Reuters Business News

Qantas Airways Ltd has asked Airbus SE for an extension to a March-end deadline to order up to 12 A350-1000 planes capable of the world's longest commercial flights from Sydney to London, the airline's CEO said on Tuesday.

Amazon.com Inc on Monday is set to announce a new business line selling the technology behind its cashier-less convenience stores to other retailers, the company told Reuters.

Heineken NV will invest 865 million reais ($183.14 million) to expand its Ponta Grossa brewing plant in Brazil, the company said on Monday, as competition between the world's two largest beer makers bubbles up.

Wall Street suffered its biggest one-day loss since the 2008 financial crisis on Monday and recession worries loomed large as tumbling oil prices and ongoing coronavirus fears prompted investor panic on the anniversary of the U.S. stock market's longest-ever bull run.

Crude prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.

Asian markets were set for a fraught session on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, piling pressure on policy makers globally to short-circuit the panic.

The U.S. Consumer Financial Protection Bureau (CFPB) said on Monday it charged Fifth Third Bank, National Association, with creating fake client deposit and credit-card accounts and transferring clients' funds to those accounts without consent, citing an abuse of fair lending and savings laws.

Trading in options on Wall Street's fear gauge was impossible in the first minutes of Monday's session due to an absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets Inc said.

Twitter Inc on Monday reached an agreement with Elliott Management that lets Jack Dorsey stay as chief executive and adds three new directors a few days after Elliott's plan to push out the social media company's chief became public.

New Zealand's Commerce Commission said on Wednesday that it has issued a warning to HSBC Holdings Plc over its failure to comply with the information disclosure requirements.

The United States on Monday accused "state actors" of trying to manipulate global oil markets, saying their actions contributed to a big drop in oil prices and adding that American energy suppliers were well placed to withstand the volatility.

While no U.S. airlines have requested a bailout to date, the head of Hawaiian Airline said on Monday that it was difficult to predict what would happen in the weeks and months ahead for the industry as travelers cancel flights amid coronavirus uncertainty.

Fears about the rapidly spreading coronavirus and its impact on the global economy, which deepened on Monday with the collapse of oil prices, have evaporated over $5 trillion of the S&P 500's market value in recent weeks.

U.S. President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified "Fake News," for a precipitous drop in U.S. stock prices on Monday, amid sliding demand for crude due to the coronavirus.

Global stock markets plunged on Monday and oil prices tumbled by as much as a third after Saudi Arabia launched a price war with Russia, sending investors already spooked by the coronavirus outbreak fleeing for the safety of bonds and the Japanese yen.

JPMorgan Chase & Co could eliminate up to 140 jobs in Switzerland in an effort to cut costs, a person familiar with the matter told Reuters on Monday, confirming a report by the Swiss financial news website Finews.

Airlines across the globe have suspended flights or modified services in response to the coronavirus outbreak.

Here's what you need to know about the coronavirus:

China's business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country's broader economic resumption.

The words "bear market" and "recession" are being used with increasing frequency as investors try to assess how badly the coronavirus outbreak will damage global growth and to what extent it could further weigh on asset prices.