Spain sets aside another $56 billion for ailing companies

A group of women walk past beside a man seated while wearing face mask to prevent the coronavirus during the last day of the lockdown, in Pamplona, northern Spain, Saturday, June 20, 2020. (AP)  MADRID  — The Spanish government announced Friday it is making available another 50 billion euros ($56 billion) in aid for companies […]

Virus-hammered Air France announces 7,500 job cuts

Air France workers gather during a protest in front of the company headquarters in Tremblay-en-France, outside Paris Friday, July 3, 2020. (AP) PARIS  — Air France and regional subsidiary Hop announced 7,500 job cuts Friday after the virus pandemic grounded most...

Gov’t guarantees P37.5B in bank loans to SMEs

In its bid to make available loans to small businesses badly hit by the COVID-19 crisis, the state-run Philippine Guarantee Corp. (Philguarantee) has green-lit P37.5 billion in credit guarantees as of end-June. Philguarantee said the total credit guarantee facilities...

3rd telco gets 6-month reprieve on commitments

Telco startup DITO Telecommunity is catching up to meet its commitments to the government after plans were derailed by the new coronavirus pandemic. Citing the health crisis, DITO sought and obtained an extension of the July 8, 2020, deadline for a technical audit...