Business & Finance News
Kansas City Federal Reserve President Esther George said on Tuesday that the regional Fed bank continues to carry on with its key functions, and is ready to extend credit when needed through the U.S. central bank’s emergency lending window.
Gold, the dollar and global equity markets rose on Tuesday after the Federal Reserve said it would buy short-term corporate debt directly from companies to help relieve credit markets under strain from the economic impact of the coronavirus epidemic.
FedEx Corp suspended its 2020 profit outlook on Tuesday, citing uncertainty due to the coronavirus pandemic.
Impossible Foods is discussing a new credit line worth several hundred million dollars with its lenders, as the plant-based meat company braces for the economic fallout of the coronavirus outbreak, people familiar with the matter said on Tuesday.
Boeing Co is seeking “tens of billions of dollars” in U.S. government loan-guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed on the matter told Reuters.
The World Bank on Tuesday said it had increased to $14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding $2 billion to an initial package announced on March 3.
Crude oil prices settled below $30 a barrel as the coronavirus pandemic slowed economic growth and oil demand on Tuesday while Saudi Arabia and Russia kept up their battle for market share.
U.S. Treasury Secretary Steven Mnuchin’s suggestion on Tuesday that the country’s stock exchanges might shorten their trading hours did not go over well with investors reeling from Wall Street’s worst day in three decades and growing fears about the coronavirus.
Department store operators Macy’s Inc and Hudson’s Bay decided on Tuesday to temporarily close all its stores in the United States due to the coronavirus pandemic, but said their e-commerce sites would continue to operate.
Struggling Norwegian Air needs government support similar to that which SAS received from the Danish and Swedish governments if it is to protect jobs in Norway as demand is strangled by the coronavirus outbreak.
Some Democrats in Congress are pushing back on aspects of a proposal by major airlines seeking $50 billion in grants and loans in the face of the massive travel slowdown as a result of the coronavirus pandemic.
The U.S. Commodity Futures Trading Commission on Tuesday said it has issued temporary, targeted relief to futures commissions merchants, brokers, swap dealers, and other market players in response to the coronavirus pandemic.
Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system.
Luxury jeweler Tiffany & Co said on Tuesday it would temporarily close several stores, including its Fifth Avenue flagship store in New York, and reduce working hours at other outlets, in an effort to contain the spread of the novel coronavirus.
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