Business & Finance News
The coronavirus epidemic is putting up to 50 million jobs in the global travel and tourism sector at risk, with travel likely to slump by a quarter this year, Asia being the most affected continent, the World Travel and Tourism Council said on Friday.
If the coronavirus crisis lasts another two or three months, it could force carriers to collapse and spark more consolidation in the beleaguered airline industry, the International Air Transport Association (IATA) chief told Reuters on Friday.
China’s Wuhan city, ground zero of the new coronavirus outbreak, reported five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.
Elon Musk is expected to defend a $2.2 billion deal in court next week criticized by shareholders as benefiting Musk at the expense of Tesla Inc, and the outcome may depend as much on the chief executive’s temperament as on the facts of the case.
U.S. Federal Reserve policymakers have already begun responding to the coronavirus with an emergency interest rate cut and a reopening of their crisis tool kit, all without a clear idea of what damage is being done outside of plummeting financial markets.
World stocks bounced off their lows on Friday on hopes of more central bank stimulus and government spending, but were still set for their worst week since the 2008 financial crisis, with coronavirus panic-selling hitting nearly every asset class.
Here’s what you need to know about the coronavirus epidemic today:
The airline stocks that suffered the most after U.S. President Donald Trump barred continental Europeans from traveling to the United States do not even operate flights between those two regions.
British Prime Minister Boris Johnson has cautioned that more families will lose their loved ones to the coronavirus but has taken a distinctly different approach to tackling the outbreak.
Canadian Prime Minister Justin Trudeau’s wife, Australia’s minister for home affairs and a Chelsea soccer player are among new cases of the coronavirus that has infected almost 135,000 people and killed more than 4,900 worldwide.
Ukraine’s government at a televised meeting on Friday decided to ban citizens registered in separatist-held territory in the eastern Donbass region from entering government-controlled areas.
As President Donald Trump scrambles for new ways to cushion the economic blow from the fast spreading coronavirus, industry groups, lawmakers and even some government officials are reviving a previous request: cut tariffs on Chinese and other imported goods.
Romanian interim prime minister and Liberal Party leader Ludovic Orban will quarantine himself after coming into contact with one of his party’s senators who was later confirmed to have the coronavirus, he said on Friday.
Canadian Prime Minister Justin Trudeau’s wife, Australia’s minister for home affairs and a Chelsea soccer player are among new cases of the coronavirus that has infected almost 135,000 people and killed more than 4,900 worldwide.
The U.S. Food and Drug Administration (FDA) issued emergency authorization for a faster coronavirus test made by Swiss diagnostics maker Roche , a move aimed at boosting screening capacity to help contain the growing epidemic.
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