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March 28, 2020

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Trump tells GM: Stop ‘wasting time’, build ventilators to address coronavirus

Reuters
by Reuters03
WASHINGTON/DETROIT (Reuters) – U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of “wasting time” during negotiations. Trump, who has been on the defensive for not moving faster to compel the......
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Reuters - Business

European airlines resist mounting coronavirus refund claims

Reuters
by Reuters00
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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Stocks down on virus’ economic toll; dollar falls further

Reuters
by Reuters04
NEW YORK (Reuters) – Stocks across the globe fell on Friday after a historic three-day run-up, as skittish investors kept indices on track for their worst monthly and quarterly performances since 2008, while the dollar fell by the most in any week since 2009. Shares on Wall Street ended near......
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Oil plunges posting fifth straight weekly loss despite stimulus efforts

Reuters
by Reuters03
NEW YORK (Reuters) – Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field......
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ECB tells euro zone banks to skip payouts as virus hits economy

Reuters
by Reuters01
LONDON/FRANKFURT (Reuters) – The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic. FILE PHOTO: The skyline with its financial district is......
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Reuters - Business

Global oil refiners shut down as coronavirus destroys demand

Reuters
by Reuters01
SINGAPORE/NEW DELHI/SEOUL/LONDON (Reuters) – The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns. FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production......
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S&P cuts Airbus outlook amid concern over deliveries, advances

Reuters
by Reuters01
PARIS (Reuters) – Ratings agency Standard & Poors placed Airbus (AIR.PA) on its watch list for a possible downgrade as doubts surfaced over the future level of aircraft deliveries and advance payments from airlines battered by the coronavirus crisis. FILE PHOTO: The logo of Airbus is pictured at the aircraft......
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From quills to qwerty: Lloyd’s underwriters adapt to home working

Reuters
by Reuters02
LONDON (Reuters) – Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. FILE PHOTO: A man walks out of Lloyds of London’s headquarters in the City of London, Britain, July 31, 2018. REUTERS/Simon Dawson/File......
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‘Maximum bearish’: funds in record rush to cash in past week

Reuters
by Reuters08
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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Reuters - Business

Oil plunges more than 5% despite stimulus efforts

Reuters
by Reuters01
NEW YORK (Reuters) – Oil prices plunged more than 5% on Friday and were on track for a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. FILE PHOTO: A pump jack operates in front of a drilling rig at......
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Reuters - Business

European shares fall as investors take stock of spreading virus

Reuters
by Reuters07
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. FILE PHOTO: A general view shows the German share prize......
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Reuters - Business

Volkswagen urges ECB to buy short-term debt to stabilize markets: FT

Reuters
by Reuters04
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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Reuters - Business

Singapore Airlines latest to get massive bailout amid coronavirus crisis

Reuters
by Reuters05
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......
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Reuters - Business

Asia stocks ride stimulus hopes higher but dollar left behind

Reuters
by Reuters07
TOKYO (Reuters) – Asian stocks rose on Friday as investors wagered policymakers will roll out more stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record. FILE PHOTO: Passersby wearing protective face masks following an outbreak of the coronavirus disease (COVID-19) are reflected on a......
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Reuters - Business

Oil mixed as government pledges reach $5 trillion in coronavirus chaos

Reuters
by Reuters01
TOKYO (Reuters) – Oil prices were mixed on Friday as governments took unprecedented steps to limit the economic fallout from the coronavirus pandemic. FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford......
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Reuters - Business

European shares fall as investors take stock of spreading virus

Reuters
by Reuters06
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. FILE PHOTO: A general view shows the German share prize......
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Reuters - Business

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

Reuters
by Reuters04
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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Reuters - Business

Big banks reassure staff about potential job cuts

Reuters
by Reuters012
(Reuters) – Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back. FILE PHOTO: A sign is displayed on the Morgan......
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Reuters - Business

Online learning rockets in coronavirus pandemic, says Pearson

Reuters
by Reuters07
LONDON (Reuters) – Britain’s Pearson (PSON.L) has seen an “explosion” in demand for online learning, with traffic across its platforms quadrupling as millions of children start to adapt to home schooling during the coronavirus pandemic, its chief executive said. FILE PHOTO: A general view inside an empty classroom at a......
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Reuters - Business

Czech breweries roll back the barrels, turn to bottles and cans

Reuters
by Reuters05
PRAGUE (Reuters) – Czech breweries — including Pilsner Urquell and Budejovicky Budvar — have stopped refilling kegs and started storing their beer in cooled cellars as they seek to limit damage from pub closures caused by the coronavirus outbreak. A waitress passes a plastic bottle of beer to a customer......
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