EasyJet Plans To Cut Jobs In Berlin

Iran reports highest one-day COVID-19 death toll since outbreak

Iran has announced its highest single-day death toll since the start of the COVID-19 outbreak there in February.

Iran has recorded its highest single-day jump in coronavirus deaths to date, with 200 people dying.

The health minister has blamed the rise on Iranians not following restrictions. Iran has reported a total of almost 12,000 COVID-19 deaths, with more than 245,000 cases.

Just last week, Iran started to reimpose some restrictions after a surge in new cases.

Al Jazeera’s Assed Baig reports from Tehran, Iran.

UNSC: Russia, China veto cross-border aid extension to Syria

The UNSC resolution would have extended cross-border humanitarian aid to three million Syrians for a year.

Russia and China have vetoed a United Nations Security Council resolution that would have extended cross-border humanitarian aid to three million Syrians for a year.

The operation, which is authorised until Friday, brings in supplies from Turkey without interference from the Syrian government.

Aid workers have called the veto “reprehensible”.

Al Jazeera’s James Bays reports from the UN headquarters in New York.

Gold Rises Above $1800 An Ounce

Gold prices rose on Wednesday to hover near their highest level since November 2011 as soaring Covid-19 cases in the U.S. and elsewhere around the world dented hopes of a swift economic recovery.

Surging coronavirus cases boosted hopes that the Federal Reserve will announce more stimulus.

Spot gold rose 0.4 percent to $1,801.55 per ounce, while U.S. gold futures were up 0.2 percent at $1,813.65 per ounce.

The overall number of global Covid-19 cases has increased to more than 11.7 million, while the deaths have soared to over 543,000, according to the Johns Hopkins University.

More U.S. states reported record numbers of new infections, with Florida facing an impending shortage of intensive care unit hospital beds. California reported more than 10,000 coronavirus cases on Tuesday, a record rise for a single day.

The Australian state of Victoria saw another record rise in daily coronavirus cases, which led to lockdown measures being reimposed in Melbourne, the country’s second-biggest city.

Dr Michael Ryan, emergencies chief of the WHO said the rise in cases was not due to widespread testing, but because the epidemic was “accelerating.”

Also, the WHO on Tuesday acknowledged the emerging evidence of airborne spread of the novel coronavirus after an open letter by over 200 scientists outlined evidence that showed floating virus particles can infect people who breathe them in.

U.S.-China tensions also remained on investors’ radar after reports suggested that U.S. President Donald Trump’s top advisers weighed proposals to undermine the Hong Kong currency’s peg to the U.S. dollar in a bid to punish banks in Hong Kong.

Republican Group Uses Reagan’s Words To Make A Powerful Case Against Trump

A group of President Donald Trump’s critics on the right is out with a new video and this one uses the words of former President Ronald Reagan to make the case against Trump’s reelection. 

Republican Voters Against Trump typically highlights voices of current GOPers who are fed up with Trump and ready to cross party lines in November to vote for former Vice President Joe Biden. But this new ad features Reagan, using excerpts from his “A Vision For America” speech, given the night before Election Day in 1980.  

The video mixes his words from 40 years ago with news footage from today to create a damning indictment of the Trump presidency:

Republican Voters Against Trump is one of several anti-Trump groups working against his reelection. Others include The Lincoln Project, best known for producing viral anti-Trump videos, and Republicans for a New President, which is holding a virtual anti-Trump convention at the same time as the Republican National Convention next month.

Earlier this month, alumni from the administration of former President George W. Bush also announced their own PAC to work in support of Biden. 

Stock Alert: Cambium Networks’ Stock Up 27% In Premarket On Upbeat Q2 Guidance

Shares of Cambium Networks Corp. (CMBM) are rising over 27% in pre-market today, after the company announced that it now sees Q2 revenues and net income above high-end of its previous outlook.

Cambium Networks now expects Q2 GAAP revenues of about $61 million, above the high-end of the previous outlook of $51-$56 million provided on May 12, 2020. Six Wall Street analysts have a consensus revenue estimate of $53.13 million for the quarter.

The increased outlook reflects better-than-anticipated demand for both fixed wireless broadband products and cloud powered enterprise Wi-Fi solutions. The higher demand is primarily due to service providers scaling networks due to requests for increased capacity and better than anticipated field deployments.

Net income for the second quarter is expected to be above the high-end of the previous GAAP and non-GAAP ranges.

The stock has been trading in the range of $3.57 – $11.75 for the past one year, and closed Tuesday’s trade at $7.52, down 39 cents or 4.93%. Currently, CMBM is trading at $9.60, up $2.08 or 27.66% in the pre-market session.

EasyJet Plans To Cut Jobs In Berlin

British budget airline EasyJet Plc (ESYJY.PK,EZJ.L) plans to cut jobs and reduce the number of aircraft stationed in the German capital, due to the Covid-9 crisis. It also plans to withdraw from domestic air traffic, German union Verdi said in a statement on Wednesday.

The union stated that the airline will reduce the number of aircraft stationed in Berlin from 34 to 18 by the end of 2020. The airline is planning to halve the number of employees from about 1,540.

easyJet said in May that it would launch an employee consultation process on proposals to reduce staff numbers by up to 30 percent.

On Tuesday, Airbus (EADSF.PK,EADSY.PK) said it plans to cut 15,000 jobs worldwide, after a nearly 40 percent drop in commercial aircraft business activity in recent months due to the Covid-9 crisis.

Airbus also said that it doesn’t expect air traffic to return to pre-Covid-19 levels before 2023 and potentially as late as 2025.

Airbus plans to cut 5,100 jobs in Germany, 5,000 in France, 1,700 in the U.K., 900 in Spain and 1,300 jobs at its other worldwide sites.