The owner of British Airways and easyJet, Europe’s no.3 and no.4 airlines, warned aircraft would be grounded on an unprecedented scale in a battle to survive the coronavirus, but while easyJet said state aid was needed, BA’s owner talked of self-help.
Airlines made unprecedented cuts to flights, costs and staffing on Monday, and stepped up calls for emergency government aid, as coronavirus lockdowns and new travel restrictions hit more major routes.
Fiat Chrysler Automobiles (FCA) is halting production for two weeks at most of its European plants to help protect staff against the coronavirus pandemic and adjust to a slump in demand, the Italian-American carmaker said on Monday.
Wall Street looked set to crater on Monday after the Federal Reserve’s aggressive move to cut interest rates to nearly zero heightened fears of the economy tipping into a coronavirus-driven recession.
France’s competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behavior in its distribution network and an abuse of economic dependence on its resellers.
S&P 500 futures fell 4.77% to hit a daily down limit in early trading, and S&P 500 ETFs plunged 9%, suggesting the benchmark index would set off a 15-minute cutout at 7% put in place to prevent another 1987 “Black Monday”-style crash. Central banks in the United States, Japan, Australia and New Zealand announced sweeping monetary easing in a co-ordinated effort not seen since the 2008 financial crisis, but failed to shore up global investor sentiment. The extent of the action, taken ahead of the Fed’s regularly scheduled meeting set for Tuesday and Wednesday, spooked investors following …read more […]
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We’ll show how you can use… …read more […]
U.S. Treasury yields fell on Monday but remained above recent multi-year lows, after the Federal Reserve stepped in with sweeping measures to protect the economy in the face of the coronavirus outbreak. Global central banks moved aggressively on Sunday to buttress a world economy that’s rapidly unraveling. The Fed slashed interest rates to near zero, pledged hundreds of billions of dollars in asset purchases and backstopped foreign authorities with the offer of cheap dollar financing. …read more […]
France’s competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behavior in its distribution network and an abuse of economic dependence on its resellers. Apple wholesalers Tech Data and Ingram Micro were also fined 76 million and 63 million euros, respectively, for unlawfully agreeing on prices, the authority said. “Apple and its two wholesalers have agreed not to compete with each other and to prevent distributors from competing with each other, thereby sterilizing the wholesale market for Apple products,” the authority’s head Isabelle de Silva said. …read more […]
The U.S. Federal Reserve and its global counterparts moved aggressively with sweeping emergency rate cuts and offers of cheap dollars to help combat the coronavirus pandemic that has jolted markets and paralyzed large parts of the world economy.
Argentina’s ambitious target to strike a deal with bondholders to revamp almost $70 billion in debts by the end of March was never going to be easy. Now a coronavirus outbreak and crashing bond markets threaten to complicate things further.
Wall Street looked set to crater on Monday as fears of a coronavirus-driven recession intensified following a second emergency interest rate cut in a fortnight by the Federal Reserve.
Top news and what to watch in the markets on Monday, March 16, 2020. …read more […]
The three major airline alliances — Star, SkyTeam and oneworld — on Monday jointly called on governments and stakeholders to extend extraordinary support to airlines to alleviate pressure caused by the coronavirus outbreak.
(Bloomberg) — A measure of fear in U.S. stocks surged to the highest since 2009, surpassing last week’s peak as an emergency move by the Federal Reserve to ease policy did little to calm markets on edge over the spreading coronavirus.The generic front-month futures contract for the CBOE Volatility Index jumped as high as 57.9 on Monday. The gauge measures traders’ expectations for where the VIX will trade a month from now.Wall Street’s fear barometer, which tracks the 30-day implied volatility of the S&P 500 based on out-of-the-money options prices, wasn’t quoted as of 9:15 a.m. London time. A notice …read more […]
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