Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Mexico and other nations are seeking to mediate between Russia and Saudi Arabia to end a price war that has battered world markets, Mexico’s finance minister said on Tuesday, citing his country’s prior experience in calming a crude producer feud.
(Bloomberg) — U.S equity futures retreated and Asian equities opened lower as investors awaited details from the Trump administration on planned stimulus to counter the coronavirus impact. S&P 500 futures fell about 1.5%, following a strong rally on Wall Street. President Donald Trump didn’t appear at a White House briefing on the outbreak after promising a day earlier that he would hold a news conference to announce a “major” economic aid package. The yen clawed back some of a steep overnight retreat, while Japanese and Australian shares opened lower. The S&P 500 Index earlier closed up almost 5% to end …read more […]
President Donald Trump met with fellow Republicans in the U.S. Senate on Tuesday to discuss a fiscal stimulus plan to bolster the nation’s economy in the face of the coronavirus outbreak.
Corporate America is gearing up for leaner times.
A senior U.S. senator on Tuesday accused U.S. firms of willfully ignoring “horrific” forced labor conditions in China’s Xinjiang region and called on the Commerce Department to stop American companies and consumers buying goods produced by such labor.
Leading U.S. airlines on Tuesday ditched 2020 forecasts and unveiled more sweeping capacity cuts and cost-saving measures in response to the spreading coronavirus, while United Airlines warned of a deep hit to the sector.
The COVID-19 virus has sent the market and the global economy into a tailspin. The Organisation for Economic Co-operation and Development slashed its global growth forecast for 2020 Monday by 0.5 points to 2.5% versus already-weak 2.9% growth in 2019.Global banks have begun talking up the economy with the promise of stimulus injection.As the world and China in particular battle the deadly pandemic, a small batch of biotechs and a handful of big pharma companies are racing against time to bring to the market potential treatment and/or vaccines to combat the virus.Rocky R&D Pathway For Coronavirus Products Investors scurrying for …read more […]
Investors will continue to monitor the escalating coronavirus outbreak Wednesday and its impact on financial markets and the economy. …read more […]
Banks and other large financial companies in major cities across the world ramped up their emergency measures to combat the spread of the coronavirus on Tuesday, with Barclays Plc and BlackRock Inc confirming one case in their New York offices.
Trump’s re-election is looking less likely in the wake of rising coronavirus fears, says betting giant Paddy Power. …read more […]
Two U.S. lawmakers expressed serious concern on Tuesday about the effect of a planned merger of college textbook publishers Cengage Learning Holdings II and McGraw-Hill Education Inc, saying the deal would create a new industry leader with nearly half the market.
Bank of America Corp’s chief technology officer, Howard Boville, has left the company, according to a source familiar with the matter.
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