Reuters: Business News
- Stocks slide, on pace for worst quarter since 2008 March 31, 2020Global stock markets slid on Tuesday as investors continued to assess the economic damage from the coronavirus pandemic, leaving the MSCI benchmark of world equities on pace to finish its worst quarter since the financial crisis of 2008.
- Oil edges higher after 18-year lows prompt U.S.- Russia talks plan March 31, 2020Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks on stabilising energy markets, with benchmarks climbing off 18-year lows, though the coronavirus-related demand hit capped gains.
- S&P 500 set for worst first quarter since 1938 March 31, 2020Wall Street was set to open lower on Tuesday, with the S&P 500 headed for its worst first quarter since 1938 as evidence grew of the scale of the damage caused by the collapse in oil prices and business activity due to the coronavirus.
- U.S. unemployment offices sitting on mountain of pending claims March 31, 2020Last week's record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of pending applications, and the new stimulus bill extends benefits to the self-employed.
- Furniture giant IKEA making masks to help fight coronavirus March 31, 2020Furniture giant IKEA is producing face masks and other protective gear for hospitals, joining a growing list of companies branching out of their normal business areas to help meet equipment shortages in the fight against coronavirus.
- IMF extends bilateral borrowing arrangements through 2023 March 31, 2020The International Monetary Fund said on Tuesday its board approved a new three-year framework for bilateral borrowing agreements, ensuring that its full $1 trillion lending capacity will be maintained as member countries battle the coronavirus pandemic.
- Rolls-Royce targets in jeopardy as pandemic brings air travel slump March 31, 2020British aero-engine maker Rolls-Royce will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.
- Goldman Sachs slashes second quarter U.S. GDP estimate further March 31, 2020Goldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would be higher, citing anecdotal evidence and "sky-high jobless claims numbers."
- Coronavirus concerns delay restart of Ford's North American production March 31, 2020Ford Motor Co said on Tuesday it was postponing its plan to restart production at its North America plants due to safety concerns for its workers amid the coronavirus pandemic.
- Disney+ to launch in India on April 3: ET March 31, 2020Walt Disney Co's video streaming service, Disney+, will launch in India on April 3 through its local partner Hotstar, the Economic Times reported https://economictimes.indiatimes.com/magazines/panache/amidst-lockdown-disney-plus-makes-it-way-to-india-users-can-start-streaming-from-april-3/articleshow/74913298.cms on Tuesday.
- U.S. proposes minimum air service rules for airlines receiving assistance March 31, 2020The U.S. Transportation Department on Tuesday proposed minimum flight requirements for passenger airlines receiving aid from the government's $50 billion grant and loan fund.
- Global M&A dwindles as coronavirus batters world’s economies March 31, 2020Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers.
- Ford, GE to produce 50,000 ventilators in 100 days March 31, 2020Ford Motor Co said on Monday it will produce 50,000 ventilators over the next 100 days at a plant in Michigan in cooperation with General Electric's healthcare unit, and can then build 30,000 per month as needed to treat patients afflicted with the coronavirus.
- Explainer: What the Federal Reserve has done in the coronavirus crisis March 31, 2020The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including slashing rates to zero and relaunching large-scale asset purchases.
- Google Japan defends impartiality of search results amid lockdown rumors March 31, 2020Google on Tuesday defended the impartiality of its search results after users in Japan seeking to corroborate rumors of an imminent state of emergency declaration by the government were met with no results on its website.
- Huawei warns China will strike back against new U.S. restrictions March 31, 2020Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States.
- Crisis-hit airlines face crippling cash squeeze, IATA says March 31, 2020Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the coronavirus crisis.
- Virgin Money delays branch closures and job cuts due to coronavirus lockdown March 31, 2020British bank Virgin Money said on Tuesday that it will halt until further notice the planned closure of 52 branches and 500 job losses, as it grapples with the fallout from the coronavirus outbreak.
- INEOS to build third European hand sanitiser plant in ten days March 31, 2020Chemicals manufacturer INEOS [INEOSG.UL] said on Tuesday it will build a hand sanitiser plant in France in 10 days to help meet a European shortage and has begun production at its new British and German plants ahead of schedule.
- Dollar surges on quarter-end flows; outlook robust March 31, 2020The dollar climbed against a swathe of currencies on Tuesday amid fiscal year-end demand by Japanese firms while the Australian dollar slipped despite a Chinese survey showing manufacturing returned to growth in March.