Business & Finance News
Shattered airlines were left counting the cost of government support as countries from the United States to New Zealand set out conditions for bailouts needed to absorb the shock of the coronavirus pandemic.
While many Muslims in Indonesia’s capital accepted advice to avoid religious gatherings and prayed at home on Friday elsewhere in the world’s most populous Muslim country, people ignored the risk of coronavirus and crowded into their mosques.
Mosques in Sri Lanka were shut indefinitely from Friday, and the island is set to impose a countrywide curfew over the weekend, as South Asian countries step up efforts to check the spread of COVID-19 cases.
Supply restraint by core-OPEC producers could push second-quarter Brent oil prices up to $30 a barrel, while U.S. measures to support the market could underpin prices in the near term, Goldman Sachs said in a research note.
Oil prices recovered further on Friday, following steep gains in the previous session after U.S. President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia at an “appropriate time”.
The foreign ministers of South Korea, China and Japan will hold a video conference on Friday to foster cooperation on the coronavirus pandemic, Seoul’s foreign ministry said.
Thailand reported 50 new coronavirus infections, taking its tally to 322, a health official said on Friday, with the majority located in Bangkok, the capital.
Shattered airlines were left counting the cost of government support as politicians in the United States and New Zealand set out conditions for bailouts needed to absorb the shock of coronavirus.
Asian shares staged a rare rally on Friday as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though the panicked rush into U.S. dollars suggested the crisis was far from done.
U.S crude oil prices edged higher on Friday, extending gains after a 24% jump the previous day, buoyed by hints from U.S. President Donald Trump he may intervene in the price war between Saudi Arabia and Russia at an “appropriate time.”
Latin America’s major airlines sharply curtailed international flights on Thursday because of the coronavirus outbreak as Panama and Colombia imposed month-long travel bans and the largest carrier cut the salaries of 43,000 employees.
Big-box retailer Walmart Inc said on Thursday it would hire more than 150,000 hourly workers in the United States, citing a jump in shoppers due to the coronavirus pandemic.
China’s aviation regulator has asked airlines to cut international flights and ordered some Beijing ones to be rerouted, as the country grapples with a rising number of imported coronavirus cases, especially in the capital.
Walt Disney Co , JPMorgan Chase & Co and United Parcel Service Inc were among seven major U.S. companies that accepted a big rise in their borrowing costs to issue bonds on Thursday, as the coronavirus outbreak roiled credit markets.
Luxury automaker Jaguar Land Rover said late on Thursday it would temporarily suspend production at its UK manufacturing facilities from next week to curb the coronavirus’ spread.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
