Business & Finance News
Global stocks plunged into a bear market and oil slumped further on Thursday after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves overnight to restrict travel from Europe over the spread of the coronavirus.
Volkswagen’s expansion in electric cars will open up new business opportunities in storing and managing energy, encroaching on business currently dominated by utilities and energy firms, chief strategist Michael Jost said on Thursday.
Shares in Boeing Co dropped more than 16% on Thursday on increased concerns over a fallout from news of sweeping U.S. travel restrictions on Europe meant to curb the spread of coronavirus.
American Airlines Inc and Delta Air Lines Inc both said Thursday they will cap air fares on flights from Europe to the United States that are impacted by new travel restrictions as Americans flock to European airports trying to return home.
Trading on Wall Street’s three main indexes was halted moments after the opening bell on Thursday as the S&P 500 slipped 7%, setting off an automatic 15-minute cutout, for the second time this week.
A group of investors in GameStop Corp on Thursday asked the video game retailer to appoint a shareholder nominee on its board, after a year-long standstill agreement with the company to not express concerns publicly expired recently.
European airlines bore the brunt of a dramatic expansion of the coronavirus crisis on Thursday, as U.S. travel curbs on much of the continent deepened the sector’s misery and piled more pressure on governments to offer emergency support.
LATAM Airlines Group and Brazil carrier Azul SA said on Thursday they will cut capacity on international flights by up to 30% as demand has collapsed due to the global coronavirus outbreak.
The number of Americans filing for unemployment benefit unexpectedly fell last week, but could rise in the coming weeks as the coronavirus pandemic causes companies to layoff workers amid supply chain disruptions and waning demand for some goods and services.
JPMorgan Chase & Co is planning to ask New York-area employees to work from home to stem the spread of the coronavirus, Bloomberg news reported https://www.bloomberg.com/news/articles/2020-03-12/jpmorgan-tells-new-york-employees-to-work-from-home-due-to-virus on Thursday.
The number of Americans filing for unemployment benefit unexpectedly fell last week, but could rise in the coming weeks as the coronavirus pandemic causes companies to layoff workers amid supply chain disruptions and waning demand for some goods and services.
U.S. lawmakers plan to unveil a bill on Thursday that could be used to block Huawei Technologies Ltd from accessing U.S. banks for certain transactions, in a bid to thwart the Chinese telecoms giant amid frustration over the failure of prior sanctions to curb its business.
A group of investors in GameStop Corp has asked the video game retailer to appoint a shareholder nominee on the company’s board.
Even if Italy’s draconian measures to stop the spread of coronavirus prove successful, they will leave an economy in tatters, with small and medium-sized businesses the hardest hit.
Oil prices fell on Thursday following surprise travel restrictions imposed by U.S. President Donald Trump in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.
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