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March 29, 2020

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Three months that shook global markets

Reuters
by Reuters01
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......
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Chanel turns its workshops to making face masks as coronavirus spreads

Reuters
by Reuters02
FILE PHOTO: Chanel logo is seen on the company’s store in Monte Carlo, Monaco, December 9, 2017. REUTERS/Eric Gaillard/File Photo PARIS (Reuters) – Luxury fashion group Chanel said on Sunday it would launch production of face masks to help bolster supplies in France, as the coronavirus sweeps across the country.......
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Airbnb hosts to provide free rooms for British health workers

Reuters
by Reuters00
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......
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Factbox: Carmakers churn out machines, masks to help fight coronavirus

Reuters
by Reuters04
(Reuters) – Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated ventilator systems – to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia. Here......
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European airlines resist mounting coronavirus refund claims

Reuters
by Reuters01
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 Reuters06
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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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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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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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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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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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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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

Instant View: U.S. jobless claims balloon to record on coronavirus impact

Reuters
by Reuters010
NEW YORK (Reuters) – The number of Americans filing claims for unemployment benefits shot to record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the......
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EU lawmakers to approve aid for coronavirus-hit economy in remote vote

Reuters
by Reuters04
European Commission President Ursula von der Leyen speaks during a special session of the European Parliament to approve special measures to soften the sudden economic impact of coronavirus disease (COVID-19), in Brussels, Belgium March 26, 2020. REUTERS/Francois Lenoir BRUSSELS (Reuters) – European Union lawmakers are expected on Thursday to approve......
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Ten signs the oil industry is bent out of shape

Reuters
by Reuters06
(Reuters) – The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals. FILE PHOTO: The sun sets behind a crude oil......
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Asian stocks scratch gains but lose steam on U.S. job jitters

Reuters
by Reuters06
SINGAPORE (Reuters) – Asian stocks eked out gains on Thursday, but the week’s rally lost steam as investors seemed torn between relief at the agreement of a huge U.S. stimulus package and dread over a likely spike in jobless claims and coronavirus cases. After last-minute negotiations, the Senate backed a......
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Reuters - Business

Asian stocks scratch gains but lose steam on U.S. job jitters

Reuters
by Reuters05
SINGAPORE (Reuters) – Asian stocks eked out gains on Thursday, but the week’s rally lost steam as investors seemed torn between relief at the agreement of a huge U.S. stimulus package and dread over a likely spike in jobless claims and coronavirus cases. After last-minute negotiations, the Senate backed a......
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