Britain’s Unite union called the measures “industrial vandalism.” France’s hard-left Force Ouvriere union and others said they would oppose mandatory cuts.There was immediate political pushback in France, where the government of President Emmanuel Macron this month announced a 15-billion-euro support package for aviation.”The number of job cuts announced by Airbus is excessive. We expect Airbus to fully use instruments put in place by the government to reduce job cuts,” a finance ministry source said.Airbus refused to exclude sackings, but said it would first seek voluntary departures, early retirements and other measures. It wants to start implementing cuts this autumn and complete them next summer – a brisk deadline for such plans in Europe.Chief Executive Guillaume Faury said the company had been left with no choice by the dire industry crisis.”It is the reality we have to face and we are trying to give a long-term perspective to Airbus,” he told reporters.Production outlookAirbus said in April it was reducing output by a third, but has raised that to 40% as it presses the case for job cuts. Sources say the discrepancy reflects different ways of measuring output on a weighted basis, rather than an immediate new cut.”We think we are rather stable now and there will be minor adjustments as we have in normal times,” Faury told Reuters.But he added, “minor changes can be bigger than seen in past because there is more volatility in the market.”Exceptional secrecy had surrounded the politically sensitive restructuring affecting jobs in Britain, France, Germany and Spain, the company’s key backers in a fierce contest with US rival Boeing for orders and industrial clout.About 37% of the 135,000-strong Airbus workforce is due to retire this decade, led by veterans of its best-selling A320.Boeing is cutting over 12,000 US jobs, including 6,770 involuntary layoffs, after the pandemic compounded woes caused by the 15-month-old grounding of its 737 MAX.Airbus’ programs chief said it was slowing a push into after-sales services while maintaining a strategy of diversifying into the high-margin area.Some industry sources say Airbus has all but abandoned a goal of more than doubling services revenue to $10 billion this decade and transferred some staff to other roles. “It’s going to be a mighty battle to save jobs,” said Francoise Vallin of the CFE-CGC union.Europe’s biggest aerospace group said it would cut 5,000 posts in France, 5,100 in Germany, 900 in Spain, 1,700 in the UK, and 1,300 elsewhere by mid-2021, for a core total of 14,000.The broader tally includes another 900 job cuts planned before the crisis at its Premium AEROTEC unit in Germany.On June 3, Reuters reported reduced jet output pointed to cuts of 14,000 full-time posts. Earlier on Tuesday, French union sources predicted 15,000 cuts in total. Airbus is cutting 15,000 jobs within a year, including 900 already earmarked in Germany, saying its future is at stake after the coronavirus outbreak paralyzed air travel.Airbus is moving swiftly to counter damage caused by a 40% slump in its 55-billion-euro ($61.8 billion) jet business following the pandemic, balancing belt-tightening against aid offered by European governments and future priorities.But it faces tough talks with governments as well as unions, which immediately pledged to fight compulsory redundancies. A 2008 restructuring triggered rare strikes and protests. Topics :
The US dollar slightly extended losses against the yen and euro while the S&P 500 index edged higher after the release of the minutes.Outlook uncertainThe Fed has repeatedly said the US economic outlook remains highly uncertain and reiterated that a full economic recovery hinges on the battle to control the spread of the novel coronavirus, which has killed more than 127,000 people in the United States.Since the meeting, a surge in US infections has led several policymakers to warn that signs of a nascent economic recovery over the last few weeks could already be under threat as hard-hit states halt or reverse the re-opening of their economies.The US economy slipped into recession in February and economic output and employment are still far below pre-crisis levels despite a rebound as restrictions were eased. More than 30 million people were receiving unemployment checks in the first week of June, about a fifth of the labor force.At last month’s policy meeting, the Fed signaled it planned years of extraordinary support for the economy, with policymakers projecting the economy to shrink 6.5 percent in 2020 and the unemployment rate to be 9.3 percent at the end of the year.In addition to slashing interest rates, the central bank has also pumped trillions of dollars into the economy to keep credit flowing to businesses and households.Americans’ anxieties over the spread of the coronavirus are at the highest level in more than a month, a Reuters/Ipsos poll showed on Wednesday, a day after the United States recorded the biggest single-day rise in new cases since the pandemic began. Federal Reserve policymakers are looking at reviving a Great Recession-era promise to keep interest rates low until certain conditions are met, in a bid to deliver a more rapid recovery from the recession triggered by the coronavirus pandemic.The policymakers “generally indicated support” for tying rate-setting policy to specific economic outcomes, minutes from the US central bank’s June 9-10 policy meeting showed on Wednesday. “A number” favored a promise to leave rates low until inflation meets or even modestly exceeds the Fed’s 2 percent goal.A couple of policymakers preferred tying changes to rates to a specific unemployment rate; a “few others” wanted to promise easy monetary policy until a specific date in the future – an approach the Fed used effectively in 2012 and 2013. Topics : Although two warned of the danger of adopting any such policy, citing financial stability risks, the minutes showed that policymakers overall supported giving the public more explicit forward guidance, both for rates and bond purchases, “as more information about the trajectory of the economy becomes available.”The readout showed much less support, and many questions, about alternate forms of support including control of the yield curve, a strategy in use by other central banks around the world.Fed officials anticipate the United States will suffer the worst economic downturn since World War Two, and they have no intent to let up on providing stimulus for the foreseeable future.“Members noted that they expected to maintain this target range until they were confident that the economy had weathered recent events and was on track to achieve the (rate-setting) Committee’s maximum-employment and price-stability goals,” the Fed said in the minutes.
The government’s move to establish a new COVID-19 response team to handle the impact the pandemic has had on health and the economy has come too late, as the coronavirus has spread rapidly and paralyzed economic activity, experts have said.Airlangga University (Unair) public policy expert Agie Nugroho Soegiono said the government’s decision to only now establish an integrated team was a consequence of its previous lack of urgency in dealing with the virus when it first spread across the country earlier this year.“The government also lacked transparency and was indecisive in terms of health protocols,” he said on Tuesday. “With this integrated team, all the planning and execution of programs regarding the handling of COVID-19 and economic recovery could go hand in hand as both will be handled under the same institutions with good coordination,” Coordinating Economic Minister Airlangga Hartarto, who acts as the response team’s chairperson, said in a press briefing.Head of the economic recovery task force Budi Gunadi Sadikin and head of the COVID-19 response task force Doni Monardo joined the team to coordinate and integrate the country’s policies on handling the pandemic. They will report to State-Owned Enterprises (SOEs) Minister Erick Thohir, the team’s executive chairperson.The response team comes as coronavirus infections continue to rise at a rapid rate nationwide. Indonesia recorded 1,906 new COVID-19 cases on Thursday, putting the total number of infections at over 93,600 from only two in early March, according to official data. The death toll jumped to 4,576 with 117 new fatalities on Thursday.The pandemic has battered economic activity as shops, offices and factories are forced to close or limit operations to contain the virus. The Indonesian economy grew 2.97 percent in the first quarter from 5.02 percent in 2019 and is expected to shrink by over 5 percent in the second quarter due to the pandemic.The government has allocated Rp 695.2 trillion (US$47.55 billion) in state budget funds to strengthen the healthcare system and boost economic recovery.Latif said he expected the government to have better coordination now that there was a clear order of command.When the virus began spreading in the country, government officials had shown a lack of coordination in handling the pandemic. When the Jakarta administration was planning to suspend intercity and interprovincial buses services in late March to curb contagion, for instance, then-acting transportation minister Luhut Pandjaitan blocked the plan.In another case, the Industry Ministry issued its own coronavirus guidelines that allowed factories to open even though the Quarantine Law stipulated a suspension of workplace activities.A member of the House of Representatives Commission IX overseeing health care and manpower, Netty Prasetiyani, asked the government to create more robust health policy on handling the virus.The government, she said, had been favoring the economy over public health.“It’s not surprising at all. The budget for the country’s COVID-19 response is being [allocated] half-heartedly. As a result, hospitals are overwhelmed and health workers are dying,” she said on Tuesday.Read also: Don’t ‘misinterpret new normal’: Govt expects new team to meet health, economic goalsInstitute for Development of Economics and Finance (Indef) economist Enny Sri Hartati said on Monday that Indonesia needed better leadership, not just a new government team, as the main problem hindering the country’s COVID-19 response was poor coordination between government ministries and regional administrations.University of Indonesia rector Ari Kuncoro, however, expressed optimism that the team would be effective in handling the outbreak and the economic recovery as it would have more power, a greater budget and better planning compared to the previous COVID-19 task force.“This team is putting both health and economy as the top priority, not one over the other, because if the economic wheels are not running, we can’t fund the health efforts to handle this pandemic,” he said.Topics : Although neighboring countries like Singapore and Thailand reported their first coronavirus cases in February, Indonesia denied suspicions that the virus had also spread into the country despite the millions of Chinese tourists who were coming in.Indonesian Institute of Sciences (LIPI) economist Latif Adam said on Tuesday that Indonesia was way behind other countries that had quickly reacted when the outbreak began.“Maybe the government is of the view that it is better late than never,” he told The Jakarta Post over the phone.The government launched on Monday a new team to tackle both the public health and economic aspects of the COVID-19 pandemic under the National Economic Recovery and COVID-19 Response Team.
Local authorities have closed the Cemoro Sewu hiking trail on Mount Lawu in East Java following the death of a hiker on Sunday that prompted the deployment of an evacuation team.The information was shared on Instagram by adventure-based account @koplak.adv and reposted by the official Instagram account of Mt. Lawu management @lawumountain.“As another incident has occurred, the hiking trail via Cemoro Sewu is closed until further notice,” the post stated along with a photo in which a board announcing the temporary closure of hiking activity was hung on a gate. The closure came after a hiker from Wonogiri, Central Java, identified as Angga, 27, died while hiking on the mountain on Sunday. Giri Lawu management office head Miko Wicaksono said Angga started to hike at 5:30 p.m. on Saturday with a group of six people along the Cemoro Sewu trail.Read also: Hikers flock Mt Lawu ahead of Independence Day, raising COVID-19 concernsWith his friends, he erected tents at midnight around Post 2 of the hiking trail. Later, based on statements by his fellow-hikers Angga reported feeling cold and passed out.At 3 a.m. his friends went down to report his condition to officials at the mountain’s basecamp.Another official from Giri Lawu, Dwi Bandono, said the management immediately formed a rapid-response team for evacuation. The team, comprising a total of 50 people, was deployed in groups to carry out the evacuation starting from the first group that went up to the location at 7 a.m.“The evacuation process was completed at 2 p.m. A team from Magetan Police has checked the body,” he said adding that the victim’s body had been taken to his family’s house.The police are still investigating the cause of the death, he added. (trn)Topics :
“Today we have agreed that we will extend important and effective measures to how we deal with the coronavirus,” she added.Among the main decisions were an extension of short-time work subsidies, which had been due to expire in March 2021, until the end of next year and prolonging bridging aid for small and mid-sized companies until the end of this year.Short-time work saves jobs by allowing employers to reduce the employees’ hours but keeps them in work.The parties also agreed to prolong measures aimed at staving off bankruptcies by allowing firms in financial trouble due to the pandemic to delay filing for insolvency until the end of the year.German Chancellor Angela Merkel’s government has also brought in a massive stimulus package, worth more than 130 billion euros, that it hopes will help the economy return to growth.The coalition parties also agreed on an electoral reform aimed at reducing the number of lawmakers in the Bundestag lower house of parliament.Topics : German coalition parties agreed on Tuesday to extend measures to cushion the effects of the coronavirus crisis on Europe’s biggest economy, including prolonging a short-time work scheme and a freeze on insolvency rules.The German economy contracted at its steepest rate on record in the second quarter and the government is desperate to mitigate the effects of the pandemic as much as possible, especially in the run-up to elections in the autumn of 2021.“Corona remains a reality and a challenge,” said Annegret Kramp-Karrenbauer, leader of the conservative Christian Democrats (CDU) after around seven hours of talks with their centre-left Social Democrat (SPD) coalition partners.
Smith said discussions were already underway with shareholders on shoring up the airline group, and steps would be taken before the next regular annual meeting in the second quarter of next year.”One, three or five billion euros? It is too early to put a figure on a possible recapitalisation,” he said.The airline group had 14.2 billion euros in cash or available under credit lines.Major shareholders include the French government with a 14.3 percent stake, the Dutch government at 14 percent, as well as Delta and China Eastern airlines which each hold an 8 percent stake.Governments are coming under pressure to tie airline bailouts to environmental commitments.One proposal that has come from a citizen’s convention convoked by President Emmanuel Macron would cost airlines an estimated 4.2 billion euros. Smith said the imposition of environmental charges on the industry would be “irresponsible and catastrophic” for Air France-KLM.Topics : Bailouts provided to Air France-KLM by the French and Dutch governments will keep the airline flying less than a year, its CEO Benjamin Smith said Monday and evoked the possibility of injecting new capital.In an interview with the French daily l’Opinion, Smith also warned that calls for airlines to contribute more to fight climate change could be catastrophic for their survival which is already under threat due to the coronavirus pandemic.When countries imposed lockdowns earlier this year to stem the spread of the coronavirus airlines faced steep drops in revenue that have claimed several carriers. A number of countries stepped in with support, including France which provided 7 billion euros ($8.2 billion) to Air France and the Netherlands which received a 3.4-billion-euro package.”This support will permit us to hold on less than 12 months,” said Smith.The reason is that air traffic is picking up very slowly as many northern hemisphere countries are now fearing a second wave of infections.”If we base it upon the past few weeks, it is clear that the recovery in traffic will be slower than expected,” according to Smith, who said when the bailout was put together the airline was expecting a return to 2019 levels only in 2024.
Advertisement Comment Arsenal take on Chelsea in the Europa League final in Baku (Picture: Getty)Arsenal boss Unai Emery has stuck to his guns by selecting Petr Cech ahead of Bernd Leno for tonight’s Europa League final against Chelsea.Cech, 37, will hang up his gloves no matter the result tonight after confirming his retirement earlier this season.The veteran has played every single knockout game for the Gunners this term but he’s been second choice behind Leno in the Premier League.Emery was under substantial pressure to select the German given the nature of tonight’s clash but Emery has stuck to his word by sticking with Cech.ADVERTISEMENTElsewhere, Mesut Ozil starts in midfield behind a front two of Pierre-Emerick Aubameyang and Alexandre Lacazette, with Emery appearing to select a back five.📋 Here it is – our @EuropaLeague final team news!🏆 #UELfinal— Arsenal FC (@Arsenal) May 29, 2019Chelsea’s build-up to the Baku final has been far from ideal with Maurizio Sarri caught storming out of training on Tuesday.AdvertisementAdvertisementThe club claim he was unhappy with the fact that the squad could not practice set-pieces due to the open session but tempers frayed elsewhere as Gonzalo Higuain and David Luiz were seen arguing.N’Golo Kante was an unexpected member of the travelling party to the Azerbaijan as Chelsea gave him every opportunity to prove his fitness.He managed just 20 minutes in Tuesday’s training session but he did enough to convince the coaching staff that he was worth a start.Eden Hazard starts in what is likely to be his final appearance for the club, while Olivier Giroud gets the nod ahead of Gonzalo Higuain.Kante starts for the Blues! 💪Here’s our #UELfinal starting team… pic.twitter.com/L88vIojaoV— Chelsea FC (@ChelseaFC) May 29, 2019 Europa League final team news: N’Golo Kante makes shock start, Petr Cech picked ahead of Bernd Leno Chelsea XI: Kepa, Emerson, Azpilicueta, Luiz, Christensen, Jorginho, Kante, Kovacic, Hazard, Pedro, Giroud.Arsenal XI: Cech; Sokratis, Koscielny, Monreal; Maitland-Niles, Xhaka, Torreira, Kolasinac; Ozil; Aubameyang, LacazetteMORE: How much prize money will Arsenal or Chelsea earn from winning the Europa League? Metro Sport ReporterWednesday 29 May 2019 6:50 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link412Shares Advertisement
Advertisement The teenager had another influential game, this time against Olympiacos (Picture: Getty)Bernd Leno wants Bukayo Saka to stay at Arsenal ‘for a very long time’ after the teenager played a starring role in the Gunners’ 1-0 win over Olympiacos in the Europa League.The north London club will take an away goal back to the Emirates next Thursday, with Alexandre Lacazette tucking home from close range after an inch-perfect pass from Saka.However, Arsenal risk losing the youngster – whose contract expires in 2021 – after talks over an extension hit a stumbling block, though Leno is in no doubt that he wants Saka to stay. Metro Sport ReporterThursday 20 Feb 2020 11:13 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link6.9kShares Advertisement Bernd Leno sends clear message to Bukayo Saka over Arsenal future Leno had a busy evening as he kept Olympiacos’ attackers at bay (Picture: Getty)Although Arsenal kept a clean sheet in Greece they were indebted to the reflexes of goalkeeper Bernd Leno and the German is happy with Arteta’s decision to play him in Europe.He added: ‘It’s my job to make saves. At the end when you have a clean sheet, I’m happy. We won this game and we have the away goal so we’re happy.‘I want to play all the games. We take this competition seriously. It’s another chance to win a trophy and qualify for the Champions League. I want to play all the games so I’m happy he’s decided I should.’MORE: Robin van Persie compares ‘world-class’ Bukayo Saka to Arsenal and Manchester United legendsMORE: Arsenal invincible Robert Pires raves about ‘revelation’ Gabriel Martinelli Saka’s brilliant pass produced the only goal of the game on Thursday night (Picture: Getty)Asked about the teenager after the game, Leno told BT Sport: ‘Bukayo is an outstanding player, hopefully he stays very long at Arsenal.AdvertisementAdvertisementADVERTISEMENT‘He is very important for us. I think today his cross was very good for Laca to score.‘We’re happy now we’ve got the advantage and the away goal. At home we want to beat them again and go through to the next round.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalManager Mikel Arteta was also asked about Saka, saying: ‘We try to put him in the right position, surrounded by the right players in the right position.‘He’s not a full-back. He’s responded in the right way, he’s got a lot of courage. I’m very pleased with his performance.’ Comment
Wenger won’t rule Arsenal out of finishing in the top 4 this season!#beINPL #ARSEVE pic.twitter.com/fq0UBspslV— beIN SPORTS (@beINSPORTS_EN) February 22, 2020 Advertisement Metro Sport ReporterSunday 23 Feb 2020 9:08 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.2kShares Comment Arsenal legend Arsene Wenger rates Mikel Arteta’s chances of securing top four place and Champions League qualification He told beIN Sports: ‘They’ve all got a chance because it looks like the top three teams have moved away from the rest of the league.‘And the rest of the teams, the bottom of the league have moved up. The top six have dropped their level.‘The problem is after Sunday it is 27 games and 33 points to go for. If you win you go up to 37 points and if you can make another 22 or 25 points you have a chance.’Everton are the visitors to the Emirates on Sunday and are now managed by Carlo Ancelotti who was briefly linked with Wenger’s old job following the sacking of Unai Emery.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalThe former Chelsea and Bayern Munich boss has masterminded an upturn in fortunes of his own at Goodison Park but has kept a keen eye on Arteta and has been impressed by what he has seen from Pep Guardiola’s former assistant.‘I prefer to have knowledge instead of [just] experience. It is more important to have knowledge and the fact that Arteta did his study with a fantastic manager like Guardiola, I think he has a lot of knowledge.‘The only thing that you miss is experience. I think that he has a lot of respect from the players for what he did as a player.‘When you start you don’t have experience but everyone in the world that starts has no experience. Experience is not so important. Every one of us has experience of what we are doing. Experience is natural.’MORE: Arsenal provide injury updates on Lucas Torreira, Kieran Tierney, Hector Bellerin and moreMORE: Arsenal legend Nigel Winterburn tells Mikel Arteta what he must do to beat Everton Advertisement Mikel Arteta is hoping Arsenal can mount a late charge and snatch fourth place from Chelsea (Picture: Getty)Arsene Wenger believes there is all still to play for in the race for fourth place and refused to rule out the possibility of Arsenal mounting a late charge.Manchester United’s victory at Stamford Bridge on Monday appeared to blow the race for Champions League qualification wide open, but Chelsea responded brilliantly to that setback on Saturday by beating Spurs 2-1 in a typically heated London derby.Arsenal, meanwhile, have displayed signs of life under Arteta following his appointment in December but genuine progress up the league table has been halted by a succession of frustrating draws.Arteta celebrated only his second Premier League win in charge last Sunday as Arsenal blew Newcastle away following a devastating second half display.AdvertisementAdvertisementADVERTISEMENTManchester City’s impending ban means fifth place could yet be enough to guarantee a return to Champions League football, but Wenger believes that with 11 games to go there is still enough time for his old club to make up the ground on Chelsea.
Manchester City and Arsenal play on the first day back (Picture: Getty Images)The Premier League is set to burst back into action on 17 June, albeit behind closed doors, but fans across the globe will still be excited about the restart of the English top flight.Details are still being confirmed and many remain unclear at the moment, but we know a handful of plans for the 92 matches that are still to be played in the Premier League this season.17 June is a Wednesday and the league is starting again midweek to play the two games in hand: Manchester City vs Arsenal and Aston Villa vs Sheffield United.Which order they are played in has not been confirmed but matches will kick-off midweek at 6pm and 8pm.AdvertisementAdvertisementADVERTISEMENTThere will then be a full fixture list starting on the weekend of Friday 19 June, with four games each on Saturday and Sunday and one each on Friday and Monday.Here is everything we know so far…When does the Premier League return?17 June, with Manchester City vs Arsenal and Aston Villa vs Sheffield United.What are the kick-off times?Friday 20:00Saturday 12:30, 15:00, 17:30 and 20:00Sunday 12:00, 14:00, 16:30 and 19:00Monday 20:00Tuesday, Wednesday, Thursday 18:00 and 20:00What are the fixtures?The Premier League has not confirmed the new schedule, however these were the next set of fixtures to be played before the coronavirus hiatus.Aston Villa vs ChelseaBournemouth vs Crystal PalaceBrighton vs ArsenalEverton vs LiverpoolMan City vs BurnleyNewcastle vs Sheffield UnitedNorwich vs SouthamptonTottenham vs Man UtdWatford vs LeicesterWest Ham vs WolvesMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityAre matches being played at neutral grounds?Police have set out the Premier League matches they would like to be played at neutral venues, which would include any Liverpool game where the title could be won.The matches which have been requested to take place at neutral grounds are Manchester City v Liverpool, Manchester City v Newcastle, Manchester United v Sheffield United, Newcastle v Liverpool and Everton v Liverpool.The police statement adds that ‘the game in which Liverpool could secure the league title’ should also be moved, but this may end up needing to be more than one match if the Reds did not clinch it at the first attempt.However, no decision has been finalised and Liverpool still hope to play home games at Anfield.What is the TV schedule?Every single one of the remaining 92 games will be shown live across Sky Sports, BT Sport, Amazon Prime and BBC.However, nothing has been announced about which games will be shown on which as yet.Sky Sports will have 64 games, with four on the BBC. 25 of Sky Sports’ games will be shown free-to-air.MORE: Premier League discuss placing ‘high risk’ Liverpool, Chelsea and Arsenal games at neutral groundsMORE: Chelsea accept N’Golo Kante could miss the rest of the Premier League seasonFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Advertisement Comment Premier League TV schedule, fixtures and kick-off times ahead of restart Metro Sport ReporterFriday 29 May 2020 6:59 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link41Shares Advertisement