Business & Finance News
As the coronavirus pandemic threatens to bring U.S. economic activity to a halt, American businesses are jockeying for a financial lifeline from President Donald Trump’s administration and Congress.
Uber Technologies Inc has plenty of cash on hand to get through the coronavirus crisis and is seeing growth in businesses other than ride-hailing, CNBC reported https://www.cnbc.com/2020/03/19/uber-stock-pops-after-saying-worst-of-coronavirus-fallout-is-behind-it.html on Thursday citing a conference call by Chief Executive Officer Dara Khosrowshai.
The number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high last week, as companies in the services sectors laid off workers because of the coronavirus pandemic.
One of the most aggressive state-run cash pools that regularly trounces the returns of peers and money-market funds with big bets on short-term corporate debt is no longer eager to buy some of the blue-chip names that produce those juicy yields.
Colombia will block the entrance of all non-citizens beginning this weekend, President Ivan Duque said on Thursday, in a bid to control the spread of coronavirus.
The U.S. Department of Energy said on Thursday it will buy an initial 30 million barrels of oil for the Strategic Petroleum Reserve as an initial step to fulfill President Donald Trump’s directive to fill the reserve to help domestic crude producers.
Ray Dalio, founder of hedge fund Bridgewater Associates LP, said on Thursday corporations in the United States will lose as much as $4 trillion due to the economic damage from coronavirus outbreak.
A summit of Southeast Asian and other international leaders scheduled in Vietnam early next month has been postponed until end-June due to worries about coronavirus, Vietnam’s Ministry of Foreign Affairs said on Thursday.
The world’s wealthiest nations poured unprecedented aid into the reeling global economy on Thursday as coronavirus cases ballooned in the current epicentre Europe and London became the latest major center bracing for lockdown.
Oil prices rose nearly 3% on Thursday after a three-day selloff sparked by the spread of the coronavirus and a market share battle between Saudi Arabia and Russia drove them to their lowest in almost two decades.
The prime minister in the Netherlands has offered reassurances amid the global coronavirus outbreak: telling citizens on Thursday there is no shortage of toilet paper.
Air France said on Thursday that it was working closely with the French government to help repatriate French and European nationals abroad who might be stranded as a result of transport link closures prompted by the coronavirus.
Three people employed by the U.S. diplomatic mission in Geneva have contracted coronavirus, but are in “good condition”, a spokesperson told Reuters on Thursday, declining to give specifics.
The crisis for airlines deepened on Thursday as Lufthansa warned the industry might not survive without state aid if the coronavirus pandemic lasts a long time, and Qantas Airways told most of its 30,000 staff to take leave.
The British government has no plans to bring in blanket travel restrictions for London or to close down the capital’s transport system, Prime Minister Boris Johnson’s spokesman said on Thursday.
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