Business & Finance News
German flagship carrier Lufthansa on Friday said it would scrap its annual dividend, slash its flight schedule further and is also considering a request for state aid to help it deal with the impact of the coronavirus outbreak.
Corporate America joined the fight against the spread of coronavirus on Friday, as President Donald Trump and executives announced that Google would offer a website to help people determine whether they needed tests and retailers set up drive-through tests in parking lots.
Major sports events around the world that have been hit by the coronavirus outbreak:
Boeing Co’s suppliers, already reeling from a 737 MAX grounding one year ago on Friday, face an even slimmer workload as flight cancellations spurred by the spreading coronavirus mean less airline demand for spare parts and services.
A gauge of stocks across the globe bounced back on Friday led by a late rally on Wall Street, after U.S. President Donald Trump freed $50 billion to tackle the novel coronavirus pandemic.
Warren Buffett’s Berkshire Hathaway Inc said on Friday that Microsoft Corp co-founder Bill Gates is retiring from the conglomerate’s board of directors, and is expected to be replaced by Kenneth Chenault, who spent 17 years as chief executive of American Express Co .
The International Monetary Fund on Friday advised all staff at its Washington, D.C., headquarters to work from home until further notice after an employee was diagnosed with COVID-19, the disease caused by the coronavirus, an IMF spokesman said.
Oil prices on Friday posted their biggest week of losses since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply.
Fiat Chrysler Automobiles NV said production at its assembly plant in Windsor, Ontario, which was halted for 24 hours after an employee contracted the coronavirus, has resumed on Friday afternoon.
Microsoft Corp co-founder Bill Gates has stepped down from the company’s board to dedicate more time to his philanthropic priorities including global health, education and tackling climate change, the company said on Friday.
A group representing major U.S. airports on Friday revised upward its forecast for estimated losses this year to $5.7 billion after President Donald Trump instituted new European travel curbs and as flight reductions rose.
Shares of Google parent Alphabet Inc closed up more than 9% after U.S. President Donald Trump said on Friday the search giant would create a website to help determine whether individuals need a coronavirus test or not.
American shoppers stood in long lines outside grocery stores on Friday, waiting to buy essentials like toilet paper, pasta, and bottled water, as a worsening coronavirus crisis stoked fears of shortages across the United States.
President Donald Trump declared a U.S. national emergency over the quickly spreading coronavirus on Friday, opening the door to more federal aid to combat a disease that has infected 138,000 people worldwide and left more than 5,000 dead.
As a collapse in the oil price unleashed chaos in financial markets, Madrid money manager Diego Parrilla phoned a colleague who agreed: they had better head to work early in the morning.
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