Exclusive: Airbus to be ‘resized,’ could cut output again – sources


PARIS (Reuters) – Planemaker Airbus (AIR.PA) has told senior staff the company must be “resized” in plans to be set out around end-June and is ready to cut jet production again to tackle any second wave of the coronavirus crisis, people briefed on the matter said.

FILE PHOTO: The logo of Airbus is pictured at the entrance of the Airbus facility in Bouguenais, near Nantes, France April 27, 2020. REUTERS/Stephane Mahe

Chief Executive Guillaume Faury told Airbus bosses to “face reality” in a briefing on Thursday on the crisis, which has idled an estimated 14,000 jetliners or two

Read More

Boeing, Workday, Toll Brothers and more


Construction workers build a Toll Brothers home in Boca Raton, Florida.

Joe Raedle | Getty Images

Check out the companies making headlines after the bell.

Virgin Galactic Holdings — The aerospace company’s stock fell 3% in extended trading after fellow space travel company SpaceX had to delay its historic astronaut launch with NASA because of bad weather. It was the first time since 2011 that NASA astronauts were set to travel to space from the U.S. Both Virgin Galactic and SpaceX are looking to expand space travel to include tourists. 

HP — The technology company’s stock fell 4% in extended

Read More

Republican senators push for billions in additional airline job aid as coronavirus continues to hit demand


A United Airlines ticketing agent checks the mobile device of a passenger as he tries to check in for a flight in the main terminal of Denver International Airport.

David Zalubowski | AP

Sixteen Republican senators on Wednesday backed $25 billion in additional federal aid for airline industry jobs as a spike in coronavirus cases in the U.S. hurt a modest recovery in flight demand in recent weeks.

The new support increases the likelihood that the funds get included in the next big aid package to help the U.S. weather the impact of the pandemic. More than 200 House lawmakers

Read More

Oil prices fall as U.S. inventory build-up heightens oversupply concerns


TOKYO (Reuters) – Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears.

General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, U.S., March 30, 2020. REUTERS/Mike Segar REFILE – CORRECTING REFINERY NAME

Oil prices are near their lowest since 2002 amid the global coronavirus crisis that has brought a worldwide economic slowdown and slashed oil demand. Crude futures ended the quarter down nearly 70% after record losses in March.

As of

Read More