Category: Business

Swedish-Danish SAS (SAS.ST) said on Wednesday that a growing number of bondholders had indicated they backed the debt to equity conversions needed for the airline to move ahead with recapitalisation plans to see it through the pandemic. The airline, part-owned by the governments of Sweden and Denmark, is looking to drum up support among bondholders […]

Colonial Pipeline, the largest refined products pipeline in the United States, will continue normal operations as Hurricane Laura heads toward the U.S. Gulf Coast, the pipeline company said on Wednesday. The company, though, will evacuate impacted facilities on Wednesday to comply with mandatory evacuation orders in Texas and Louisiana, it said. A half a million […]

After a nearly two-year review, U.S. Federal Reserve officials feel they’ve hit on a better way to meet their key goals of steady inflation and maximum employment. On Thursday, Fed Chair Jerome Powell begins what may be the tougher task: convincing the public that the central bank can and will deliver in the wake of […]

President Donald Trump is weighing executive action to avoid massive layoffs at U.S. airlines if Congress fails to agree a fresh coronavirus stimulus package, White House Chief of Staff Mark Meadows said on Wednesday. His remarks came a day after American Airlines (AAL.O) said its workforce will shrink by 40,000, including 19,000 involuntary cuts, in […]

The U.S. Securities and Exchange Commission (SEC) on Wednesday adopted changes to its decades-old definition of a professional investor in order to allow more everyday Americans to buy shares in private companies, and eased come company disclosure rules. The agency said it hopes the changes to its “accredited investor” definition will boost retail investors’ access […]

Pilots from Boeing Co (BA.N) and Transport Canada were set to take off on Wednesday morning on a flight test of the 737 MAX jetliner, grounded worldwide after two fatal crashes, according to one industry source and FlightAware data. The test of safety upgrades comes roughly two months after another flight evaluation by the U.S. […]

Norwegian oil and gas firm Equinor is set to cut jobs significantly in the United States, Canada and Britain to adjust to a fall in oil prices, a company spokesman said on Wednesday. The group plans to cut employee numbers in those countries by about 20% and contractor numbers by around half to ensure profitability […]