PRESS DIGEST-Financial Times - March 31
March 31 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- Airbnb pledges to cover some virus cancellation costs https://on.ft.com/39wDWEO
- Macy's, Gap and Kohl's put thousands on leave https://on.ft.com/33VYxkU
- Aston Martin opens $100m credit line to avert cash crunch https://on.ft.com/3dMlN9J
- UK to spend up to £75m chartering flights for stranded Britons https://on.ft.com/2QZtCyR
Overview
- Airbnb on Monday said in a letter that it will pay out $250 million to hosts to cover the costs incurred for them because of coronavirus cancellations as co offered all guests a 100 percent refund for cancellations if their plans were disrupted by travel bans and other government restrictions.
- U.S. retailers Macy's Inc, Gap Inc and Kohl's Corp announced on Monday that tens of thousands of its workers would be temporarily laid off, as extended restrictions to contain coronavirus would keep stores closed longer than previously thought.
- Carmaker Aston Martin has opened a fresh $100 million credit line in addition to a £500 million pound ($618.40 million) rescue package backed by Canadian billionaire Lawrence Stroll after warning the business will run out of money for its current spending plans within 12 months.
- Britain's foreign secretary Dominic Raab, unveiled a £75 million pound package on Monday to help tens of thousands of Britons stranded overseas to return home on hundreds of chartered flights, assisted by airlines including Virgin, easyJet, Jet2 and Titan Airways. ($1 = 0.8085 pounds) (Compiled by Bengaluru newsroom)
