day : 29/02/2016 2 results

Chinese Steel & Coal Sectors Set To Lose 1.8 Million Workers

Huge news coming out of China's steel and coal sectors as President Xi Jinping looks to cut industrial overcapacity and rework their state-run enterprises. Yin Weimin, Human Resources and Social Security Minister, announced today (2/29/2016) that they will lay off 1.3 million workers in the coal industry and another 500,000 in steel sectors. Without providing any additional information, Yin said the employees will be reallocating these workers over the next few years. It seems as though ...

Bombardier Facing New Obstacles

Bombardier Inc.'s C Series program continues to face headwinds as their biggest buyer for the new class of aircraft filed for bankruptcy this past week. On Thursday, Republic Airways Holdings Inc. which made up 16% of Bombardier's 243 firm C Series orders, filed for creditor protection in New York. Unfortunately this is not the first time Bombardier faced an unexpected challenge surrounding the C Series. This program is already two years late and more than $2 billion over budget and their ...