Shattered airlines were left counting the cost of government support as politicians in the United States and New Zealand set out conditions for bailouts needed to absorb the shock of coronavirus.
Asian shares staged a rare rally on Friday as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though the panicked rush into U.S. dollars suggested the crisis was far from done.
U.S crude oil prices edged higher on Friday, extending gains after a 24% jump the previous day, buoyed by hints from U.S. President Donald Trump he may intervene in the price war between Saudi Arabia and Russia at an “appropriate time.”
U.S crude oil prices edged higher on Friday, extending gains after a 24% jump the previous day, buoyed by hints from U.S. President Donald Trump he may intervene in the price war between Saudi Arabia and Russia at an “appropriate time.” U.S. crude and global benchmark Brent have both collapsed about 40% in the last two weeks since talks between the Organization of the Petroleum Exporting Countries and its allies, including Russia, broke down which led Saudi Arabia, the world’s biggest oil exporter, to ramp up supply. The more active West Texas Intermediate (WTI) crude futures contract …read more […]
Latin America’s major airlines sharply curtailed international flights on Thursday because of the coronavirus outbreak as Panama and Colombia imposed month-long travel bans and the largest carrier cut the salaries of 43,000 employees.
Big-box retailer Walmart Inc said on Thursday it would hire more than 150,000 hourly workers in the United States, citing a jump in shoppers due to the coronavirus pandemic.
China’s aviation regulator has asked airlines to cut international flights and ordered some Beijing ones to be rerouted, as the country grapples with a rising number of imported coronavirus cases, especially in the capital.
Walt Disney Co , JPMorgan Chase & Co and United Parcel Service Inc were among seven major U.S. companies that accepted a big rise in their borrowing costs to issue bonds on Thursday, as the coronavirus outbreak roiled credit markets.
Luxury automaker Jaguar Land Rover said late on Thursday it would temporarily suspend production at its UK manufacturing facilities from next week to curb the coronavirus’ spread.
Colombia will block entry to everyone traveling from abroad from midnight on Monday in an effort to control the spread of coronavirus, President Ivan Duque said on Thursday.
Confirmed coronavirus cases in Brazil surged past 600 on Thursday, more than doubling in two days, as a diplomatic spat over the disease’s origins between President Jair Bolsonaro’s son and the Chinese ambassador threatened relations with Brazil’s top trading partner.
From Brazil to Norway, policymakers are leaping to defend currencies against the onslaught of the dollar which scaled three-year peaks on Thursday, raising speculation that a joint move by the world’s biggest central banks may be in the offing.
(Bloomberg) — Oil traders struggling to navigate one of the biggest oil crashes in history say the worst is yet to come.Even after plunging about 60% this year to the lowest since 2003, prices will likely drop further to $20 a barrel or below, according to a survey of traders from some of the world’s biggest oil companies and merchants. Analysts from Goldman Sachs Group Inc. to Citigroup Inc. also expect prices to extend declines in the coming months, with some even speculating certain regional prices could go negative as markets try to send signals to halt supply.Oil has been …read more […]
Bentley will stop car production at its British factory from the end of Friday for four weeks over the coronavirus outbreak, one of the final automakers in Britain to announce such plans.
(Bloomberg) — Apple Inc. kept its business rolling through the coronavirus pandemic this week by launching a new iPad Pro and two new Macs. But that doesn’t mean its supply chain is in the clear.Deliveries of the new products will begin arriving on doorsteps next week. However, production of those devices likely started in early January, before the worst effects of China’s virus lockdown in February, according to people familiar with Apple’s supply chain.With a fresh round of supplier factory closures enforced by Malaysia, and the virus disrupting operations in much of the rest of the world, the iPhone maker’s …read more […]
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