Boeing confirmed it was eliminating more than 12,000 US jobs, including 6,770 involuntary layoffs, as the largest US planemaker restructures in the face of the coronavirus pandemic. Boeing also disclosed it plans several thousand remaining layoffs in the coming months but did not say where those would take place.
Brazil's President Jail Bolsonaro railed against the country's lockdown on Sunday in a speech to thousands of anti-confinement demonstrators as the number of confirmed COVID-19 infections passed 100,000, with more than 7,000 deaths.
The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only “weigh heavily” on the near-term outlook but poses “considerable risks” for the medium term as well.
Brazil's largest city of Sao Paulo began fifteen days of lockdown to fight the spread of the coronavirus on Tuesday. This after Brazil's own president, Jair Bolsonaro, has faced fierce criticism for his blasé treatment to combat the threat, which he describes as a quote “little flu.”
British Steel, the country’s second-largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound (US$ 38 million) loan, two sources close to the situation said.
The European Parliament has approved new EU rules to protect workers in the so-called gig economy(*). The law sets minimum rights and demands increased transparency for those in on-demand jobs, such as at Uber or Deliveroo.
The number of United States citizens filing applications for unemployment benefits fell to more than a 49-year low last week, but the drop likely overstates the health of the labour market as claims for several states including California were estimated.
The US economy created many more jobs than expected in December, according to the latest government data. Employers added 312,000 jobs, far ahead of predictions of 177,000, the Labor Department said.
Brazil's unemployment rate dipped slightly in July, as expected, extending a slow and bumpy labor market recovery as pivotal presidential elections loom.
A group of Venezuelan migrants has returned home from Peru at the expense of Nicolas Maduro's government. Facing an exodus from Venezuela, Maduro had proclaimed his countrymen “won't be slaves to anyone in the world.”