Business & Finance News
Swift government action is needed to help global airlines that are in a desperate situation and running out of cash, the International Air Transport Association warned on a media call on Tuesday.
The U.S. Senate on Tuesday prepared to weigh a multibillion-dollar emergency spending bill passed by the House of Representatives offering some economic relief from the coronavirus outbreak as the Trump administration pressed for billions more.
The Trump administration plans is seeking a $850 billion stimulus package aimed at buffering the economy against fallout from coronavirus, the Washington Post reported on Tuesday citing four unnamed officials familiar with the plan.
Ventas Inc said on Tuesday it was experiencing a slowdown in move-ins at its senior housing business and that the coronavirus pandemic raises the risk of tenants moving out as it withdrew its 2020 financial forecasts.
Oil traded near $30 a barrel on Tuesday, close to its lowest since 2016, and analysts said more declines may follow as the coronavirus pandemic hits demand and Saudi Arabia and Russia battle for market share.
Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects cash outflows to continue until 2021, adding that these have already been provisioned for.
Volkswagen Group , the world’s biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday.
China’s e-commerce company JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares as the coronavirus outbreak grows bigger.
Trading house Glencore has chartered the 3 million barrel crude carrier ‘Europe’ to store oil at sea for at least 6 months, trading sources on Tuesday.
Europe’s Airbus has signaled that some government support may be needed if the coronavirus crisis lasts for several months, two people familiar with the matter said.
Oil fell below $30 a barrel on Tuesday, trading close to its lowest in more than four years, as the coronavirus pandemic hit demand and Saudi Arabia raised output to a record as it battles with Russia for market share.
British Airways is due to make an unspecified number of pilots redundant according to UK pilot union BALPA, as the airline seeks to reduce its costs to try survive the coronavirus crisis.
Fearful of causing further harm to an economy laid low by the coronavirus epidemic, authorities in China have become a lot more lenient dealing with entrepreneurs breaking the law.
Russia’s airlines could lose 100 billion roubles ($1.4 billion) due to the coronavirus outbreak and risk going bankrupt, the head of Russia’s Federal Air Transport Agency, also known as Rosaviatsiya, told the Interfax news agency.
U.S. stock index futures turned higher in volatile trading on Tuesday, following Wall Street’s steepest fall since 1987 in the previous session, as drastic efforts to contain the coronavirus pandemic paralyzed supply chains and crushed business sentiment.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
