By , (Reuters) - The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers have jobs until October while the industry battles its biggest-ever crisis.Airlines are hopeful that U.S. passenger traffic, which has dropped by 95% due to the coronavirus pandemic, will begin to recover by October but have warned that the slowdown in air travel could extend into next year and even longer. It’s possible they will need another round of government bailouts to survive.Major carriers will receive 70% of...…By , (Reuters) - The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers have jobs until October while the industry battles its biggest-ever crisis.Airlines are hopeful that U.S. passenger traffic, which has dropped by 95% due to the coronavirus pandemic, will begin to recover by October but have warned that the slowdown in air travel could extend into next year and even longer. It’s possible they will need another round of government bailouts to survive.Major carriers will receive 70% of...WW…

By , WASHINGTON/NEW YORK (Reuters) - The largest U.S. auto union and onetime Democratic presidential candidate Senator Bernie Sanders clashed Monday ahead of what is billed as this month’s planned celebration of party unity to defeat President Donald Trump in the November elections.United Auto Workers (UAW) President Rory Gamble and Sanders sparred on Monday in a phone call over the senator’s plan to have a former autoworker union leader nominate him for president at the Democratic National Convention (DNC), people briefed on the matter told Reuters.Democrats for months have been carefully...…By , WASHINGTON/NEW YORK (Reuters) - The largest U.S. auto union and onetime Democratic presidential candidate Senator Bernie Sanders clashed Monday ahead of what is billed as this month’s planned celebration of party unity to defeat President Donald Trump in the November elections.United Auto Workers (UAW) President Rory Gamble and Sanders sparred on Monday in a phone call over the senator’s plan to have a former autoworker union leader nominate him for president at the Democratic National Convention (DNC), people briefed on the matter told Reuters.Democrats for months have been carefully...WW…

By , Slideshow “Corporations such as Google, Microsoft, Yahoo, and Apple have shown themselves all too willing to collaborate with the (Chinese Communist party),” Barr said. He added that Hollywood has routinely caved into pressure and censored their films “to appease the Chinese Communist Party.”The companies and the Chinese Embassy in Washington did not immediately comment. Apple declined comment.“I suspect Walt Disney would be disheartened to see how the company he founded deals with the foreign dictatorships of our day,” Barr said in a speech at the Gerald R. Ford Presidential Museum in...…By , Slideshow “Corporations such as Google, Microsoft, Yahoo, and Apple have shown themselves all too willing to collaborate with the (Chinese Communist party),” Barr said. He added that Hollywood has routinely caved into pressure and censored their films “to appease the Chinese Communist Party.”The companies and the Chinese Embassy in Washington did not immediately comment. Apple declined comment.“I suspect Walt Disney would be disheartened to see how the company he founded deals with the foreign dictatorships of our day,” Barr said in a speech at the Gerald R. Ford Presidential Museum in...WW…

and WashingtonFacebook Inc on Tuesday placed a “voting info” label on a post by U.S. President Donald Trump that said mail-in voting would lead to a “CORRUPT ELECTION.” The label is the most recent of several placed on posts by Republican Trump and Democratic presidential candidate Joe Biden since the company launched a policy to add information to posts by federal candidates and elected officials.“Mail-In Voting, unless changed by the courts, will lead to the most CORRUPT ELECTION in our Nation’s History! #RIGGEDELECTION,” Trump wrote.Voting by mail is not new in the United States – nearly...…and WashingtonFacebook Inc on Tuesday placed a “voting info” label on a post by U.S. President Donald Trump that said mail-in voting would lead to a “CORRUPT ELECTION.” The label is the most recent of several placed on posts by Republican Trump and Democratic presidential candidate Joe Biden since the company launched a policy to add information to posts by federal candidates and elected officials.“Mail-In Voting, unless changed by the courts, will lead to the most CORRUPT ELECTION in our Nation’s History! #RIGGEDELECTION,” Trump wrote.Voting by mail is not new in the United States – nearly...WW…

By , BOSTON/WASHINGTON (Reuters) - U.S. authorities on Wednesday arrested a former U.S. Army Special Forces soldier and another man in Massachusetts wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.Former U.S. Green Beret Michael Taylor, 59, and his son, Peter Taylor, 27, are accused by Japanese authorities of helping Ghosn last year flee to Lebanon to avoid trial over alleged financial wrongdoing.The U.S. Marshals Service arrested them in Harvard, Massachusetts, at the request of Japan, which in January issued arrest...…By , BOSTON/WASHINGTON (Reuters) - U.S. authorities on Wednesday arrested a former U.S. Army Special Forces soldier and another man in Massachusetts wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.Former U.S. Green Beret Michael Taylor, 59, and his son, Peter Taylor, 27, are accused by Japanese authorities of helping Ghosn last year flee to Lebanon to avoid trial over alleged financial wrongdoing.The U.S. Marshals Service arrested them in Harvard, Massachusetts, at the request of Japan, which in January issued arrest...WW…

By , BOSTON/WASHINGTON (Reuters) - U.S. authorities on Wednesday arrested a former U.S. Army Special Forces soldier and another man in Massachusetts wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.Former U.S. Green Beret Michael Taylor, 59, and his son, Peter Taylor, 27, are accused by Japanese authorities of helping Ghosn last year flee to Lebanon to avoid trial over alleged financial wrongdoing.The U.S. Marshals Service arrested them in Harvard, Massachusetts, at the request of Japan, which in January issued arrest...…By , BOSTON/WASHINGTON (Reuters) - U.S. authorities on Wednesday arrested a former U.S. Army Special Forces soldier and another man in Massachusetts wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.Former U.S. Green Beret Michael Taylor, 59, and his son, Peter Taylor, 27, are accused by Japanese authorities of helping Ghosn last year flee to Lebanon to avoid trial over alleged financial wrongdoing.The U.S. Marshals Service arrested them in Harvard, Massachusetts, at the request of Japan, which in January issued arrest...WW…

By , Slideshow Cruise officials acknowledged they were cutting jobs, but declined to confirm the number. According to an internal email partially read to Reuters, about 8% of the staff would be cut, which amounts to more than 140 people.The outbreak has caused funding to dry up in the autonomous driving industry. That is only the latest challenge in a sector whose promise of large-scale rollouts of so-called robotaxis has been pushed out by many years.“In this time of great change, we’re fortunate to have a crystal clear mission and billions in the bank. The actions we took today reflect us...…By , Slideshow Cruise officials acknowledged they were cutting jobs, but declined to confirm the number. According to an internal email partially read to Reuters, about 8% of the staff would be cut, which amounts to more than 140 people.The outbreak has caused funding to dry up in the autonomous driving industry. That is only the latest challenge in a sector whose promise of large-scale rollouts of so-called robotaxis has been pushed out by many years.“In this time of great change, we’re fortunate to have a crystal clear mission and billions in the bank. The actions we took today reflect us...WW…

By , Boeing shares closed 5.9% higher to $139 after the company said it was confident of getting sufficient liquidity to fund operations and would have positive cash flow next year as it ramps up production of the grounded 737 MAX.After the market close, S&P lowered its credit rating for Boeing to BBB-, one step above junk, saying that earnings and cash flow over the next few years are likely to be lower than it had previously expected due to the impact of the coronavirus.Reuters reported on Tuesday that Boeing is working with investment banks on a potential bond deal worth at least $10...…By , Boeing shares closed 5.9% higher to $139 after the company said it was confident of getting sufficient liquidity to fund operations and would have positive cash flow next year as it ramps up production of the grounded 737 MAX.After the market close, S&P lowered its credit rating for Boeing to BBB-, one step above junk, saying that earnings and cash flow over the next few years are likely to be lower than it had previously expected due to the impact of the coronavirus.Reuters reported on Tuesday that Boeing is working with investment banks on a potential bond deal worth at least $10...WW…

By , WASHINGTON (Reuters) - The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion the total provided to the airline sector hit hard by the coronavirus pandemic.In total, the government has disbursed grant funds to 10 major airlines and 83 smaller carriers.Congress approved $25 billion in grants for payroll assistance for passenger airlines. Treasury required major airlines receiving more than $100 million in assistance to repay 30% in low-interest loans over 10 years and...…By , WASHINGTON (Reuters) - The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion the total provided to the airline sector hit hard by the coronavirus pandemic.In total, the government has disbursed grant funds to 10 major airlines and 83 smaller carriers.Congress approved $25 billion in grants for payroll assistance for passenger airlines. Treasury required major airlines receiving more than $100 million in assistance to repay 30% in low-interest loans over 10 years and...WW…

Nov 30 (Reuters) - A U.S. judge late on Thursday blocked Montana's first-of-its kind state ban on the use of short-video sharing app TikTok from taking effect on Jan. 1, saying it violated the free speech rights of users.U.S. District Judge Donald Molloy issued a preliminary injunction to block the ban on the Chinese-owned app, saying the state ban "violates the Constitution in more ways than one" and "oversteps state power."TikTok, owned by China's ByteDance, sued Montana in May, seeking to block the U.S. state ban on several grounds, arguing that it violates the First Amendment free...…Nov 30 (Reuters) - A U.S. judge late on Thursday blocked Montana's first-of-its kind state ban on the use of short-video sharing app TikTok from taking effect on Jan. 1, saying it violated the free speech rights of users.U.S. District Judge Donald Molloy issued a preliminary injunction to block the ban on the Chinese-owned app, saying the state ban "violates the Constitution in more ways than one" and "oversteps state power."TikTok, owned by China's ByteDance, sued Montana in May, seeking to block the U.S. state ban on several grounds, arguing that it violates the First Amendment free...WW…