Reuters Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
Updated: 4 years 29 weeks ago
Zero rates, zero impact: Fed & co fail to calm markets
Stock markets and oil prices continued to nose-dive on Monday after the second emergency cut in U.S. interest rates in as many weeks -- effectively to zero -- and supportive measures from all corners failed to quell coronavirus fears.
Categories: Reuters
Trading on Wall Street halted as S&P 500 tumbles 8%
The S&P 500 tumbled 8% at opening on Monday, triggering an automatic 15-minute halt of Wall Street's three main indexes for the third time in six days, as traders reacted to drastic weekend measures from the Federal Reserve to stave off a global recession.
Categories: Reuters
Brent falls 10%, WTI below $30 as coronavirus spreads
Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
Categories: Reuters
Stock market rout doubles pain for energy firms that took shares for deals
Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers have all but dried up.
Categories: Reuters
Italian government to take control of Alitalia: draft decree
The Italian government plans to take control of Alitalia, a draft decree seen by Reuters showed on Monday, as the loss-making carrier risks going belly up due to the impact of the coronavirus outbreak.
Categories: Reuters
Wall Street to tumble as second Fed rate cut fans fears
Wall Street looked set to plunge at opening on Monday as a second emergency rate cut by the U.S. Federal Reserve within two weeks intensified fears of recession.
Categories: Reuters
Virgin Atlantic to ground up to 85% of fleet in coronavirus crisis
Virgin Atlantic, the UK-based airline, said it would ground 75% of its fleet by 26 March and by up to 85% at points in April, as it canceled more flights due to coronavirus.
Categories: Reuters
Fed brings out big guns, investors fear the worst
A massive rollout of easing measures by the Federal Reserve served to deepen some investors' anxiety over how effectively policymakers will be able to mitigate the economic damage from a spreading coronavirus pandemic.
Categories: Reuters
LSE gets U.S. nod for Refinitiv deal
The London Stock Exchange Group said on Monday it had gained approval from the U.S. Committee on Foreign Investment for its $27 billion takeover of analytics firm Refinitiv, judging there were no national security concerns with the deal.
Categories: Reuters
JPMorgan allows employees to work from home as coronavirus spreads: memo
JPMorgan Chase & Co has asked all managers globally to allow employees who can effectively work from home to begin doing so to help with social distancing as the coronavirus pandemic spreads, according to a memo seen by Reuters.
Categories: Reuters
Lockheed Martin's Hewson to step down as CEO
Lockheed Martin Corp said on Monday Marillyn Hewson will step down as chief executive officer, effective June 15.
Categories: Reuters
Feed the hamster: German retailer asks students to restock shelves
A German supermarket chain called on Monday for students whose universities have shut due to the coronavirus crisis to help it refill its shelves after shoppers stockpiled many essential goods, known as "hamstering" in German.
Categories: Reuters
Ryanair slashes flights, says could ground entire fleet
Ryanair will ground most of its aircraft over the next seven to 10 days as Europe's biggest low-cost airline braces for an up to 80% cut in capacity over the next two months and could even ground its entire fleet due to coronavirus travel restrictions.
Categories: Reuters
Starbucks temporarily moves to 'to go' model amid virus outbreak
Starbucks Corp has moved to a "to go" model in all its company-owned stores in the United States and Canada for at least two weeks to facilitate social distancing among customers amid the spread of coronavirus, the coffee chain said on Sunday.
Categories: Reuters
Hong Kong's Cathay Pacific to sell six Boeing aircraft to BOC Aviation
Hong Kong's Cathay Pacific Airways Ltd on Monday said it would sell six Boeing 777-300ER aircraft and its associated equipment for $703.8 million to BOC Aviation Ltd .
Categories: Reuters
French antitrust regulator fines Apple $1.2 billion
France's competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros ($ 1.23 billion), saying it was guilty of anti-competitive behavior towards its distribution and retail network.
Categories: Reuters
Skoda, Hyundai's Czech plant unions call for production halt: CTK
Unions at the Czech car factories of Volkswagen's Skoda Auto and Hyundai Motor Co. have called for a 14-day quarantine for employees, which would halt production for that time, news agency CTK reported on Monday.
Categories: Reuters
After the Fed, the dollar may not subside
When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction.
Categories: Reuters
Finablr raises doubts about its future, CEO leaves
Payments group Finablr on Monday expressed doubts about its ability to continue as a going concern and said its chief executive would step down.
Categories: Reuters
Hong Kong's Cathay Pacific to sell six Boeing aircrafts to BOC Aviation
Hong Kong's Cathay Pacific Airways Ltd on Monday said it would sell six Boeing 777-300ER aircrafts and its associated equipment for $703.8 million to BOC Aviation Ltd .
Categories: Reuters