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British Airways warned it could lose Heathrow landing slots amid jobs row

British Airways could be stripped of prized landing slots at Heathrow airport because it is cutting staff while still taking advantage of the taxpayer-backed furlough scheme, a minister has suggested.

Officials will review whether they can intervene in slot allocations at ­Europe’s busiest airport as BA plans to slash 12,000 jobs, Kelly Tolhurst, the aviation minister, told MPs. Warnings of state intervention drew a sharp rebuke from the airline’s boss Alex Cruz. Addressing staff, he said: “Every slot lost will lead to jobs in BA being permanently lost.”

British Airways has benefited from state subsidies for the wages of thousands

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Instant noodles cool as Japan’s stay-at-home stocks lose steam

TOKYO — Such Japanese stocks as Nissin Foods Holdings and Nintendo that had rallied in anticipation of demand from consumers stuck at home amid the coronavirus pandemic have begun returning to Earth as the government begins to relax emergency measures.

Instant-noodle purveyor Toyo Suisan is included with Nissin on a list of coronavirus shares compiled by Mitsubishi UFJ Morgan Stanley Securities. Video game company Capcom makes an appearance with Nintendo. So do Nomura Research Institute and Obic, which investors had hoped would both see an influx in orders for systems for remote work.

The brokerage defined coronavirus stocks as the

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Top brands may lose $400B in value during pandemic

Dive Brief:

  • The most valuable brands in the U.S. this year may lose a combined $393 billion in value as the COVID-19 pandemic damages the economy, per an annual ranking by consulting firm Brand Finance. While apparel, airline, bank and hotel brands may lose 20% of their value, e-commerce, media and telecom brands have a chance to make gains as consumers rely on their services while stuck at home.
  • Airline brands are suffering the worst damage amid the significant disruptions to air travel, with Delta’s brand value down 9% to $9.2 billion, American Airlines’ down 7% to $8.9 billion and
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Japan’s stay-at-home food stocks lose immunity to downturn

TOKYO — Makers of instant food were the go-to stocks in the Japanese market recently, poised to benefit from the social distancing trend, but now the shares are undergoing a correction.

Nissin Foods Holdings, which makes instant noodles, fell 3% during Thursday’s trading in Tokyo. Frozen food maker Nichirei and Toyo Suisan Kaisha — the company behind Maruchan ramen — each dipped 4%

Food stocks are usually considered defensive and recession proof, even in normal times. Reports of customers making bulk purchases of food items put the companies in the limelight.

Components in the Topix food subindex surged by 22%

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