An electric dump truck of Volvo during an expo in Nevada, US. Reuters
Volvo Cars on Thursday announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), becoming the latest carmaker to warn that pricing pressure and tariffs arising from the China-US trade war were denting profitability.
Swedish truckmaker Volvo’s first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment.
Australia has committed to removing the vast majority of social distancing restrictions imposed to slow the spread of COVID-19 by July, while nearly A$70 billion of government aid is scheduled to finish in September.
The global aviation industry has been hammered by the pandemic, as it is directly affected by border closures and population lockdowns.
The German government and Lufthansa, which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout.