Reuters

Boundless Fed bond-buying fuels stocks rebound, dollar recoils

Reuters Business News - Tue, 03/24/2020 - 08:51
Financial markets rebounded on Tuesday, with stocks and oil jumping about 4% in Europe, while the safe-haven dollar recoiled as unprecedented global stimulus efforts gained traction.
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Oil jumps 3% towards $28 on Fed steps to support economy

Reuters Business News - Tue, 03/24/2020 - 08:49
Oil jumped 3% on Tuesday towards $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.
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France's Accor, Airbnb help provide rooms for medics during crisis

Reuters Business News - Tue, 03/24/2020 - 08:48
French hotel group Accor and home rental company Airbnb are launching online services to help medical staff fighting the coronavirus epidemic in France find emergency housing.
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Ford joins 3M, GE in speeding up ventilator, respirator production

Reuters Business News - Tue, 03/24/2020 - 08:47
Carmaker Ford Motor Co on Tuesday jumped into the emergency push by major U.S. manufacturers to produce thousands of ventilators and respirators needed for critically ill coronavirus patients.
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General Motors to draw down $16 billion in credit, suspends 2020 outlook

Reuters Business News - Tue, 03/24/2020 - 08:44
General Motors Co said on Tuesday it will draw about $16 billion from its credit lines in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak.
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Global airlines face emergency, need rescue package now: IATA

Reuters Business News - Tue, 03/24/2020 - 08:07
Global airlines are in an emergency situation and government rescue packages are needed as quickly as possible to avoid multiple airline collapses, the head of the International Air Transport Association warned on Tuesday.
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Unilever to shield workers from financial impact of coronavirus

Reuters Business News - Tue, 03/24/2020 - 07:52
Consumer goods giant Unilever Plc said on Tuesday it would protect its workforce from the financial impact of the coronavirus by continuing to pay contractors and other part time staff for up to three months.
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Boeing chief still sees mid-year return to service for 737 MAX

Reuters Business News - Tue, 03/24/2020 - 07:46
Boeing Chief Executive Dave Calhoun said Tuesday the company still expects a "mid-year" return to service for the grounded 737 MAX and said the company needs to know credit markets remain open to the aerospace manufacturing sector.
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Britain to outline support package for airline industry soon: Sunak

Reuters Business News - Tue, 03/24/2020 - 07:38
British finance minister Rishi Sunak said he expects to make an announcement soon on discussions over a support package for the airlines industry, which has been devastated by travel restrictions, to limit the spread of coronavirus.
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Exclusive: Citadel turns 2020 profit after spotting virus risk early

Reuters Business News - Tue, 03/24/2020 - 07:23
Citadel, the Chicago-based hedge fund giant led by billionaire Ken Griffin, has so far weathered the coronavirus market storm well, turning a slight profit in its flagship Wellington hedge fund for the year through Monday, according to a person familiar with the situation.
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Occidental names former CEO Stephen Chazen as non-executive chair

Reuters Business News - Tue, 03/24/2020 - 07:22
Occidental Petroleum Corp on Tuesday named its former chief executive officer, Stephen Chazen, as non-executive chairman of its board in a bid to end a long and bitter fight with activist investor Carl Icahn.
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General Motors suspends 2020 outlook, to draw down $16 billion in credit

Reuters Business News - Tue, 03/24/2020 - 07:20
General Motors on Tuesday suspended its 2020 outlook and said it plans to draw down about $16 billion from its credit facilities in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak.
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Netflix to cut traffic in India by 25% to ease data gridlock

Reuters Business News - Tue, 03/24/2020 - 07:17
Netflix Inc said on Tuesday it would reduce traffic over telecom networks in India by 25% over the next 30 days to ease data congestion as millions stay indoors because of the coronavirus pandemic.
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Dollar falls broadly as Fed stimulus calms panicky markets

Reuters Business News - Tue, 03/24/2020 - 07:12
The dollar fell broadly on Tuesday, sliding for a second consecutive day after the U.S. Federal Reserve stepped up measures to shield an economy reeling from emergency restrictions on commerce to fight the coronavirus.
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Japan Airlines to slash international flights by 64% as coronavirus dents demand

Reuters Business News - Tue, 03/24/2020 - 07:06
Japan Airlines said on Tuesday it will cut flights on international routes from the country by about 64% between March 29 and April 30, as the coronavirus pandemic has hammers travel demand.
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Spirit AeroSystems temporarily suspends Boeing-related production

Reuters Business News - Tue, 03/24/2020 - 06:57
Spirit Aerosystems , Boeing's largest supplier, is temporarily suspending production of parts for the airline at many of its facilities across the United States, the company said on Tuesday, as the global coronavirus pandemic saps demand across the industry.
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Fiat Chrysler to make face masks for North America

Reuters Business News - Tue, 03/24/2020 - 06:55
Italian-U.S. car giant Fiat Chrysler has confirmed plans to produce a million face masks a month and said it will distribute them to emergency services in North America to help the fight against coronavirus.
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Futures bounce after brutal selloff

Reuters Business News - Tue, 03/24/2020 - 06:52
U.S. stock index futures jumped 5% to their daily upper trading limit on Tuesday, rebounding from a brutal coronavirus-driven selloff on signs that Washington was nearing a deal on a $2 trillion economic rescue package.
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Ford works with 3M, GE to speed up ventilator, respirator production

Reuters Business News - Tue, 03/24/2020 - 06:51
Ford Motor Co said on Tuesday it was working with General Electric's healthcare unit and 3M Co to speed up production of ventilators for patients and respirators for healthcare workers during the coronavirus outbreak.
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Refiner Phillips 66 cuts spending forecast by 18%, commits to dividend

Reuters Business News - Tue, 03/24/2020 - 06:44
Refiner Phillips 66 on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply.
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