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Economy & Business

AIRLINES

Scandinavian SAS main shareholders approve new recapitalization plan

The Nomad Today/dpa 9/22/20

The plan, worth about 14 billion kronor (1.34 billion euros), includes the directed issue of shares to the main shareholders and the issue of new shares.

Spanish Minister of Economic Affairs Nadia Calvino, prior to the start of the EU Informal Meeting of Ministers for Economic and Financial Affairs. Photo: Hannibal Hanschke/REUTERS/POOL/dpa

FINANCE

Spain's Caixabank and Bankia boards approve merger

The Nomad Today/dpa 9/18/20

With a total domestic balance sheet total of almost 564 billion euros, the new bank would be ahead of the previous number one, BBVA .

RECESSION

OECD moderates forecast for economic damage from coronavirus

The Nomad Today/dpa 9/16/20

The intergovernmental think tank said its projections assumed that sporadic local outbreaks will continue, but that they would be addressed by targeted local measures rather than the national…

FILED - 04 July 2011, Baden-Wuerttemberg, Karlsruhe: Euro coins lie on a Euro flag. The rate of inflation in the 19 countries of the eurozone recuperated slightly to 0.4 per cent in July, according to a first estimate from EU statistical office Eurostat. Photo:Uli Deck/dpa.

Eurozone inflation falls into negative territory, unemployment rises

The Nomad Today/dpa 9/1/20

15.2 million people in the EU, including 12.8 million in the euro area, were out of work in July. Women in the eurozone were hit slightly harder on the labour market.

Yellow stripe is painted in the middle of a pedestrian street to help people comply with the social distance guidelines related to the coronavirus disease (COVID-19) situation in Aalborg, Denmark May 4, 2020. Henning Bagger/Ritzau Scanpix/via REUTERS

RECESSION WORSENING

Denmark expects economy to contract 4.5% this year

The Nomad Today/dpa 9/1/20

The gross domestic product (GDP) is, however, expected to grow by 4.2% next year.

FILED - 27 April 2019, Spain, Palma: A Norwegian plane takes off from Palma airport. Low-cost airline Norwegian Air Shuttle plans to cancel thousands of flights due to the spread of the coronavirus. Norwegian Airlines called for additional financial aid on Friday, saying it would not survive into 2021 due to huge losses stemming from the coronavirus pandemic. Photo: Clara Margais/dpa.

Norwegian airline calls for more financial aid due to pandemic

The Nomad Today/dpa 8/28/20

The number of passengers declined by 71% and 8,000 employees have been furloughed or laid off.

FILED - 16 February 2014, Berlin: An Airbus aircraft of the Scandinavian Airlines SAS lands at Tegel Airport. SAS recorded huge losses in the last quarter due to the collapse of air travel demand during the coronavirus pandemic, the Scandinavian airline announced on Tuesday. Photo: Bernd von Jutrczenka/dpa.

Scandinavian airline SAS suffers massive loss due to pandemic

The Nomad Today/dpa 8/25/20

The number of passengers declined by 86% in the quarter between May and July, the airline said.

FILED - 10 August 2020, US, Chicago: An undated picture of Steve Easterbrook, then CEO of McDonald's Corp., greets people during the grand opening of McDonald's new headquarters in Chicago's Fulton Market district. McDonald's is suing its former chief executive Stephen Easterbrook for allegedly lying to the company about sexual relationships with staff, according to public filings on Monday. Photo: Stacey Wescott/dpa.

McDonald's sues former CEO for lying about sex with staff

The Nomad Today 8/11/20

Evidence shows he had physical sexual relationships with three employees.

Toyota expects 64% fall in annual net profit amid pandemic

The Nomad Today 8/6/20

The best-selling car brand in Finland saw sales down by 40.4%.

Sweden's GDP fell by record 8.6% despite not adopting strict lockdown

The Nomad Today 8/5/20

The eurozone's economy plunged by an average 12.1% in the same period.

Online retailer Amazon prepares launch in Sweden

The Nomad Today 8/5/20

The retailer has been one of the big winners during the coronavirus pandemic.

England, London: A general view of HSBC Tower the international headquarters of the bank HSBC (Hong Kong & Shanghai Banking Corporation Holdings PLC) in the financial district Canary Wharf. Banking giant HSBC on Monday reported a 69-per-cent drop in profit after tax for the first half of the year. Photo: Jens Kalaene/dpa.

HSBC profit plunges by 69% in first half of 2020

The Nomad Today 8/3/20

The bank is moving ahead with plans to reduce its workforce from 235,000 to about 200,000 in the coming 3 years.

RECESSION

Eurozone GDP plummets by record 12.1% in second quarter

The Nomad Today 7/31/20

The sharp decline reveals the damage sustained during three months that saw most of Europe shutter shops, restaurants and factories.

Volkswagen Group reports 1.4-billion-euro loss in first half of 2020

The Nomad Today 7/30/20

Management are seeking to reduce a dividend proposed last year.

Huawei overtakes Samsung as world's smartphone leader

The Nomad Today 7/30/20

It is the first time a company other than Apple or Samsung has dominated the market in nine years, according to a research.

A crew member on board a Ryanair plane. Photo: Ryanair.

Ryanair sinks into the red

The Nomad Today 7/27/20

More than 99% of its fleet was grounded from mid-March to the end of June amid travel bans introduced across Europe due to the pandemic.

BUSINESS

Gold price hits record high

The Nomad Today 7/27/20

Global economic uncertainty due to the pandemic and renewed tensions between China and the United States prompted a flight to safe haven assets such as gold and the Japanese yen.

Pandemic hits Volvo Cars hard

The Nomad Today 7/22/20

The company said it sold 269,962 cars in the January-June period, compared to the 340,826 cars it sold in the same period last year.

US, Atlanta: US President Donald Trump gives the crowd a fist pump as he arrives to talk about an infrastructure overhaul at the UPS Hapeville hub in Hartsfield-Jackson International Airport. Photo: Curtis Compton/dpa.

ENERGY

US threatens new sanctions against Russian energy pipelines to Europe

The Nomad Today 7/16/20

Nord Stream 2, to span the Baltic Sea from western Russia to northern Germany, is to double the capacity of the eponymous Nord Stream pipeline already in operation.