Business & Finance News
The U.S. Federal Reserve moved Tuesday to ensure the flow of credit to U.S. companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the coronavirus crisis.
U.S. Treasury Secretary Steven Mnuchin on Tuesday said he approved the creation of a new primary dealer credit facility to ease credit market disruptions caused by the coronavirus epidemic, resurrecting the second 2008 financial crisis-era backstop in less than a day.
Than U.S. President Donald Trump’s administration pushed lawmakers to send money directly to Americans to counter the economic toll of the coronavirus outbreak, as the Senate weighed a multibillion-dollar emergency bill passed by the House of Representatives.
Miners shuttered or wound down operations in Peru on Tuesday and were girding for extended supply chain disruptions in neighboring Chile as governments tightened restrictions to try to slow the spread of the coronavirus in the resource-rich region.
U.S. House Speaker Nancy Pelosi told the CEOs of U.S. airlines on Tuesday that Democrats agree on the need for “big immediate action” to boost the sagging U.S. aviation industry but have not reached agreement on what a bailout would look like.
Federal Reserve officials are deliberating over next steps in their response to the fallout from the coronavirus epidemic, with some urging a broad debate about how the central bank might help small and medium-sized businesses, policymakers said on Tuesday.
The S&P 500 rose 6% on Tuesday, clawing back a significant portion of Monday’s steep losses, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The U.S. Federal Reserve moved again late on Tuesday to broaden the flow of credit in response to the coronavirus epidemic, saying it would offer short-term loans to the two dozen Wall Street primary dealers who are important conduits for the sale of a broad range of bonds and other financial assets.
Virgin Australia Holdings Ltd said on Wednesday it would suspend all international flying from March 30 to June 14 and cut its domestic capacity in half because of government travel restrictions and lower demand because of the coronavirus.
SoftBank Group Corp is backing away from part of its planned bailout of WeWork, due to regulatory investigations of the office sharing company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Virgin Australia Holdings Ltd said on Wednesday it would suspend all international flying from March 30 to June 14 and cut its domestic capacity in half because of government travel restrictions and lower demand due to the coronavirus.
The S&P 500 rose 6% on Tuesday, recouping half of the previous session’s historic sell-off, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
A U.S. banking regulator proposed a set of standards Tuesday for how it would consider special charters to allow non-banks to accept deposits and engage in other limited banking activities.
Local California officials on Tuesday were evaluating if and how Tesla Inc will be allowed to continue operating its main U.S. vehicle factory as the San Francisco Bay Area begins a three-week lockdown to rein in the spread of coronavirus.
The U.S. Federal Reserve on Tuesday acted to ensure companies can continue paying workers and buying supplies through the coronavirus epidemic, as top officials scrambled through the day to broaden efforts to blunt the economic fallout from the health crisis.
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