the Chief Medical Officer Prof. Brendan Murphy for joining the aged care industry in constructive dialogue in the national webinar, as we work together to care for and support vulnerable older Australians.
However, we impressed upon them that it is incorrect to characterise the sector as having kept residents isolated, under lock and key, in their rooms. Nor are they secret places.
Australia’s leading aged care providers have banded together to make a statement in response to what the prime minister and chief health minister had to say last week about opening up centres to visits, or face applying to the commonwealth to close.
Almost 1000 aged care providers have signed up to the statement, saying that some facilities made the decision to stop visitation because it was the only way to protect residents, with the decisions being made with “the support of the majority of residents and their families”.
Pressures on aged care workers will further intensify from the major costs of controls and resources needed to continue protecting aged care residents and to allow the safe access for visitors that has been stipulated - but there has been little additional support from Government to achieve this.
The funding provided that equates to an average of $2 per resident per day is not enough for aged care operators to keep winning the fight to keep coronavirus out of aged care homes.
As the prime minister, Boris Johnson, heads back to Downing Street, he faces calls from Labour to be clearer about how Britain might start lifting the coronavirus lockdown, now entering its fifth week. On Sunday, the foreign secretary and first secretary of state, Dominic Raab, warned the outbreak remained at a “delicate and dangerous” stage and said it was irresponsible to speculate about steps to modify the rules underpinning government’s “stay home, protect the NHS, save lives” strategy.
More than 20,000 people have died from Covid-19 in NHS hospitals and thousands more in care homes. But there are growing concerns about the economic impact of lockdown. Gerard Lyons, Johnson’s economics adviser when he was London mayor, warned on Sunday the UK could be the hardest-hit western economy if it does not unlock soon. The Labour leader, Keir Starmer, also called on ministers to start talking to teachers, businesses, trade unions and town hall leaders and open “honest conversations with the public about what new arrangements might look like”. Unions insist worker safety must not be compromised by any changes and questions remain about public appetite for risking a new peak of contagion, but plans to modify restrictions are starting to emerge.