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April 3, 2020
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Trump says 3M ‘will have a big price to pay’ over face masks

Reuters
U.S. President Donald Trump listens during the daily coronavirus response briefing at the White House in Washington, U.S., April 2, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump slammed 3M Co (MMM.N) in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act......
Reuters - Business

German carmakers had crisis call with Merkel: Handelsblatt

Reuters
HAMBURG (Reuters) – The bosses of Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Daimler (DAIGn.DE) held a crisis call with German Chancellor Angela Merkel on Wednesday to discuss how to get production restarted, Germany’s Handelsblatt newspaper reported on Thursday. FILE PHOTO: German Chancellor Angela Merkel gives a media statement on the spread......
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Trump says he expects Saudi-Russia oil production deal in coming days

Reuters
U.S. President Donald Trump speaks as U.S. Defense Secretary Mark?Esper listens during the coronavirus daily briefing at the White House in Washington, U.S., April 1, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday he expected Saudi Arabia and Russia to reach a deal in the......
Reuters - Business

U.S. backs minimum flights on airline routes in assistance review

Reuters
WASHINGTON (Reuters) – The U.S. Transportation Department on Tuesday proposed that passenger airlines should be required to maintain minimum numbers of flights as a condition for receiving aid from the government’s $50 billion grant and loan fund. FILE PHOTO: Delta Airlines planes and a British Airways plane (2nd L) are......
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IMF extends bilateral borrowing arrangements through 2023

Reuters
FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File Photo WASHINGTON (Reuters) – The International Monetary Fund said on Tuesday its board approved a new three-year framework for bilateral borrowing agreements, ensuring that......
Reuters - Business

U.S. airlines must suggest possible compensation for cash grants: Treasury

Reuters
WASHINGTON/CHICAGO (Reuters) – Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion. FILE......
Reuters - Business

U.S. stimulus package is biggest ever, but may not be big enough

Reuters
BOSTON/WASHINGTON (Reuters) – The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and other borrowers with less than......
Reuters - Business

Virgin Atlantic asks UK government for financial help: source

Reuters
FILE PHOTO: A Virgin Atlantic Airbus comes in to land at Heathrow aiport in London, Britain, June 25, 2018. REUTERS/Toby Melville/File Photo LONDON (Reuters) – Virgin Atlantic has asked the UK government for emergency financial help in addition to the coronavirus package made available to all British companies, said a......
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

Pence says virus taskforce soon to deliver recommendation on whether to re-open economy

Reuters
FILE PHOTO: Vice President Mike Pence addresses the coronavirus task force daily briefing at the White House in Washington, U.S., March 24, 2020. REUTERS/Jonathan Ernst (Reuters) – Vice President Mike Pence, heading the Trump administration’s response to the coronavirus outbreak, said on Saturday that he would deliver a recommendation to......
Reuters - Business

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

Reuters
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......
Reuters - Business

Treasury: U.S. will be ‘compensated’ for assistance to airlines

Reuters
WASHINGTON (Reuters) – U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will “compensated” for providing up to $25 billion in direct grants to the airline industry. FILE PHOTO: Treasury Secretary Steve Mnuchin takes a phone call in the hall outside a meeting to wrap up work on coronavirus......
Reuters - Business

U.S. airlines cheer government relief but warn it is no ‘cure’ for deep industry crisis

Reuters
CHICAGO (Reuters) – United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action. Delta Air Lines passenger planes are seen parked due to flight......
Reuters - Business

U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives

Reuters
CHICAGO (Reuters) – U.S. airlines expect to learn the terms of federal aid meant to protect workers’ payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc (UAL.O) said on Friday. Under a relief bill......
Reuters - Business

U.S. House leaders determined to pass $2.2 trillion coronavirus bill

Reuters
WASHINGTON (Reuters) – Leaders of the U.S. House of Representatives are determined to pass a $2.2 trillion coronavirus relief bill on Friday, or at the very latest on Saturday, hoping to provide the quickest help possible as deaths mount and the economy reels. On a call with fellow Democrats on......
Reuters - Business

U.S. House sets Friday debate for coronavirus aid bill

Reuters
WASHINGTON (Reuters) – The U.S. House of Representatives will begin a two-hour debate on a sweeping, $2.2 trillion coronavirus aid bill at 9 a.m. (1300 GMT) on Friday but it was not clear whether the measure would be able to pass on a voice vote, the House Majority Leader’s office......
Reuters - Business

Pelosi expects bipartisan House vote for $2 trillion coronavirus bill Friday

Reuters
WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi said she expected the chamber to pass an estimated $2.2 trillion coronavirus relief bill when it meets on Friday, after the Senate overwhelmingly approved the unprecedented economic rescue legislation Wednesday evening. “Tomorrow we’ll bring the bill to the floor. It will pass......
Reuters - Business

IATA pleads for more help for airlines after U.S. offers $58 billion aid

Reuters
DUBAI/SINGAPORE (Reuters) – The International Air Transport Association (IATA) on Thursday urged the world’s major economies to act quickly to prevent irreversible damage to an airline industry that has seen demand crushed by the coronavirus crisis. A number of governments have already stepped in to help airlines hammered by the......
Reuters - Business

Mnuchin says Americans to get coronavirus aid within three weeks

Reuters
U.S. Secretary of the Treasury Steven Mnuchin walks from a meeting during negotiations on a coronavirus disease (COVID-19) relief package on Capitol in Washington, U.S., March 23, 2020. REUTERS/Joshua Roberts WASHINGTON (Reuters) – Americans should receive cash payments within three weeks to help offset the financial hardships of the coronavirus......
Reuters - Business

U.S. Senate votes to grants struggling aviation sector big bailout

Reuters
WASHINGTON/CHICAGO (Reuters) – The U.S. Senate voted late Wednesday 96-0 to give the U.S. aviation industry $58 billion in aid, half in the form of grants earmarked to cover some 750,000 employees’ paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history. American Airlines......

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