Credit Suisse sharply lowered its forecast for Mexico’s economic performance this year and now expects a 4.0% contraction, according to a note sent to the bank’s clients on Tuesday, adding to a series of downgrades since the coronavirus spread.
Avigan, also known as Favipiravir, is manufactured by a subsidiary of Fujifilm, which has a healthcare arm though it is better known for its cameras. The treatment was approved for use in Japan in 2014. Favipiravir has been effective, with no obvious side-effects, in helping new coronavirus patients recover, Zhang Xinmin, an official at China’s Science and Technology Ministry, told reporters at a news conference on Tuesday. …read more […]
Shares in Japanese company Fujifilm Holdings Corp were untraded due to a glut of buy orders after Kyodo news agency reported on Wednesday that China said the company’s Avigan drug works against coronavirus.
(Bloomberg) — U.S. stock futures dropped and the yen advanced in early Wednesday trading in Asia, retracing some of the previous day’s moves as traders continue to test where fundamental valuations lie amid rapidly changing news flow.Asian stocks opened mixed, with the Sydney market down more than 3.5%, while shares in Tokyo edged higher. The S&P 500 Index gained 6% earlier. Australian and Japanese bond yields climbed after a tumble in Treasuries Tuesday. As the Trump administration moves toward a big fiscal package, Treasury Secretary Steven Mnuchin warned the coronavirus could send U.S. unemployment up to 20% without government intervention. …read more […]
Boeing Co on Tuesday called for a $60 billion lifeline for the struggling U.S. aerospace manufacturing industry, which faces huge losses from the coronavirus pandemic.
Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
H&M is temporarily closing all its 460 stores in Germany, its number one market for sales, and all 590 in its second largest market the United States, due to the coronavirus outbreak.
British supermarket group Sainsbury’s is to restrict customer purchases to combat panic buying, close its in-store cafes and counters and beef-up online services to get it through the coronavirus crisis, it said on Wednesday.
Credit Suisse sharply lowered its forecast for Mexico’s economic performance this year and now expects a 4.0% contraction, citing “significant downside risks,” according to a note sent to the bank’s clients on Tuesday.
German sportswear maker Adidas on Tuesday joined rivals in announcing store closures in response to the coronavirus pandemic.
Delta Air Lines has received over 4,500 requests from flight attendants for voluntary unpaid leave in April, according to a March 14 paper seen by Reuters.
People familiar with the matter said the move was prompted by the depressed travel demand caused by the rapid spread of the coronavirus. The number of take-ups has now topped 5,000 since the window for requests was extended, they said. Flight attendants can also bid until March 30 for voluntary leave in the month of May, for May and June, or for May, June and July, according to a separate memo seen by Reuters. …read more […]
Credit Suisse sharply lowered its forecast for Mexican economic growth this year and now expects a 4.0% contraction, citing “significant downside risks,” according to a note sent to the bank’s clients on Tuesday.
The U.S. Federal Reserve moved Tuesday to ensure the flow of credit to U.S. companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the coronavirus crisis.
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