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BERLIN: Europe’s economy risks losing out on a massive dose of stimulus from its consumers.
Flights will resume to destinations in Europe, including London, Paris and Brussels, as well as Tel Aviv.
FRANKFURT: Germany’s bank lobby is set to urge the government to drop some of the conditions attached to a trillion euro rescue scheme, arguing that companies are so reluctant to take the help that it threatens any recovery from the coronavirus outbreak.
PARIS: The French government’s rescue plan for the struggling aerospace industry includes billions of euros in financial aid for suppliers hit by the Covid-19 pandemic.
HONG KONG: Cathay Pacific Airways Ltd has outlined a plan to raise HK$39bil (US$5bil) from the Hong Kong government and shareholders after months of warnings about the frailty of its business because of Covid-19 travel restrictions.
HONG KONG/SYDNEY (Reuters): Cathay Pacific Airways Ltd revealed on Tuesday (June 9) the Hong Kong government will lead a recapitalisation plan worth HK$39 billion ($5 billion) to help it through the coronavirus pandemic, the latest public rescue for a troubled airline.
LONDON: British Airways is battling its pilot union that’s pushing back on further job cuts as the carrier initiates the legal process to block the UK’s 14-day self-isolation plan for arrivals starting today.
BANGKOK (AP): Factories and stores are reopening, economies are reawakening - but many jobs just aren’t coming back. From restaurants in Thailand to car factories in other parts, many livelihoods have fell victim to a virus-driven recession that’s accelerating decline in struggling industries.
Europe’s airlines aren’t all made equal. German flag carrier Deutsche Lufthansa AG will receive a 9bil (US$10bil) bailout and it was obliged to offer only limited concessions to Brussels in return.
BERLIN: Chancellor Angela Merkel’s coalition agreed on a sweeping 130bil (US$145bil) stimulus package designed to spur short-term consumer spending and get businesses investing again.