Reuters: Business News
- European airlines resist mounting coronavirus refund claims March 27, 2020European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers.
- U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives March 27, 2020U.S. airlines expect to learn the terms of federal aid meant to protect workers' payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc said on Friday.
- U.S. airlines cheer government relief but warn it is no 'cure' for deep industry crisis March 27, 2020United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action.
- Wall Street tumbles as U.S. virus cases pass 100,000 March 27, 2020Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
- Almost one in four Americans lost job or furloughed because of coronavirus: Reuters/Ipsos poll March 27, 2020Nearly one in four U.S. adults said they have been laid off or furloughed during the coronavirus outbreak, yet a bipartisan majority of Americans wants businesses to remain closed to slow the spread of the deadly virus despite its impact on the economy, according to a Reuters/Ipsos poll.
- Fed sets fee structure for BlackRock's role in mortgage bond purchases March 27, 2020BlackRock Inc will earn less than $8 million a year in fees for its role assisting the Federal Reserve with its purchases of commercial mortgage-backed securities, one of the new programs the central bank is rolling out to backstop an economy under threat from the coronavirus outbreak, according to details of the arrangement released on […]
- Stocks down on virus' economic toll; dollar falls further March 27, 2020Stocks across the globe fell on Friday after a historic three-day run-up, as skittish investors kept indices on track for their worst monthly and quarterly performances since 2008, while the dollar fell by the most in any week since 2009.
- Trump tells GM: Stop 'wasting time', build ventilators to address coronavirus March 27, 2020U.S. President Donald Trump on Friday invoked emergency powers to require General Motors Co to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations.
- Condom shortage looms after coronavirus lockdown shuts world's top producer March 27, 2020A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production.
- Oil plunges posting fifth straight weekly loss despite stimulus efforts March 27, 2020Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.
- U.S. consumer sentiment near three-and-a-half year low, spending sluggish March 27, 2020U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists' expectations of a deep recession.
- U.S. regulators give banks relief on accounting standard, derivatives rule March 27, 2020U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new, more sensitive way to measure risk in a bid to ensure banks continue lending through the pandemic.
- ECB tells euro zone banks to skip payouts as virus hits economy March 27, 2020The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic.
- Global oil refiners shut down as coronavirus destroys demand March 27, 2020The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.
- Saudi Arabia says no talks on new oil deal, Moscow suggests larger OPEC+ March 27, 2020Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.
- From quills to qwerty: Lloyd's underwriters adapt to home working March 27, 2020Thousands of London's underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won't need them.
- More than 100 British companies halt dividend payments due to coronavirus pandemic March 27, 2020More than 100 British companies have postponed or ditched dividend payments in a bid to preserve cash for what could be a lengthy enforced shutdown of large parts of the UK and global economy due to the coronavirus pandemic.
- Factbox: Carmakers churn out machines, masks to help fight coronavirus March 27, 2020Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines - everything from cloth face masks to sophisticated ventilator systems - to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia.
- Treasury: U.S. will be 'compensated' for assistance to airlines March 27, 2020U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will "compensated" for providing up to $25 billion in direct grants to the airline industry.
- Delta CEO says gov't aid ensures no industry lay-offs through September 30 March 27, 2020Delta Air Lines Chief Executive Ed Bastian said payroll assistance funds from the government under a massive stimulus package approved on Friday ensure there will not be any involuntary furloughs or pay cuts in the U.S. airline industry through Sept. 30.