From Jersey City on the East Coast to Los Angeles on the West Coast, American shoppers picked grocery store shelves clean on products ranging from disinfectants to rice, causing retailers to race to restock their stores as the worsening coronavirus crisis stoked fears of shortages.
As U.S. financial markets reel from a week of historic swings, industry veterans are drawing on memories from their earliest years on Wall Street, while younger professionals are looking to lessons from history books.
A relentless barrage of bad news surrounding the coronavirus epidemic has begun to affect customer visits at some U.S. auto dealers and even those businesses that have thrived so far believe a big sales decline is imminent if China’s experience is any guide.
President Donald Trump declared a U.S. national emergency over the quickly spreading coronavirus on Friday, opening the door to more government aid to combat a pathogen that has infected more than 138,000 people worldwide and left over 5,000 dead.
Wall Street staged a furious rally in the waning moments of the session on Friday after U.S. President Donald Trump declared a national emergency to combat the rapidly spreading coronavirus, although major averages still suffered sharp losses for the week.
The International Monetary Fund and World Bank Group on Friday advised their Washington headquarters staff to work from home after an IMF employee was diagnosed with COVID-19, the disease caused by the coronavirus.
(Bloomberg) — President Donald Trump told U.S. energy officials to purchase “large amounts” of oil to fill up the nation’s emergency reserve after the biggest price crash in a generation.Replenishing the Strategic Petroleum Reserve — as proposed by some oil lobbyists earlier this week in light of the collapse in prices — would enable the government to take as much as 77 million barrels off the world market.Oil prices jumped after Trump’s announcement, paring their worst weekly performance since 2008. Still, the purchases are unlikely to be able to offset the supply boost major producers such as Russia and Saudi …read more […]
The U.S. Federal Aviation Administration (FAA) said on Friday it has begun a probe following an in-flight incident involving an older 737 aircraft manufactured by Boeing Co and flown by Southwest Airlines .
German flagship carrier Lufthansa on Friday said it would scrap its annual dividend, slash its flight schedule further and is also considering a request for state aid to help it deal with the impact of the coronavirus outbreak.
Corporate America joined the fight against the spread of coronavirus on Friday, as President Donald Trump and executives announced that Google would offer a website to help people determine whether they needed tests and retailers set up drive-through tests in parking lots.
Major sports events around the world that have been hit by the coronavirus outbreak:
Boeing Co’s suppliers, already reeling from a 737 MAX grounding one year ago on Friday, face an even slimmer workload as flight cancellations spurred by the spreading coronavirus mean less airline demand for spare parts and services.
A gauge of stocks across the globe bounced back on Friday led by a late rally on Wall Street, after U.S. President Donald Trump freed $50 billion to tackle the novel coronavirus pandemic.
Warren Buffett’s Berkshire Hathaway Inc said on Friday that Microsoft Corp co-founder Bill Gates is retiring from the conglomerate’s board of directors, and is expected to be replaced by Kenneth Chenault, who spent 17 years as chief executive of American Express Co .
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