(Newsmax) “The highest-end prediction, using the Spanish flu from 1918 to 1920 that killed 17 million and cost GDP $50 million, projects 68 million dead and a GDP hit of $9 trillion, per the study”. Read more
Reuters: Business News
- Governments, central banks must boost efforts to help economies cope with crisis: BIS chief March 29, 2020Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday.
- Chanel turns its workshops to making face masks as coronavirus spreads March 29, 2020Luxury fashion group Chanel said on Sunday it would launch production of face masks to help bolster supplies in France, as the coronavirus sweeps across the country.
- Worry, problems and strife: Investors fear markets not out of woods despite big rally March 29, 2020After a brutal meltdown, some investors have been wading back into U.S. stocks. But others are wary of another leg down as the coronavirus spreads and its economic impact is difficult to predict.
- Exclusive: Qatar Airways says it will need state support as cash runs out March 29, 2020Qatar Airways will have to seek government support eventually, Chief Executive Akbar al-Baker told Reuters on Sunday, warning that the Middle East carrier could soon run out of the cash needed to continue flying.
- Mexico's President says will comply with public vote to halt brewery project March 29, 2020Mexico's President Andres Manuel Lopez Obrador on Saturday said his government will comply with a public consultation to halt the construction of U.S. brewer Constellation Brands Inc's more than $1 billion brewery project in the border city of Mexicali.
- Clothing rental service Rent the Runway lays off workers amid coronavirus outbreak March 29, 2020U.S. clothing rental firm Rent the Runway said on Saturday it had laid off retail employees following temporary store closures amid the ongoing coronavirus outbreak.
- Pence says virus taskforce soon to deliver recommendation on whether to re-open economy March 29, 2020Vice President Mike Pence, heading the Trump administration's response to the coronavirus outbreak, said on Saturday that he would deliver a recommendation to the president on whether to re-open the U.S. economy in the coming week.
- Airbnb hosts to provide free rooms for British health workers March 29, 2020Airbnb hosts will provide free rooms for workers in Britain's National Health Service (NHS) to support their work during the coronavirus outbreak, the company said on Sunday.
- UK broadband providers lift data caps during coronavirus crisis March 29, 2020Britain's big telecoms providers have agreed to remove all data caps on fixed-line broadband services that have become a lifeline for people isolated at home during the coronavirus crisis, the government said on Sunday.
- Ackman says Pershing Square no longer has hedges on stocks March 28, 2020William Ackman's Pershing Square Capital Management no longer has hedges on its stock portfolio, but still has some cash to invest if equities decline further as the United States battles the coronavirus outbreak, the billionaire investor said on Saturday.
- Exclusive: Amazon entices warehouse employees to grocery unit with higher pay March 28, 2020Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.
- As virus threatens, U.S. embraces big government, for now March 28, 2020It may, as House Majority Leader and Maryland Democrat Steny Hoyer said on Friday, be out of love that the United States agreed to shut down much of its economy to stop a viral epidemic and save lives.
- Condom shortage looms after coronavirus lockdown shuts world's top producer March 28, 2020A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production.
- Factbox: Carmakers churn out machines, masks to help fight coronavirus March 28, 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.
- Trump tells GM: Stop 'wasting time', build ventilators to address coronavirus March 28, 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.
- GM reaches settlement over lost vehicle value from defective ignition switches March 28, 2020General Motors Co has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition switches, which have been linked to 124 deaths.
- Apple's factories are running, but suppliers wary about iPhone demand March 28, 2020As China reopens its economy after months of lockdown, Apple Inc's iPhone factories are largely up and running. But with the coronavirus pandemic spreading across the world, the urgent question for the company is how many buyers there will be both for current models and the new slate of phones expected in the fall.
- Wall Street Week Ahead: Fund rebalancing could help buoy stock rebound March 28, 2020Money managers rebalancing their portfolios to boost equity exposure into the end of the quarter may support the nascent stock rally that has followed the steep coronavirus-fueled market drop.
- U.S. regulators give banks relief on accounting standard, derivatives rule March 28, 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.
- Airbnb suspends marketing to save $800 million, top executives take pay cut: source March 27, 2020Airbnb Inc has suspended all its marketing activities to save $800 million this year, and its founders will take no salary for the next six months while top executives will take a 50% cut, according to a person familiar with the matter.