Airlines are in big trouble. The airline sector could be facing the worst crisis in its history. United Airlines says it expects to record $1.5 billion less revenue in March 2020 than in March 2019 and American Airlines said it is preparing to reduce its international routes by 75 percent until May 6.  Lufthansa will not pay a 2019 dividend because of the coronavirus. The Scandinavian company SAS AB will lay off about 10,000 employees, or 90% of its total workforce, after having stopped most of its flights.

Apple fined in France. The French Competition Authority announced today that it has fined Apple 1.1 billion euros for illegal agreements with distributors and "abuse of economic dependence". This comes as the tech giant announced the closure of all its stores, except those in China, until March 27 due to the coronavirus.

TUI asks for help. TUI AG will appeal to the guarantee of the German state to overcome the challenge of the coronavirus. Yesterday the group announced the suspension of most of its travel operations until further notice. The 2020 forecast has of course been cancelled. The group stresses that it has €1.4bn in liquid assets and that it is doing everything possible to limit cash consumption. Recourse to the public guarantee offers more flexibility.

A page is being turned. Bill Gates will leave Microsoft's board of directors to devote more time to philanthropic activities, but will remain technical advisor to the company he created. "It has been a tremendous honor and privilege to work and learn with Bill over the years," said Satya Nadella, Microsoft's CEO.

No more queuing at the checkout counter. Amazon.com is courting major retailers like Walmart and Target to promote its cashless store technology, according to the Wall Street Journal. A few days ago, several articles were published about the e-commerce giant's ambitions in this new specialty.

In other news. Roche's non-essential employees are working from home, but it leaves its facilities open and maintains production and operations. Nike is temporarily closing many stores around the world, including in the United States. Ferrari suspends production at its factories in Maranello and Modena for two weeks due to supply difficulties. The Jungfraubahn trains are at a standstill, with short-time work in sight. OC Oerlikon wins three contracts in China. The major US banks have stopped their share buyback program to have additional resources to irrigate the economy. Numerous general meetings are postponed throughout the world.