New Orleans fights to keep famous music scene alive amid lockdown

After weeks of isolation, the music community is using its creativity to find an audience and keep the city’s soul alive.

From the annual Mardi Gras celebration, to its normally buzzing Bourbon Street, the art and music of New Orleans have always brought people together.

Now, after weeks of isolation, the music community is using its creativity to find an audience and keep the city’s soul alive.

Al Jazeera’s Heidi Zhou-Castro has more.

42 West Parent Dolphin Entertainment Takes $2M In Paycheck Protection Program (PPP) Loans

Dolphin Entertainment, the parent of 42 West said it took a total of $2 million in loans under the government’s Paycheck Protection Program (PPP) including $725 million for the public relations powerhouse.

MORE

Widespread Vernon, B.C., parking meter vandalism creating major costs for municipality

Vernon city council has approved a $225,000 plan to repair and upgrade parking meters after more than 350 of the meters were damaged by vandals or thieves.

Damage to city parking meters has been a recurring issue this year.

British Airways Announce Plans To Cut Nearly 12,000 Jobs

International Consolidated Airlines Group SA (IAG), the parent company of British Airways, has announced plans to cut nearly 12,000 jobs at the UK carrier as Covid-19 pandemic continues to wreak havoc on the aviation industry.

In a statement, IAG said, “The proposals remain subject to consultation, but it is likely that they will affect most of British Airways’ employees and may result in the redundancy of up to 12,000 of them.”

IAG added that it would take several years for the passenger demand to recover to 2019 levels. IAG also owns Spanish airline Iberia and Ireland’s Aer Lingus.

Airline companies have been struggling as the coronavirus lockdown has grounded almost all the planes around the world. British Airways had furloughed more than half of its 45,000 workers. British Airways had earlier also reached agreement with its 4,000 pilots to take four weeks of unpaid leave in April and May.

British Airways CEO Alex Cruz wrote in a letter to staff: “In the last few weeks, the outlook for the aviation industry has worsened further and we must take action now. We are a strong, well-managed business that has faced into, and overcome, many crises in our hundred-year history. We must overcome this crisis ourselves, too.”

Nissan Motor Cuts FY19 Outlook – Quick Facts

Nissan Motor Co., Ltd. (NSANF.PK,NSANY.PK) stated that its consolidated earnings for the fiscal year ended March 31, 2020, may differ by more than 30% from the previous financial forecast announced on February 13, due to the negative impact of the COVID-19 pandemic and the possible booking of a one-time loss.

On February 13, Nissan projected an operating profit of 85 billion yen and net income of 65 billion yen. Nissan may report a consolidated operating profit that is 120 billion to 130 billion yen lower and net income that is 150 billion yen to 160 billion yen lower than the February 13 forecast.

Nissan will delay its announcement on fiscal year financial results and revised midterm plan from middle of May to May 28, 2020.

Ford CEO: Ventilators will be built across a big supply chain

New York (CNN Business)Ford lost $2 billion in the first quarter, and it warned investors Tuesday that its finances will be far worse in the current quarter.

The company it expects a loss before interest, taxes and special items to reach $5 billion in the quarter, compared to a $632 million loss on that basis in the just-completed quarter. Ford (F) posted a narrow profit in South America but lost money in every other region, posting a $1.9 billion adjusted operating loss in North America.
Revenue in the first quarter fell 15% to $34.3 billion, as the number of cars sold fell 21%. It also said it burned through $2.2 billion in the quarter, but because of additional borrowing it had $34 billion in cash on hand as of last Friday. Its borrowing came from drawing down $15 billion from existing lines of credit and issuing $8 billion in bonds.

This is a difficult time for all automakers. Besides having to suspend production at their factories around the world, many dealerships have been shut because of governmental stay-at-home orders. And with millions out of work and millions more working from home, the consumers’ need and ability to buy new cars is significantly reduced.

Ana Holdings FY Net Income Declines – Quick Facts

Ana Holdings Inc. (ANA.L) reported net income to owners of parent of 27.6 billion yen for fiscal 2019, a decline of 75 percent from prior year. Operating income was 60.8 billion yen, down 63.2 percent. Operating revenue was 1.97 trillion yen, down 4.1 percent from prior year.

The company noted that, for the current fiscal year, the dividend payment will be 0 yen until it is able to project a rational forecast.

ANA has suspended and reduced the number of flights by approximately 90 percent on international routes and 70 percent on domestic routes from its initial scheduled plans.

Juniper Networks Projects Sequential Revenue, Non-GAAP Earnings Growth In Q2

Juniper Networks (JNPR) said, for the quarter ending June 30, 2020, the company projects: non-GAAP net income per share to be approximately $0.34, plus or minus $0.05; and revenue will be approximately $1.06 billion, plus or minus $50 million.

First quarter non-GAAP net income per share was $0.23 compared to $0.26, prior year. Net revenues were $998.0 million, flat year-over-year.

The Board has declared a cash dividend of $0.20 per share to be paid on June 22, 2020 to shareholders of record as of the close of business on June 1, 2020. The company said it remains committed to paying dividend.