Business & Finance News
Oil prices rose over 5% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
British trade minister Liz Truss said she wanted with the United States to agree to the removal of retaliatory tariffs on some British and U.S. products over EU subsidies on large aircraft early in trade negotiations to show goodwill.
Jack Welch, one of the most influential business leaders and former chief executive officer of General Electric Co , has died at the age of 84.
The U.S. central bank will deliver a big dose of stimulus starting this month in a bid to protect the world’s biggest economy from the impact of the coronavirus, traders of futures contracts tied to Federal Reserve policy are betting.
Ryanair will cut capacity in and out of Italy, its largest market, by 25% for three weeks due to a significant drop off in bookings since a coronavirus outbreak, Europe’s biggest low-cost airline said on Monday.
Global factories took a beating in February from the coronavirus outbreak, with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a coordinated policy response by central banks to prevent a global recession.
The White House will hold meetings this week with top executives from U.S. airlines and the cruise industry amid the growing coronavirus outbreak, a spokeswoman for Vice President Mike Pence confirmed Monday.
British Airways on Monday said it was cancelling some flights from London to the United States to match reduced demand for flying due to the impact of a new coronavirus on consumer sentiment.
The International Monetary Fund and the World Bank on Monday said they stood ready to help member countries address the human and economic challenges of the fast-spreading coronavirus outbreak, including through emergency funding.
U.S. stock indexes rose on Monday, recovering from steep declines amid a spell of bargain hunting, while investors hoped that monetary stimulus from central banks would help tide over the potential economic impact of the coronavirus.
Oil prices rose over 2% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Gilead Sciences Inc said on Monday it would buy Forty Seven Inc for $4.9 billion in cash, adding an experimental treatment that targets blood cancer to its portfolio of oncology drugs.
Blackstone Group Inc has reshuffled its London-based private equity team in charge of energy while trying to sell all or part of its flagship investment, North Sea oil and gas producer Siccar Point.
Apple Inc has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries.
The U.S. central bank will deliver a big dose of stimulus this month in a bid to protect the world’s biggest economy from the impact of the spread of the new coronavirus, traders of futures contracts tied to the Federal Reserve’s policy rate are betting.
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