Business & Finance News
Boeing Co is in talks with senior White House officials and congressional leaders about short-term assistance for itself and the aviation sector, a person familiar with matter told Reuters on Monday.
Wall Street suffered its biggest drop since the crash of 1987 on Monday after unprecedented steps taken by the Federal Reserve, lawmakers and the White House to slow the spread and blunt the economic hit of the coronavirus failed to restore order to markets.
Airlines and airport operators said they are taking steps such as suspending dividends, selling and leasing back airplanes and flying cargo on empty passenger jets as they grapple with a cash crunch and plunging demand caused by the coronavirus outbreak.
Amazon.com Inc on Monday said it would hire 100,000 warehouse and delivery workers in the United States to deal with a surge in online orders, as many consumers have turned to the web to meet their needs during the coronavirus outbreak.
Major U.S. airlines sought a government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand sparked by the coronavirus pandemic.
Boeing Co’s shares on Monday erased all gains recorded during ousted CEO Dennis Muilenburg’s tenure due to the economic fallout of the coronavirus pandemic and uncertainty around the 737 MAX’s return to service, which also led to a credit rating downgrade by S&P Global Ratings.
The coronavirus pandemic is forcing employers to make tough decisions that could lead to legal liability, but most companies should be in the clear if they follow the advice of government authorities, according to Morrison & Foerster partners Janie Schulman and Christine Lyon.
Chesapeake Energy Corp , the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday.
U.S. gasoline refining margins fell a whopping 95% on Monday – even briefly turning negative – with the cost of gasoline plunging faster than crude oil in anticipation that the coronavirus will keep people off the road and in their homes.
Markets reeled on Monday, with stocks on Wall Street and the price of Brent crude tumbling more than 10%, as the Federal Reserve’s second emergency rate cut in as many weeks failed to calm fears of a coronavirus-induced recession.
Boeing and Airbus face a drop in planned deliveries as airlines struggle to survive the coronavirus crisis, sending shares in planemakers plunging on Monday.
Less than 48 hours after U.S. President Donald Trump bragged about his soothing influence on the stock market, Wall Street tanked again.
Alphabet Inc began disclosing revenue for its YouTube video service this year after U.S. securities regulators asked the Google parent to give more “quantitative and qualitative” data on the business, according to filings released Monday.
Several automakers on Monday said U.S. buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if impacted by shutdowns due to the spread of coronavirus.
U.S. gasoline refining margins fell to the lowest since December 2008 on Monday, as the spread of coronavirus intensified in the United States, disrupting daily life for Americans who have been told to stay indoors and off the road.
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