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Tuesday’s situation
12:10 p.m .: Gastronomy and the hotel industry welcome openings
After the reopening date of Austrian gastronomy on May 15, which was set for Tuesday, as well as the re-entry of the hotel industry by the Federal Government, which was set for May 29, it did so commercial comments relieved dice. Together with social partners and ministries, specific guidelines and standards were developed for guests, companies and their employees.
11:45 a.m.: Lufthansa rejects state aid conditions according to SZ
The airline urgently needs help to avoid bankruptcy, but apparently not at any cost, reports the Süddeutsche Zeitung. You are now examining drastic alternatives.how can you survive in spite of everything. Negotiations with the federal government threaten to overturn, the company rejects the conditions according to SZ. A Protective armor is being considered.
11:35 a.m .: German economy plummets by 16 percent
According to the Ifo Institute estimates, German economic power collapsed by 16 percent during the crown closings. This results in an evaluation of the April survey of 8,800 companies. from almost all industries, Munich researchers said Tuesday. “This means that the gross domestic product should have fallen by 1.9 percent in the first quarter and then fell by 12.2 percent in the second quarter,” Ifo chief economic officer Timo Wollmershäuser explained.
11:30 am: Eight percent reduction in tourism in the winter season
The official closings due to the coronavirus pandemic of the second half of March cut the life of tourism. They resolved a massive drop in overnight stays reserved in March compared to the previous year by 59 percent and started the result of all the previous Winter season down 8 percent. This is shown with preliminary data from Statistics Austria.
11:10 a.m.: AUA turns long-haul airlines into cargo airlines
The AUA is expanding most of its seats from two long-distance aircraft (B777), to be able to use them better for the transport of goods. The The cargo capacity of the aircraft will increase by a third The company announced Tuesday of around 210 cubic meters to 280 cubic meters. Until now, the space on the aircraft seats in the passenger cabin has been used to transport air cargo, mainly from China and Malaysia to Austria, in addition to the cargo capacity in the belly of the aircraft.
11:08 a.m.: rush for corporate loans in the crown crisis
Under the impact of the corona crisis, the demand for corporate loans in the eurozone has increased significantly. This is in part due to acute liquidity needs, said the European Central Bank (ECB) in a published on Tuesday Survey of 144 money houses With an even stronger increase in demand is emerging for the second quarter.
10:58: Schramböck criticizes the high processing fee
Economy Minister Margarete Schramböck (ÖVP) on Tuesday criticized high government processing fees at banks at a government press conference. This would represent up to 2.5 percent of the loan amount, says Schramböck. With the three great institutes Raiffeisen, Bank Austria and Erste, they had reached an agreement. These would have expenses reduced to 0.5 to 0.8 percentSchramböck said.
10:07 a.m. – up to 50,000 bankruptcies in German retail
German retail trade expects up to 50,000 bankruptcies in the industry due to the crown crisis. During the four-week closings of non-food stores. the industry has already lost around 30 billion euros in sales, which is also not available, said the managing director of the German Trade Association (HDE), Stefan Genth.
9:30 am: Airline SAS announces drastic job cuts
Scandinavian airline SAS wants its staffing levels almost halved in the course of the crown crisis by up to 5,000 jobs. The reason for this is that the company has to adapt to lower demand for flights, the airline said Tuesday morning. The measure is said to affect some 1,900 full-time employees in Sweden, 1,700 in Denmark and 1,300 in Norway. The airline anticipates that it will be a few years before the demand for flights returns to the level it had before the coronavirus pandemic. “Covid-19 has forced SAS to face a new and unprecedented reality that will impact not only in the coming months, but also in the coming years.”SAS chief Rickard Gustafson said. The company had temporarily hired up to 10,000 employees, about 90 percent of the workforce, during the crown crisis.
9:12 am: Germany is considering a larger catering rescue package
German economy minister Peter Altmaier is considering further aid for the catering industry, which has been hit by the crown crisis. “If, contrary to expectations, it takes a long time before a full opening is possible, then we have to add more to the aid.”The CDU politician said Tuesday at the ARD. Then a larger rescue fund would be needed. The industry can already take advantage of aid loans and short-term benefits. In addition, the leaders of the grand coalition recently decided to reduce food VAT to seven percent for one year.
9:05 a.m. – German companies prepare for layoffs
According to the Ifo Institute, the German job market is also threatened with job cuts after short-term work in the crown crisis. “The human resources departments of German companies are preparing for the layoffs “The Munich research institute summarized the results of a survey on Tuesday. The Ifo employment barometer based on the survey fell to a record low of 86.3 points in April, from 93.4 points in March. The decrease in the value of the index was also the strongest that the Ifo Institute determined.
8:46 a.m.: Hotel openings from May 29.
As previously announced, restaurants can reopen from May 15, According to Tourism Minister Elisabeth Köstinger (ÖVP), the hotels should reopen from May 29. In the future, it will apply to the catering business that a maximum of four adults plus associated children may sit at each table. The “distance rule” does not apply to guests at the table, but staff must wear masks. There is a “great yearning” between the population and companies “that we can return to a completely normal life,” said Köstinger. The relaxation steps now announced will be evaluated every two weeks. However, the timeline gives companies the security of planning: “Companies can now prepare for the opening.” As previously announced, the catering hours will remain from 6:00 a.m. at 11:00 p.m.
06:42: Trump expects a “spectacular” recovery
Despite the devastating damage caused by the Corona crisis, the President of the United States anticipates Donald Trump with a rapid recovery in the US economy later this year. The third, but especially the fourth, would be “spectacular” in terms of gross domestic productTrump announced Monday night (local time) at a press conference in the Rose Garden of the White House. Next year will also be “phenomenal”. Trump once again pushed for the US economy to reopen soon, which should be “fast but safe.” For example, it caused the opening of schools, even if this would only be short due to the summer holidays.
7:05 a.m .: oil prices fell, US oil USA Temporarily below $ 11
Oil prices continued to drop on Tuesday after the price drop earlier in the week. In addition to the pressure that has been maintained since mid-March due to weak floods of demand and supply, the decrease in storage capacity and the sales of large oil funds are depressing prices. As a result, the price of US oil temporarily fell below the $ 11 mark in Asian trade. A week ago, the price of US oil USA To change the contracts he had temporarily fallen into negative territory.
6:13 a.m. – the US Federal Reserve USA Extend aid
The Federal Reserve (Fed) is expanding its subsidies to more rural areas. Bonds with a term of up to three years from counties with only 500,000 inhabitants and cities with only 250,000 inhabitants are now possible. The Fed has raised the initial limit of 2 million for counties and 1 million for cities.
05:45 am: Nissan wants to cut production by 80 percent
Japanese automaker Nissan wants to greatly reduce production. The number of cars produced in the home will decrease in May by 78 percent compared to the previous year. Nissan plans to produce only around 13,400 vehicles in the next month, compared to almost 61,000 units built last May. This is evident from documents available to the Reuters news agency. In June, domestic production will drop to 33,700 vehicles, a decrease of about 63,700 units compared to last year and a decrease of 43 percent compared to the previous line of around 59,300 vehicles. Nissan declined to comment on its production goals.
05: 30: Boeing plans to start production 787 of “Dreamliner”
US aviation giant Boeing plans to resume production of its long-haul 787 “Dreamliner” jet, which was halted due to the corona crisis. Operations at the plants in South Carolina state will begin again next weekend, the company said Monday (local time) in North Charleston. Boeing temporarily suspended production on April 8 due to the pandemic. Various security measures have been implemented, the company said.
Monday to read
8:16 p.m .: planned pay cut at Laudamotion
Ryanair’s subsidiary Laudamotion is demanding a new union agreement due to the coronavirus pandemic. Savvy pilots and stewardesses are expected to drop by 10 percent or more, as reported by online portal AviationNet on Monday night. In an interview with the portal, Lauda management once again threatens to leave the Airbus base in Vienna and fire all 560 employees.
According to the report, the airline presented its draft contract for the new collective agreement (KV) to the Chamber of Commerce and the Vida union on Monday. It should be signed before May 21. Otherwise, the current short-term job would end on May 31, 2020, a month later the termination protection would end.
7:40 p.m .: Fashion chain Tally Weijl in dire straits
The Swiss fashion chain Tally Weijl He urgently needs money to continue running the business. The crown crisis hits the fashion-oriented chain hard for young women during the planned restructuring of the business. The 80 Swiss stores and many of the 800 Tally Weijl stores in Europe have been closed since mid-March due to the crown pandemic. To find the way out of the financial bottleneck, Covid-19 loans totaling CHF 24.7 million were requested for the two Swiss companies, the spokesperson confirmed. Sacha Wigdorovits.
Loan applications are currently pending with banks, he said. But without the support of the banks, Tally Weijl could not get out of the Corona hole, Wigdorovits continues. The company is threatened with the end. Many jobs are at stake. In Switzerland, Tally Weijl employs around 620 people in its boutiques and at its headquarters in Basel. There are a total of 2,700 employees. Tally Weijl hits the crown crisis in the midst of renewal. The company plans to build a digital omnichannel sales model. In the course of the first conversion steps, around 100 stores (including some in Austria) were closed and costs were significantly reduced, the spokesperson writes. Further staff cuts are planned at Basel headquarters and in branches.
7:30 p.m.: Normality will only take two to three years
US aircraft maker Boeing expects a return to normal in international air traffic in two to three years. CEO David Calhoun He said Monday that the pre-coronavirus pandemic level is only expected to return in a few years. The crisis is unprecedented. Calhoun also announced that Boeing is expected to pay dividends to shareholders in only three to five years. He made it clear that paying off debt and maintaining the supply chain was a higher priority.
7:04 p.m .: up to ten percent drop in the EU
The EU Commission expects an economic drop of 5 to 10 percent in the European Union due to the crown crisis. More precise figures to be presented in early May, Vice Commission said Valdis Dombrovskis on Monday to the Economic Committee of the European Parliament.
Concrete data on the labor market was still missing, he added. But he can give some examples. For example, Austria has 900,000 people in short-term jobs and 500,000 unemployed, representing 35 percent of the workforce. In France, 9.3 million people work in the short term. These are unprecedented numbers. According to a media report, the grand coalition is assuming a similar slowdown in growth for Germany: gross domestic product could drop 6.3 percent in 2020 compared to the previous year, reports the “Süddeutsche Zeitung” ( Monday), citing figures to be presented on Wednesday should.
6:00 p.m.: the debate on the opening of Sunday breaks out again
The closing of a week in the retail sector is causing an old debate. Several mall managers are at least partially open on Sundays to cushion the drop in sales in recent weeks. Richard Lugner For example, whoever runs Lugner City in Vienna would like to open on Sundays from 12 noon to 6 p.m. That would still leave half a Sunday to go to church. And in contrast to the catering sector, employees charge a surcharge, which is especially an incentive for younger people, according to Lugner, according to a broadcast Monday.
Peter Schaider, Head of the Auhof Center, wishes to have ten Sundays open each year and next year. Christoph Andexlinger, Manager of the SES Spar Center for European Shopping Centers, is open six Sundays a year. “In the retail sector, the crown crisis suddenly took our feet off overnight. So opening it six Sundays a year would be a move that would help retail and associated jobs.”
The debate on opening trade on Sundays in the tourist areas of Carinthia is different, where it will be allowed again from May 1. However, the union calls for the regulation to be suspended.
4:45 pm: merchandise flows to China are increasing again
The flow of goods to and from China will rebound again after the local industry has started. The Austrian Federal Railways reported on Monday that rail freight transport by the ÖBB Rail Cargo Group (RCG) is increasing again. Now the first RCG train on the route Jinan-Budapest arrived, the fastest direct connection along the Silk Road with 12 to 14 days.
3:45 p.m .: General Motors suspends dividends and share buybacks
America’s largest automaker, General Motors (GM), has taken additional steps to strengthen its bottom line in the crown crisis. The company announced Monday in Detroit that it had suspended the quarterly dividend and share buybacks, and that it had decided to take significant austerity measures to keep the money together in the pandemic.
GM also announced $ 3.6 billion loan agreements extended until April 2022.
3:00 p.m .: Apple reportedly postpones production of new iPhones
The American company Apple postpones the mass production of its new iPhone models due to the corona virus pandemic, according to a media report. for about a month. This is related to weakening demand and supply chain disruptions, people familiar with the matter said, according to the Wall Street Journal.
The company also expects to do so in the second half of the year. a fifth less devices for sale Four new models with 5G capacity are planned to be launched on the market. The American group generally introduces new devices in September. Apple was initially unavailable for comment.
2:30 p.m .: Italy introduces a fixed price for respiratory masks
The government of Rome wants to stop the inflation of respirator prices. Therefore, simple surgical masks are intended for the future. no more than 50 cents cost each, said Premier Giuseppe Conte. However, this sparked protests from mask makers that the price was too low to cover costs.
The government wants to help pharmacies that bought respirators at prices above 50 cents each. The government agreed this with the association of pharmacists.
2:00 p.m .: footwear trade in distress, each client receives a shoehorn
The crash caused by the coronavirus is currently causing problems for retailers, especially fashion sectors such as clothing and footwear retailers, are noticing a reluctance to buy even after a partial opening.
To keep the number of clients manageable, the Styrian company has Leather and shoe (Humanic, Shoe4You) something strange occurs to you. Each customer receives a disinfected shoehorn upon entering the store and returns it when you leave. Each branch has a number of footwear that adapt to the sales area. “The system worked well in the early days.”
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1:15 p.m .: German Minister of Labor defends planned right to head office
German minister of labor Hubertus Heil has rejected criticism of his plans for a right to work in the home office. Not only employers, but also employees have flexibility needs, the SPD politician said Monday. “You have to balance them fairly. I also think we can do it.”
11:20: Minister sees wave of short-term requests processed soon
In some federal states, “the whole wave” of short-term job applications submitted in recent weeks is expected to be processed in late April, according to the Minister of Labor. Christine Aschbacher (ÖVP) Monday in a broadcast.
Vienna remains the leader in short-term job applications with 22,470 applications, followed by Lower Austria with 16,725 applications and Upper Austria with 15,838 applications. Then continue Styria (12,642 applications), Tyrol (8,799), Salzburg (7,656), Carinthia (5,681), Vorarlberg (4,981), Burgenland (2,917). According to the Labor Ministry, Carinthia has overtaken Vorarlberg in short-term job applications in recent days.
Incidentally, applications have already been submitted for almost 1.1 million jobs in Austria.
11:00 a.m.: 43 percent of households have less income
The crown crisis leads to loss of income across Austria. But federal tourism states are particularly affected Tyrol and Salzburg, shows a survey commissioned by Durchblicker.at last week. According to this, 43 percent of households in Austria have lower incomes, in the two federal states around half, in Vienna, just over a third.
10:00 am: Italian gastronomy warns of collapse
Italian gastronomy protests against the government’s decision in Rome to stop the industry Until the 1st of June to spread The danger is the collapse of the entire sector, which has reported losses of the order of 34 billion euros since the start of the coronavirus pandemic.
“It is probably not clear if the restaurant industry is being condemned to shut down 50,000 companies will close and 350,000 people will lose their jobs. This location affects cafes, restaurants, pizzerias and the entire leisure industry. Even for bathing establishments, there is no date for the restart, “he said in a call published Monday by the Italian gastronomy association FIPE.
9:50 a.m .: the German state supports the vacation airline Condor with a loan of 550 million euros
The Battered German Vacation Pilot Condor get new state aid. Due to the pandemic of the corona virus on Monday, the EU Commission approved a loan program from the German government and the state of Hesse for a total of 550 million euros.
9:00 a.m.: Porr 2019 profit more than halved
The listed construction group Porr significantly reduced its profits in the last financial year. Consolidated earnings broke from 66.2 in 2019 compared to the prior year 27.8 million euros by 58 percent. Earnings per share (EPS) fell 74 percent to EUR 0.5. Production performance developed with around 5.6 billion euros stable (minus 0.4 percent), as the company announced Monday morning.
8:10 am: VW also turns tapes back on at its headquarters
After almost a month and a half in the crown crisis, the VW Group is slowly starting car production again at the Wolfsburg headquarters on Monday.
In addition to Wolfsburg, Hannover and Emden as well as other locations in Europe will be added. At the main plant in Wolfsburg, production capacity was 10 to 15 percent initially, and about 40 percent the following week, VW announced Monday.
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