Business & Finance News
India’s government had assured e-commerce companies that their operations would not be disrupted amid a nationwide lockdown to fight the coronavirus, but most are facing crippling disruptions after just three days, sources familiar with the matter said on Friday.
Just one of the world’s biggest multi-strategy funds available to retail investors is in the black for the year after coronavirus panic saw markets fall across the board, data from Morningstar showed.
Britain’s Royal Mail on Friday became the latest company to say the coronavirus had delayed plans for a radical turnaround and also canceled its dividend and suspended financial forecasts for the next year.
Oil prices were mixed on Friday as the market weighed the potential benefits of stimulus efforts by policymakers around the world against demand destruction caused by fallout from the rapid spread of the coronavirus.
Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF.
Alitalia’s administrator has asked the Italian government to increase the number of employees under temporary lay-off scheme to nearly 7,000, a document showed, to help mitigate the impact the coronavirus outbreak had on the airline and the wider sector.
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.
China’s auto industry has gone from zero to sixty in its post-pandemic campaign drive, with manufacturers and dealers quick to woo back lockdown-weary consumers through campaigns as unusual as a makeup-promoting personality touting car leasing.
Luxury carmaker Ferrari said on Friday it would extend the shutdown of its two Italian plants and reopen on April 14, provided it had supplies, and update 2020 forecasts in May when it releases its first-quarter earnings.
Oil and gas companies are cutting spending plans in response to the coronavirus pandemic and a push by Saudi Arabia and Russia to ramp up output.
Toyota Motor Corp has sought a credit line totaling 1 trillion yen ($9.23 billion) from Sumitomo Mitsui Banking Corp and MUFG Bank as fund-raising costs rise on the back of the coronavirus pandemic, Kyodo News reported on Friday.
U.S. electric carmaker Tesla Inc plans to slash on-site staff at its Nevada battery plant by around 75% due to the coronavirus pandemic, the local county manager said on Thursday.
Asian stocks rose on Friday as investors wagered policymakers will roll out more stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record.
Investors could be forgiven for doing a double-take: Wait, we’re back in a bull market?
Oil prices rose on Friday as governments around the world pledged a huge injection of funds and other measures to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil.
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