Business & Finance News
U.S. stock markets fell sharply on Tuesday on worries that even a half percentage-point cut in interest rates might not be enough to stave off the economic impact of the coronavirus outbreak and halt the worst sell-off in more than a decade.
Mercedes-Benz is embarking on a sweeping cost cutting plan to free up cash to build electric and self-driving cars, a step which could see entire engine families and platforms eliminated, Daimler board member Markus Schaefer said on Tuesday.
The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.
Hudson’s Bay Co Chairman Richard Baker will take over as chief executive officer, a source familiar with the matter told Reuters on Tuesday, after his bid to take the owner of Saks Fifth Avenue private was approved by shareholders.
The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.
The World Bank said it would announce a package of financial and technical support later on Tuesday to assist with the health and economic impacts of the global coronavirus outbreak.
OPEC and its allies will consider making substantial oil production cuts to lift prices that have been battered by the coronavirus outbreak, Algeria’s oil minister said on Tuesday, as ministers began arriving for talks in Vienna this week.
Global equity markets seesawed in volatile trade and gold prices rose more than 2% on Tuesday after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the coronavirus.
Apple supplier Foxconn warned revenue would drop 15% in businesses including consumer electronics and enterprise products in the first quarter, but that it would recover thereafter as production returns to normal in virus-hit China.
The U.S. dollar’s strength will remain in place and for longer than expected just a month ago, despite Federal Reserve interest rate cuts intended to limit the economic damage from the spreading coronavirus, a Reuters poll showed.
Oil prices were higher on Tuesday but quickly came off session highs reached after the U.S. Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.
The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.
The U.S. Federal Reserve cut interest rates on Tuesday in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.
Traders of futures contracts tied to the Federal Reserve’s policy rate reacted to a sooner-than-expected reduction in borrowing costs Tuesday with bets on more to come as the central bank moves to try to shield the U.S. economy from the effects of the new coronavirus.
A sharp rebound in world stock markets lost only a little steam on Tuesday despite a lack of any immediately gratifying measures after global policymakers pledged to address the economic fallout from the coronavirus outbreak.
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