# finance

Aircrafts of German airline Lufthansa are seen at "Franz-Josef-Strauss" airport in Munich, southern Germany, on June 25, 2020, amid the novel coronavirus Covid-19 pandemic. - German airline Lufthansa was poised to clear a key shareholder vote on its nine billion euro ($10 billion) state rescue on June 25, 2020, boosted by the EU's green light and the last-minute backing of a billionaire investor who had the power to veto the plan. (Photo by Christof STACHE / AFP)
Aircrafts of German airline Lufthansa ar […]

Aviation, automobiles and other virus victims

The COVID-19 pandemic has devastated several industries, from aviation and automobiles to retail and energy. Who are the major casualties, amid all the layoffs, bankruptcies and rescue plans?
A shopper walks past a sign reading "Welcome Back" in the window display of a re-opened Zara shop in Grafton Street in central Dublin, Ireland on June 8, 2020, as lockdown measures are eased during the novel coronavirus COVID-19 pandemic. - Stores and some offices reopened on Monday in Ireland, as the government decided to speed up deconfinement due to progress in fighting the coronavirus Covid-19 pandemic in the country. (Photo by PAUL FAITH / AFP)
A shopper walks past a sign reading "Wel […]

Down but not out: crisis puts the brakes on fast fashion

Zara, H&M and Gap may be reopening their stores but the coronavirus has had a devastating impact on the fast fashion sector, which needs a radical overhaul if it is to recover, experts say
The aerial view shows parked airplanes at the airport Duesseldorf, western Germany, on May 8, 2020. (Photo by Ina FASSBENDER / AFP)
The aerial view shows parked airplanes a […]

Airlines hit wall of debt after COVID-19 grounding

The coronavirus has forced many airlines to ground their fleets and appeal for state assistance but experts fear these carriers are now weighed down by debt ahead of a return to normal service
(FILES) In this file handout photo and released by Airbus on May 29, 2019 shows Airbus commercial aircrafts on the tarmac in Toulouse as the company is celebrating its 50th anniversary. - French entrepreneur Didier Cauquil walks, concerned, through the aisles of his factory where only six machines out of 32 operate: the crisis in the aeronautical sector has brought the company to its knees, which manufactures parts near Toulouse, the headquarter for Airbus. (Photo by Jean-Vincent Reymondon / Airbus / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / AIRBUS/ MASTER FILMS/ JEAN-VINCENT REYMONDON" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS
(FILES) In this file handout photo and r […]

France pledges 15 bn euros of aid for aviation sector

France has pledged 15 billion euros ($16.9 billion) for the country's aviation industry, where thousands of jobs are on the line as the coronavirus crisis hammers the travel industry
A person wearing a protective face mask walks by the EU Commission building bearing a banner that reads "Coronavirus Global Response" in Brussels on May 6, 2020, as the country is under lockdown to stop the spread of the Covid-19 pandemic caused by the novel coronavirus. (Photo by Kenzo TRIBOUILLARD / POOL / AFP)
A person wearing a protective face mask […]

Europe’s ‘historic’ recession threatens eurozone survival

The EU has forecast that the eurozone economy will contract by a staggering 7.7 percent in 2020, warning the wreckage from the coronavirus outbreak could endanger the single currency
German Finance Minister Olaf Scholz gives a press conference after the negotiations of the Eurogroup. Photo: Michael Kappeler/dpa +++ dpa-Bildfunk +++
German Finance Minister Olaf Scholz give […]

EU ministers call on banks to refrain from paying out dividends

The economy and finance ministers of the European Union member states, as well as the European Commission, are looking for effective measures to help Europe's economy that is hit hard amid the coronavirus pandemic crisis.