Shares in Japan’s Fujifilm Holdings Corp were untraded at their daily limit high amid a glut of buy orders on Wednesday after a Chinese official said the company’s Avigan anti-flu drug appeared to help coronavirus patients recover.
By activating emergency financing windows and by being open to adapt them as needed, the Fed took up its crisis management game several notches. For that it should be strongly commended. …read more […]
U.S. stock futures stepped back in choppy early Asian trade on Wednesday as concerns about the widening coronavirus epidemic weighed against hopes policy support would combat its economic fallout.
U.S. stock futures stepped back in choppy early Asian trade on Wednesday as concerns about the widening coronavirus epidemic weighed against hopes policy support would combat its economic fallout. U.S. stock futures fell 2.0% after the S&P 500 gained 6.00% on Tuesday, paring a little under half of its huge losses on Monday. Tuesday’s lift in the S&P 500 came as policymakers around the world cobbled together packages to counter the severe restrictions on various economy-boosting activities aiming at slowing the spread of the virus. …read more […]
Latin American airlines need prompt government aid or many of them could go out of business as the global coronavirus outbreak forces widespread flight cancellations, the chief of regional airline association ALTA said on Tuesday.
Exxon Mobil Corp paid a big premium to raise $8.5 billion in new debt on Tuesday, as a rout in energy prices and stock market jitters fueled by the coronavirus outbreak eroded investor confidence in the largest U.S. oil producer.
Exxon was among nine major companies that took advantage of a window opening in the U.S. credit markets on Tuesday to issue bonds, after the Federal Reserve announced new measures to boost liquidity in the financial system, including the purchase of short-term corporate debt. Exxon, which is rated Aaa/AA by credit rating agencies, issued its debt at a 60 basis point premium to PepsiCo Inc , which has a lower investment-grade rating of A1/A+. “Exxon had to pay a huge premium to where the bonds should have been, because they are in an industry that is viewed very …read more […]
SoftBank Group Corp is considering pulling out of a $3 billion bid to buy additional shares in WeWork, because it feels the office-space sharing firm has not met the conditions for the deal, people familiar with the matter said on Tuesday.
Tesla Inc cannot operate its main U.S. vehicle factory normally as the San Francisco Bay Area has begun a three-week lockdown to rein in the spread of coronavirus, a spokesman for the county’s sheriff’s office said on Tuesday.
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.
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