Business & Finance News
The fallout from the coronavirus spread across the Pacific on Friday, with travel companies in Australia and New Zealand issuing profit warnings as U.S. airlines rushed to cut flights to Europe in the wake of new U.S. travel restrictions.
Oil prices fell on Friday for a third day, with Brent crude set for its biggest weekly drop since 1991 and U.S. crude heading for the worst week since 2008 as panic about plunging demand from the coronavirus outbreak grips the market.
Asia’s stock markets crashed on Friday as panic gripping world financial markets deepened, and even haven assets such as gold and bonds were ditched to cover losses in the wipeout.
Apple Inc is reopening all 42 of its branded stores in China on Friday, a company spokesman said, more than a month after they were shut in the wake of the coronavirus outbreak.
The U.S. Trade Representative’s office said it granted on Thursday exclusions from import tariffs for some medical products imported from China, including face masks, stethoscope covers and blood pressure cuff sleeves.
Juul Labs Inc said on Thursday co-founder James Monsees plans to leave the e-cigarette maker, stepping down as an adviser and board member.
The dollar stood tall on Friday as investors scrambled for the world’s most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.
Europe’s Airbus on Thursday welcomed a move by Washington state to remove what it called “illegal subsidies” to Boeing, but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks.
Asia’s stock markets were hammered on Friday as panic gripping world financial markets deepened and even safe-haven assets such as gold and bonds were ditched to cover losses in the wipeout.
Transport Canada said on Thursday it is revising a deal that would have reduced technical work done by the Canadian regulator when validating Federal Aviation Administration (FAA) certified aircraft like the Boeing 737 MAX.
As trading ended on Thursday in Wall Street’s worst day for three decades, shell-shocked investors had no idea how much further the market was likely to fall as the coronavirus pandemic spread fear of a global recession.
Apple Inc has reopened all 42 of its branded stores in China, more than a month after they were shut due to fears over the coronavirus outbreak, the iPhone maker’s Chinese website showed on Friday.
Asia’s stocks were poised to plunge further on Friday as panic gripped world financial markets and even safe-haven assets such as gold were ditched to cover losses in the wipeout.
Crushing asset sell-offs ranging from bitcoin to precious metals and European stocks accompanied Wall Street’s slide into bear market territory on Thursday, as investors liquidated positions across their portfolios to raise cash.
Pharmacy chain Walgreens Boots Alliance Inc and supermarket chain Kroger Co on Thursday placed purchase limits on certain products to stabilize inventory, as customers stock up on essentials amid a global coronavirus outbreak.
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