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Airbus shedding 15,000 jobs, mostly in Europe

Airbus shedding 15,000 jobs, mostly in Europe

PARIS — European aircraft manufacturer Airbus said Tuesday it plans to eliminate 15,000 jobs over the next year, mostly in Europe, as it struggles with the financial hit of the coronavirus pandemic.
Cineplex looks to lure audiences back after collapse of Cineworld deal

Cineplex looks to lure audiences back after collapse of Cineworld deal

TORONTO — Cineplex is hoping moviegoers are willing to return to its theatres as the company deals with an uncertain future in the wake of its failed plan to sell itself to Cineworld.
EU bans Pakistan airline from flying to Europe for 6 months

EU bans Pakistan airline from flying to Europe for 6 months

ISLAMABAD — The European Union's aviation safety agency said Tuesday that Pakistan’s national airline will not be allowed to fly into Europe for at least six months after the country’s aviation minister revealed last week that nearly a third of Pakis

EasyJet may close 3 UK bases as it slashes staff

LONDON — Budget carrier easyJet may close bases at Stansted, Southend and Newcastle airports in England as it consulted with unions on steps to stay afloat amid the COVID-19 pandemic.

Shell takes $22 billion hit on lower oil, gas prices

LONDON — Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the COVID-19 pandemic.
US consumer confidence rises to 98.1 in June

US consumer confidence rises to 98.1 in June

WASHINGTON — U.S. consumer confidence rose in June, reflecting the partial re-opening of the country but the concern is that rising coronavirus cases in many states could jeopardize future gains.
Statistics Canada says economy posted record 11.6 per cent plunge in April

Statistics Canada says economy posted record 11.6 per cent plunge in April

OTTAWA — Statistics Canada says the economy saw its largest monthly drop on record in April as it came to a near standstill due to the pandemic, but early indications point to a rebound in May as businesses began to reopen.
McDonald's Canada names Jacques Mignault as new CEO, John Betts retiring

McDonald's Canada names Jacques Mignault as new CEO, John Betts retiring

TORONTO — McDonald's Canada says Jacques Mignault has been appointed as its next president and chief executive, effective Aug. 1. Mignault has been serving as the managing director of McDonald's Switzerland. He succeeds John Betts, who is retiring.
Kim Kardashian West sells stake in beauty brand for $200M

Kim Kardashian West sells stake in beauty brand for $200M

NEW YORK — Kim Kardashian West is selling a stake in her beauty brand for $200 million, in a deal that values the TV reality star's three-year-old business at $1 billion. The buyer is Covergirl owner Coty Inc.
Cineplex loses $178.4M in first quarter as revenues plunge with theatre closures

Cineplex loses $178.4M in first quarter as revenues plunge with theatre closures

TORONTO — Theatre operator Cineplex Inc. says the COVID-19 pandemic has had a "material negative effect" on its operations and resulted in a $178.4-million loss in the first quarter. The Toronto-based company says in delayed results that it lost $2.