Business & Finance News
(This corrects paragraph eight of March 4 story to quote UNCTAD report saying Honda’s output will be reduced in March, rather than plants closed, and deletes reference to Hyundai.)
Goldman Sachs ranked as the top adviser to companies targeted by activist investors in 2019, dethroning Morgan Stanley , which had held the top spot for three straight years, according to Refinitiv data published on Friday.
Morgan Stanley is shifting part of its London-based sales and trading staff to a secondary site near Heathrow airport to ensure its trading desks can operate smoothly through the coronavirus outbreak, two sources familiar with the matter said.
Iraq has banned entry to travelers coming from France and Spain, the Foreign Ministry said on Friday, bringing the total number of countries on its entry ban list to 11 as it tries to stem the spread of coronavirus.
Standard Chartered Chief Executive Bill Winters is expected to stay at the bank until the conclusion of its current strategy, its Chairman Jose Vinals said in an internal memo seen by Reuters on Friday.
Hotel bookings have fallen by as much as 40% in some areas of Spain, the country’s hotel federation said and flagged an overwhelming impact for the eurozone’s fourth largest economy as anxiety about the coronavirus outbreak takes hold.
Bank of America Corp is splitting its trading staff with about 100 employees working out of the Stamford location effective Monday, according to a source familiar with the matter.
Iraq banned travelers coming from France and Spain from entering the country, the Foreign Ministry said on Friday, bringing the total number of countries on its entry ban list to 11 as it tries to stem the spread of coronavirus.
The number of people in New York state who have tested positive for the coronavirus has increased by 11 to 33, governor Andrew Cuomo said on Friday.
Is it possible we may see a wave of corporate defaults at a time when interest rates are at record lows and falling? In Europe, where many rates are below 0%, signs of stress are emerging as the coronavirus outbreak hits companies’ bottom lines. An index of credit default swaps on 75 high-risk European companies compiled by IHS Markit — the iTraxx Europe Crossover – has surged to the highest in almost four years. The list is pretty diverse: airlines, retailers, carmakers and others all feature.
The death toll from an outbreak of coronavirus in Italy has risen by 49 to 197, the Civil Protection Agency said on Friday, the largest daily increase in fatalities since the contagion was uncovered two weeks ago.
A U.S. House investigative report into two Boeing 737 MAX crashes that killed 346 people will fault the Federal Aviation Administration’s (FAA) approval of the plane and Boeing’s “design failures.”
Oil prices tanked more than 8% on Friday to their lowest levels since mid-2017 after Reuters reported that Russia balked at OPEC’s proposed steep production cuts to stabilize prices.
A three-year honeymoon between OPEC and Russia descended into acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.
U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
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