Britain’s big airlines said on Monday they would have to ground most of their fleets to survive the coronavirus crisis, with easyJet and Virgin – though not British Airways – appealing for government bailouts to save the industry from collapse.
Airlines are one of many sectors that have been hit the hardest by the spread of COVID-19. Airliners like Norwegian Air are cutting capacity by 85% while laying off employees. Tim Hayes, Chief Investment Strategist at Ned Davis Research Chief joins The First Trade to discuss. …read more […]
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak. Several have scrapped flights and ditched financial forecasts.
Confirmed cases of coronavirus disease in the US have expanded dramatically, from only 100 just two weeks ago to more than 3,300 now. As the disease spreads, the Federal government has declared a national emergency and released $50 billion in aid for States and territories to fight the viral outbreak. At the same time, the Federal Reserve cut its key interest rate back to near-zero, and announced that it will initiate a $700 billion program of quantitative easing.The governmental moves, welcomed by the business community, have at best only partially stemmed the feeling of panic in the general public. Grocery …read more […]
Chinese airlines including Air China, China Southern Airlines and China Eastern Airlines are planning to reduce international flights in response to the coronavirus pandemic, the Global Times reported on Monday, citing unidentified sources.
Matt Maley, equity strategist at Miller Tabak + Co joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss the markets and how investors should be investing during this time of market uncertainty and volatility. …read more […]
Britain’s major supermarkets are working on plans to streamline their operations by cutting cafes, counters and other services to enable a depleted workforce to maintain basic provisions during the coronavirus outbreak, industry sources told Reuters.
EOG Resources Inc , Whiting Petroleum Corp and EQT Corp cut drilling activity and budgets on Monday, becoming the latest North American shale producers to be hit by lower oil prices, which fell below $30. Oil producers are trying to shore up cash as demand dwindles because of the global coronavirus outbreak and the double-whammy of a price war that threatens shale companies, which had budgeted for oil prices at $55 per barrel to $65 per bar
(Bloomberg) — Carnival Corp., the largest player in a cruise industry reeling from the effects of the coronavirus, said it expects a loss this fiscal year and is taking steps to improve liquidity.The efforts include cutting investments and expenses and looking for additional financing, Carnival said in a statement Monday. The company said it provided notice on Friday to borrow about $3 billion for six months under an existing credit facility, fully drawing down the credit line to meet working capital, general corporate and other needs.The spread of the coronavirus has made it impossible to project earnings, the company said, …read more […]
Coronavirus Driving Demand For Work-at-home Video Conferencing Software NEW YORK and TORONTO, March 16, Mar 16, 2020 (GLOBE NEWSWIRE via COMTEX) — NexTech AR Solutions (NexTech) (otcqb:NEXCF) (NTAR)(N29), the leader in augmented reality for eCommerce […]
Warren Buffett is taking a cautious approach to the coronavirus outbreak. …read more […]
Stacey Cunningham, President of the New York Stock Exchange, joins Yahoo Finance’s Ines Ferre to discuss the impact of the coronavirus on the markets and what procedures are in place to prevent further declines. …read more […]
Billionaire investor Ray Dalio, whose main Bridgewater Associates LP hedge fund fell sharply amid the coronavirus-led market rout, is concerned about the combination of zero interest rate policy and the growing health pandemic, he said in a note Monday. “I have been concerned that when the economic downturn would come, it would lead to hitting the 0% interest rate in an economic downturn with a lot of debt outstanding and big wealth and political gaps the way that configuration of events happened the 1930s,” Dalio wrote. On Sunday, the U.S. Federal Reserve cut interest rates to a target …read more […]
The S&P 500 index plunged over 9% on Monday as trading resumed after an initial automatic 15-minute cutout, driven by mounting fears of the damage the coronavirus is doing to the global economy.
German airline Lufthansa said it would further cut its flight schedule after Monday’s announcement that its Austrian Airlines division was scrapping all flights in response to the coronavirus-induced collapse in passenger demand.
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