Industries Markets National

American Airlines to employees: Expect layoffs and 20% pay cuts, and that’s if AA gets bailout

Flight cancellations are skyrocketing, the biggest U.S. airlines are internally thinking about a voluntary shutdown of all passenger flights across the U.S. and on the remaining flights that are still operating, it’s not uncommon to have only a handful of passengers. In this economy (if we can call it economy) some airlines are burning $50M […]

Eurozone Markets National CEO in the letter to employees:”It is going to get worse before it gets better”.

Booking Holdings (NASDAQ:BKNG) one of the largest online travel agencies (OTA) and second biggest in U.S. market after Expedia, is taking the measures to save cash during the travel meltdown caused by coronavirus outbreak. In the Letter to employees from March 23, 2020 Booking CEO Glenn Fogel talks about cutting non-essential business travel, implementing a […]

Industries Investments Markets National

NexTier Oilfield Solutions to cut its capital spending 50%, due to difficult market conditions

HOUSTON, March 23, 2020 / — NexTier Oilfield Solutions Inc. (NEX) today announced several immediate strategic actions being taken in response to current market conditions to prioritize financial strength and cash flow, including a significant reduction in its 2020 capital expenditures program and additional streamlining of its cost structure. NexTier is taking actions to significantly […]

Americas Industries Markets National

Royal Caribbean not waiting for a bailout, secures $2.2B loan from J.P. Morgan, BofA,BNP and Goldman Sachs

MIAMI, March 23, 2020 /PRNewswire/ — Royal Caribbean Cruises Ltd (NYSE: RCL) today announced that it has entered into a $2.2 billion 364-day secured term loan facility, further enhancing the company’s liquidity position. The facility can be extended at the company’s option for an additional 364 days. The company has borrowed the full amount available […]

Healthcare Markets National

CEO of 3M:” more than 500,000 respirators are on the way to NYC and Seattle”

Maplewood based 3M says it has ramped up its production of N95 respirators to 35 million per month in the United States, 90 % of which are designated for healthcare workers. Worldwide, 3M says it has doubled its global output of the N95 respirators of more than 100 million per month. Below is the statement […]

Entrepreneurs Industries Investments Markets National

Warren Buffett now owns 10% of Delta Air Lines, United,American and Southwest. So why would they need a bailout?

According to recent filings with the Securities and Exchange Commission, Warren Buffett’s Berkshire Hathaway holds a big chunk in several airlines: more than 50 million shares of Southwest , 42 million shares of American Airlines Group, 21.9 million shares of United Airlines, and 71.8 million shares of Delta Air Lines after buying almost a million […]

Americas Idaho Markets National

How to get a refund from Expedia if your trip or flight was cancelled due to coronvirus?

Well that seem to be a $64,000 question since millions of bookings got cancelled in the last 2 months. Since coronavirus came to the Western Hemisphere many hotels, rentals and trips got cancelled due to coronavirus. What to do and what is the best way to get your refund from sites like Expedia or Booking. […]

Idaho Markets National

Oregon marijuana sales 420% stronger near Idaho

A new report by Oregon Office of Economic Analysis finds marijuana sales are strongest along Oregon’s border with Idaho – a state where recreational marijuana is not legal. It is unsusprising to find that in neighboring states Oregon and Washington (where recreational use of the substance is legal), sales along the Idaho border are much […]

Idaho Markets

Idaho’s unfilled STEM jobs double in three years

BOISE, Idaho (Jan. 13, 2020) — The number of unfilled STEM jobs in the state continues to grow, according to the Idaho STEM Action Center’s budget request presentation before the state Legislature’s Joint Finance Appropriations Committee today. However, agency officials said the number of computer science teachers and students grew dramatically over the last year. “The number […]

Asia Markets National

Gold surged to a 7 year maximum due to the killing of Soleimani

The price of gold jumped to its highest level for the first time in seven years (since 2013). Gold now costs $1588.13 per ounce (28 grams). The price of palladium also increased – it reached a record $2,027.91 per ounce. The Bloomberg, citing Goldman analysts, writes that the price of gold can rise even more. […]