European airline stocks plunged as much as 20% on Thursday after U.S. President Donald Trump said he would restrict travel from Europe to the United States for 30 days to try to contain the spread of the coronavirus.
British cinema operator Cineworld said on Thursday it could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, sending its shares down 20%.
Automakers in China are calling on the government to help after industry-wide sales plunged 79% in February to mark their biggest ever monthly decline, with demand pummelled by the coronavirus outbreak.
Cinema operator Cineworld could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, the company said in its annual results release on Thursday.
British cinema operator Cineworld said on Thursday it could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, sending its shares down 20%. The company, whose biggest shareholder sold a part of Cineworld’s stake last week to refinance debt, has been grappling with worries about the potential impact of the coronavirus on box office attendance as the epidemic shows no signs of slowing. Cineworld is saddled with $3.5 billion in debt, excluding leases, as it begins to pay for its takeover of …read more […]
All global investors got from U.S. President Donald Trump’s coronavirus package were a shock travel ban on Europe and a flashing signal to sell, and none of the large-scale tax breaks or medical tests for Americans they’d been expecting.
(Bloomberg) — Coronavirus-induced market mayhem has pushed so much liquidity out of U.S. Treasuries that the true value of more than $50 trillion in assets around the globe is in doubt.Yields in the world’s largest debt market have been on a mind-bending, three-week roller-coaster ride. At one point, the entire U.S. yield curve was below 1% for the first time ever. But this week rates have jumped from Monday’s all-time lows even though fear of the virus has intensified, and U.S. stocks sank into a bear market Wednesday. The biggest oil-price plunge since 1991 also stirred chaos this week.This volatility …read more […]
Britain’s biggest supermarket Tesco does not expect to see anything more than short-term shortages of certain products as customers stockpile over coronavirus, its chairmain said on Thursday.
Food giant Nestle has mandated JPMorgan Chase & Co. to handle the sale of its struggling Chinese peanut milk business Yinlu that could be valued at about $1 billion, Bloomberg reported on Tuesday, citing sources familiar with the matter.
A clampdown on European travel to the United States will heap more pressure on airlines already reeling from the coronavirus pandemic, analysts said, raising the odds of government relief packages as billions of dollars of tourist spending vanish.
Oil prices fell for the second straight day on Thursday amid a broad decline in global markets after the United States banned travel from Europe following the World Health Organization’s decision to declare the coronavirus outbreak a pandemic.
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses.
(Bloomberg) — For weeks, investors have been pleading for governments to shore up a global economy ravaged by the coronavirus. But after the biggest wave of stimulus announcements since the outbreak began, fear is mounting the efforts might not provide the salvation markets are looking for.Emergency measures in the U.K., Italy and Australia, along with a commitment from Germany’s Angela Merkel to do “whatever is necessary,” were met with fresh waves of selling in stocks, putting the MSCI All-Country World Index on the brink of a bear market. The gloom veered toward panic after President Donald Trump announced an underwhelming …read more […]
Financial markets reeled on Thursday as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step of banning travel from Europe to stem the spread of coronavirus, threatening more disruptions to trade and the world economy.
Auto sales in China plunged 79% in February, marking their biggest ever monthly decline, with demand pummeled by the coronavirus outbreak.
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