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Three months that shook global markets

Reuters
LONDON (Reuters) – How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression. FILE PHOTO: An empty street is seen near Wall street during the outbreak of the......
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Macy’s, Kohl’s, Gap turn to mass furloughs as virus crisis deepens

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(Reuters) – Major U.S. retailers Macy’s Inc (M.N), Kohl’s Corp (KSS.N) and Gap Inc (GPS.N) said on Monday they would furlough tens of thousands of employees, as they prepare to keep stores shut for longer to curb the spread of the coronavirus outbreak. Kohl’s also said it would suspend its......
Reuters - Business

Graphic: Three months that shook global markets

Reuters
LONDON (Reuters) – How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression. FILE PHOTO: The final numbers of the day are displayed above the floor of the......
Reuters - Business

Three months that shook global markets

Reuters
LONDON (Reuters) – How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression. FILE PHOTO: The final numbers of the day are displayed above the floor of the......
Reuters - Business

Governments, central banks must boost efforts to help economies cope with crisis: BIS chief

Reuters
LONDON (Reuters) – Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday. FILE PHOTO: Bank of Mexico Governor Agustin Carstens gestures during the delivery quarterly report from......
Reuters - Business

European airlines resist mounting coronavirus refund claims

Reuters
PARIS (Reuters) – European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers. FILE PHOTO: An Air France Boeing 777 aircraft takes off at Paris Charles de Gaulle airport, following the coronavirus disease (COVID-19) outbreak, in Roissy-en-France, France March 16, 2020. REUTERS/Benoit......
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Fed sets fee structure for BlackRock’s role in mortgage bond purchases

Reuters
FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson NEW YORK (Reuters) – BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases......
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‘Maximum bearish’: funds in record rush to cash in past week

Reuters
LONDON (Reuters) – Investors rushed into cash and out of bonds at a record pace over the past week as the coronavirus pandemic caused mayhem in markets, BofA said on Friday, though it noted a key positioning signal at “maximum bearish” could signal a big rally ahead. FILE PHOTO: A......
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Volkswagen urges ECB to buy short-term debt to stabilize markets: FT

Reuters
FRANKFURT (Reuters) – Volkswagen’s (VOWG_p.DE) chief financial officer called on the European Central Bank (ECB) to accelerate purchases of short-term debt, the Financial Times reported on Friday. FILE PHOTO: Volkswagen logo is seen at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Lucy Nicholson The German......
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Singapore Airlines latest to get massive bailout amid coronavirus crisis

Reuters
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: A Singapore Airlines plane sits on the tarmac......
Reuters - Business

Singapore Airlines secures $13 billion to survive coronavirus and grow after

Reuters
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: An Airbus A380-800 aircraft of Singapore Airlines takes......
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Oil majors slash 2020 spending 20% after prices slump

Reuters
LONDON (Reuters) – The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia. FILE PHOTO: The sun is seen behind a......
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Airbnb holds meeting with bankers to extend $1 billion debt facility: source

Reuters
(Reuters) – Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown due to the coronavirus, a source who participated in the meeting said.  FILE PHOTO: The Airbnb logo is seen on......
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SoftBank Group’s share rally ends after Moody’s downgrade

Reuters
FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo TOKYO (Reuters) – SoftBank Group Corp’s (9984.T) shares fell 8% in early trade on Thursday, ending a 55% rally in the stock, after Moody’s downgraded......
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Exclusive: ECB’s Lagarde asked euro zone ministers to consider one-off ‘coronabonds’ issue – officials

Reuters
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski BRUSSELS (Reuters) – The head of the European Central Bank Christine Lagarde asked euro zone finance ministers at a......
Reuters - Business

SoftBank shares jump 20% on record buyback announcement

Reuters
TOKYO/HONG KONG (Reuters) – SoftBank Group Corp (9984.T) stock jumped 20% on Tuesday, extending a run that began a day earlier when the Japanese tech investor announced up to $41 billion in asset sales and a record share buyback to shore up its collapsing share price. FILE PHOTO: The logo......
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Fed’s big move could help U.S. Treasury liquidity, but effects may not last long

Reuters
NEW YORK (Reuters) – The Federal Reserve’s unparalleled steps to directly backstop the U.S. economy and its willingness to purchase vast sums of U.S. government debt, mortgage-backed securities and even corporate bonds could help boost depleted liquidity in the $17-trillion Treasury market. FILE PHOTO: A test tube labelled with the......
Reuters - Business

SoftBank plans $41 billion of asset sales to expand buyback and cut debt

Reuters
TOKYO (Reuters) – SoftBank Group Corp (9984.T) plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies. The Japanese tech conglomerate’s plans come as it......
Reuters - Business

U.S. credit spreads narrow after unprecedented Fed stimulus

Reuters
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo NEW YORK (Reuters) – U.S. corporate credit spreads narrowed on Monday, indicating positive investor sentiment, following the Federal Reserve’s announcement that it would backstop an unprecedented range of credit. The......
Reuters - Business

Airbus adds 15 billion euro credit line, scraps dividend

Reuters
PARIS (Reuters) – Airbus (AIR.PA) boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet. FILE PHOTO: An Airbus A330neo on its final assembly line......

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