As the COVID-19 pandemic continues to wreak havoc on a global scale, Virgin Atlantic became the latest victim with the UK-based airline filing for bankruptcy in the US and seeking protection of assets under Chapter 15. Earlier on in the year, Virgin Group’s Richard Branson had injected $200 million in a bid to rescue the […]
Amid growing concerns and the need to safeguard an already shaken US economy, shoppers in upstate New York on Sunday were in shock and awe as one of the most iconic luxury department stores, Lord and Taylor, had filed for bankruptcy. Founded by two English immigrants, the brand has been renowned over the years for […]
The tourism industry has borne the worst of the COVID-19 pandemic with lockdowns and travel restrictions preventing people from traveling. Many travel-loving people who had booked holiday trips have had to cancel their much-anticipated plans. But amid the disappointment and lost business, there might be a silver lining. The general feeling among many people is […]
After what most people expected to be the most devastating quarter in the history of the energy sector, Total SE and Royal Dutch Shell can breathe a sigh of relief. What saved the day are their massive trading operations. According to the oil giants, investors already had warnings that the COVID-19 epidemic would devastate nearly […]
On Monday, Senate Republicans officially unveiled their $1 trillion stimulus proposition. This proposal includes a $400 slash in improved unemployment benefits and is basically an opening bid during bipartisan talks with Democrats. In the meantime, Congress is scrambling to respond to both the public health and financial repercussions of the coronavirus. While on the floor […]
A few months ago, overnight train services in Europe were nothing to write home about, their promise of adventure and romance notwithstanding. But this seems to have changed overnight. And of all the reasons to thank for this resurgence in business, COVID-19 is responsible. Six years ago, German rail operator Deutsche Bahn terminated the Paris-Berlin […]
As the coronavirus pandemic continues its run of horror, people in the developing nations of the world are bearing the greatest brunt of the epidemic. On that note, the United Nations Development Programme is calling for a program that introduces a temporary basic income to cushion the poorest people in the world. According to the […]
After days of an agonizing stalemate, European leaders reached a consensus on Tuesday morning regarding a vast financial rescue package for their countries. The talks had been impeded by opposition by a few rich northern nations about the scope of the package and the accompanying regulations. After the marathon discussions spanning five days, the leaders […]
In some cases, distancing yourself from the source of trouble is the only way to survive. TikTok could cut ties with its Chinese parent company to avoid being banned in the United States. According to a White House economic advisor, Larry Kudlow, the social media platform that been a hit with young people could survive […]
Trouble linked to COVID-19 is brewing between Japan and U.S military bases in the Asian country. According to Japanese authorities, over 60 people in three U.S military bases have tested positive for the virus. This number includes 23 at Camp Hansen and 38 at the Marine Corps Air Station in Futenma. There are over 25,000 […]