"We're not sure how we're going to get back out of it at the end of all of this."

That was our guest Arnie Waterman, a retired journalist in the Republic of Ireland who spoke to us about the economic impact of the country entering another "Level 5" lockdown. As you can see, he has some misgivings about the process – especially with unemployment already high in his native Donegal. 

Our top story today is the losses recorded by IAG, the group that owns British Airways, Iberia, and Aer Lingus among others. It lost $1.53 billion in the latest quarter - although American Airlines also lost $2.4 billion, so no one should think this is a limited or even just European issue. 

Sticking with the U.S. briefly, although the COVID-19 pandemic has (quite rightly) dominated news pages and public attention since the start of the year, a landmark settlement has been reached with Purdue Pharma, the firm that many accuse of having a hand in the opioid epidemic which still grips much of the U.S. It will pay more than $8 billion, but some analysts have criticized the Department of Justice for accepting a financial deal. 

Finally, what links Don Quixote and the European Commission? 

I'll warn you now, there's no prize, but watch today's video to find out… (clue: it goes very well with olives). 

Happy reading and watching, 

Patrick Atack

Digital business correspondent 

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IAG, which owns British Airways and Iberia, said the group as a whole will fly around 30 percent of scheduled flights before 2021, as it reported a loss of $1.53 billion between July and September this year. In the same period in 2019, it made a profit of $1.6 billion. Revenues for the period also dropped by a huge 83 percent. 

The UK's finance minister, Rishi Sunak, has unveiled a new financial relief scheme for people in jobs affected by new pandemic restrictions. The state could pay a maximum of 67 percent of salaries, but for those under "Tier 2' restrictions, that drops to less than 50 percent. 

Purdue Pharma, the controversial firm behind the opiate painkiller OxyContin has settled with the U.S. Department of Justice for $8.3 billion and will state it enabled the supply of drugs "without legitimate medical purpose," after prosecutors charged the firm for its role in the ongoing U.S. opiate epidemic.

Global soft drinks leader The Coca-Cola Company recorded expectation-busting profits, up 10 percent, in its quarterly results. It also said strong direct consumer sales helped it overcome the losses of the second quarter, when many bars and restaurants were closed. While sales were still down 6 percent on the year, that number revealed a significant recovery from the 26 percent drop recorded in Q2. 

Consumer goods firm Unilever reported a 4.4 percent hike in its sales in the third quarter, with hygiene products such as the firm's Lifebuoy brand driving turnover to $15 billion. The soap and sanitizer brand has recorded sales up by around 65 percent already on 2019 figures. 

And in the luxury field, leather goods and fashion house Hermès said its sales returned to growth in the third quarter, with sales hitting $2.1 billion – up nearly 7 percent on the quarter. But sales were mainly in Asia, with European sales still stunted. 

And U.S. electric car maker Tesla has recorded a fifth straight quarter of profit - with revenues of $8.7 billion between July and September, as deliveries grew by more than 50 percent on the quarter. Despite the sales and growth, Tesla warned it would struggle to hit its target of 500,000 deliveries before year end. After months of lockdowns around the world, the three months to the end of September was when more than half of its annual deliveries were made in 2020.

Another airline to post a big loss this quarter is American Airlines, which revealed a $2.4 billion loss. Quarterly revenue was down by nearly 80 percent compared with the three months to the end of September 2019. The Texas-based flyer has tried to stem its cash exodus by furloughing 19,000 employees. 

French spirits firm Pernod Ricard warned its shareholders it does not expect to see sales and revenues recover from the pandemic until at least July 2021. While sales were down 6 percent in the latest quarter, compared with a year earlier, that's a serious improvement on the 36 percent sales slump in the three months to June.

Fast-food chain Burger King's owner Restaurant Brands International said the group would start a trial with reusable drinks and burger containers from late 2021. The company hopes customers will request the "waste-free" option with a refundable deposit through its app. The trial will begin at selected stores in the U.S. and Japan. 

Facebook said it would extend functionalities on its WhatsApp messaging app in 2021. In-app purchases and hosting services will be offered to users, as Facebook moves to monetize the app which is currently free to use. 

Hong Kong's Securities and Futures Commission has handed Goldman Sachs a record fine for its part in the infamous Malaysian 1MDB scandal. The bank and fund manager was found to have "serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls" according to the regulator. Billions were stolen from the Malaysian sovereign wealth fund, with some money even allegedly bankrolling Hollywood movies. 

China's Ant Group received the final nod from the country's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion dual-listing. Ant, the fintech company backed by Chinese e-commerce group Alibaba Group Holding, plans to list simultaneously in Hong Kong and Shanghai in the coming weeks, sources have told CGTN. 

British Airways customers may not fly on the airline's jumbo jets again, but screen stars may yet be seen on the famous 747 jetliner. That's after Dunsfold Airfield, in the southern UK, agreed to host and maintain the plane as a TV and movie set. It will also be open to visitors in the future. 

The Republic of Korea is in the midst of a kimchi crisis, after heavy weather destroyed much of the nation's prized cabbage crop, which is pickled and fermented to create the dish. The shortage has pushed cabbage prices up 60 percent – meaning many families who traditionally make their own kimchi have been left without the vital ingredient.

WATCH: It's Spain's most famous cheese, and it also happens to be Don Quixote's favorite. Now it has been granted protected status thanks to an EU-China agreement 🧀

Arnie Waterman, a former journalist in Ireland, spoke to CGTN about how the country is reacting to new COVID-19 restrictions. 

What are the initial reactions in Ireland to this "second lockdown?"

I think people are pretty divided on the restrictions. Level five is the highest restriction that the government can currently impose in Ireland. And many see that it has to be implemented right now in the hope that there could be an easing before Christmas time. But there are a growing number of people who believe that the impact on the economy is too great. 

Do we know the impact these new restrictions are going to have on businesses and the economy? 

Ireland officially entered a recession at the start of September. There's a growing concern among some economists that the latest restrictions could force a double-dip recession on Ireland. 

Bars may still not be able to welcome people inside their premises in time for the traditional Christmas rush.

Is this a story about poverty, in which maybe those on lower incomes are being disproportionately affected?

I'm not sure if it is. In Ireland, I think we're all taking an approach at the moment that we are trying to be in this together. However, the signals coming from government are a little bit mixed and that in itself is causing some confusion around what we should be doing. 

Certainly where I'm living in Donegal, the numbers of people who are unemployed were high before this situation kicked in. And there is a feeling that we're not sure how we're going to get back out of it at the end of all of this.

Johns Hopkins University has reported this milestone, but the French government is yet to verify the latest figures.