Business

In response to the coronavirus pandemic, European banks are providing financial support by allowing mortgage payment delays. Banks in Italy and the UK, including RBS, Lloyds, and TSB, are offering flexible options to help customers facing income disruptions due to COVID-19.

Dutch brewer Heineken is investing 865 million reais (US$183.14 million) to expand its Ponta Grossa brewery in Brazil. The investment will increase manufacturing capacity by 75%, with construction beginning this year. Despite economic challenges, Heineken views Brazil as a crucial market for sales, prioritizing growth in the region.

Rana Kapoor, founder of Yes Bank, was arrested by financial crime detectives over money laundering allegations. He is accused of criminal conspiracy and cheating involving approximately $581 million. The arrest follows the Indian Central Bank's intervention in the troubled financial institution.

Toyota expands recall of over 3 million vehicles globally, including Lexus models, due to fuel pump issues that could cause engine stalls and increase crash risk at high speeds.

International Air Transport Association warns coronavirus could devastate airline industry, projecting $113 billion in lost passenger revenue. The dramatic forecast represents a significant increase from earlier estimates, reflecting the severe economic impact of the global pandemic on international travel.

Hong Kong airline Cathay Pacific was fined nearly $1 million for a significant data breach that compromised 9.4 million passengers' personal details. The security lapse, detected in 2018, exposed names, passport information, contact details, and travel history through inadequate cybersecurity measures.

Takeda Pharmaceutical Company is developing a promising coronavirus treatment using plasma-derived therapy. The drugmaker seeks blood samples from recovered patients and vaccinated individuals, aiming to expand treatment options and combat the COVID-19 pandemic through innovative medical research.

Swiss food giant Nestle plans to plant three million trees in Mexico and Brazil by next year, collaborating with environmental nonprofits to restore ecosystems. This initiative marks the first phase of their strategy to achieve carbon neutrality by 2050, with the initial million trees expected to offset emissions from a new coffee-processing plant in Veracruz.

The coronavirus outbreak is disrupting medicine production as China, the world's largest drug ingredient manufacturer, faces factory closures. India, a major generic drug provider, warns of potential shortages due to limited chemical ingredient imports from China.

Former Microsoft software developer Volodymyr Kvashuk exploited his position testing the company's online retail sales platform to steal $10 million in digital currency. Charged with 18 federal felonies including wire fraud, money laundering, and identity theft, the 25-year-old engineer now faces potential decades in federal prison for his elaborate fraud scheme.