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March 29, 2020
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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: 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

Exclusive: Qatar Airways says it will need state support as cash runs out

Reuters
DUBAI (Reuters) – Qatar Airways will have to seek government support eventually, Chief Executive Akbar al-Baker told Reuters on Sunday, warning that the Middle East carrier could soon run out of the cash needed to continue flying. FILE PHOTO: Qatar Airway’s Chief Executive Officer, Akbar Al Baker speaks at the......
Reuters - Business

Mexico’s President says will comply with public vote to halt brewery project

Reuters
FILE PHOTO: Bottles of the beer, Corona, a brand of Constellation Brands Inc., sit on a supermarket shelf in Los Angeles, California April 1, 2015. REUTERS/Lucy Nicholson/File Photo MEXICO CITY (Reuters) – Mexico’s President Andres Manuel Lopez Obrador on Saturday said his government will comply with a public consultation to......
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

Airbnb hosts to provide free rooms for British health workers

Reuters
FILE PHOTO: Small toy figures are seen in front of diplayed Airbnb logo in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) – Airbnb hosts will provide free rooms for workers in Britain’s National Health Service (NHS) to support their work during the coronavirus outbreak, the company said......
Reuters - Business

Exclusive: Amazon entices warehouse employees to grocery unit with higher pay

Reuters
(Reuters) – Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters. FILE PHOTO: Small toy figures are seen in front of diplayed Amazon logo in......
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

Wall Street Week Ahead: Fund rebalancing could help buoy stock rebound

Reuters
NEW YORK (Reuters) – Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) near the close......
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

Bipartisan majority of Americans reject Trump idea to reopen by Easter: Reuters/Ipsos poll

Reuters
NEW YORK (Reuters) – A bipartisan majority of Americans appear to reject an idea floated by President Donald Trump to reopen businesses by Easter, according to a Reuters/Ipsos poll, which also showed that nearly one in four have been laid off or furloughed during the coronavirus outbreak. Crowds of people......
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

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......
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

Wall Street tumbles as U.S. virus cases pass 100,000

Reuters
(Reuters) – Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. U.S. stocks deepened their losses late in the session, even after the House of Representatives approved a......
Reuters - Business

Almost one in four Americans lost job or furloughed because of coronavirus: Reuters/Ipsos poll

Reuters
NEW YORK (Reuters) – Nearly one in four U.S. adults said they have been laid off or furloughed during the coronavirus outbreak, yet a bipartisan majority of Americans wants businesses to remain closed to slow the spread of the deadly virus despite its impact on the economy, according to a......
Reuters - Business

Stocks down on virus’ economic toll; dollar falls further

Reuters
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......
Reuters - Business

U.S. consumer sentiment near three-and-a-half year low, spending sluggish

Reuters
WASHINGTON (Reuters) – U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists’ expectations of a deep recession. The reports on Friday followed data on Thursday that showed the number of Americans......
Reuters - Business

Global oil refiners shut down as coronavirus destroys demand

Reuters
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......
Reuters - Business

From quills to qwerty: Lloyd’s underwriters adapt to home working

Reuters
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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