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Updated: 4 years 27 weeks ago
Fed adopts new 'stress capital buffer' for large U.S. banks
The U.S. Federal Reserve unveiled new rules on Wednesday that create a "stress capital buffer" to determine how much banks must hold in reserve to guard against downturns.
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In next recession, Fed needs upfront promises, former staffers say
((This March 4 story has been corrected to fix the first name of David Reifschneider in second paragraph))
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Coronavirus shock and oil price fall pummel world stocks
Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen.
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IMF says governments should offer cash transfers, tax relief to ease coronavirus effects
Government policymakers will need to implement “substantial” targeted fiscal, monetary and financial market measures to combat the economic impact from the rapidly spreading coronavirus, International Monetary Fund chief economist Gita Gopinath said on Monday.
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Saudi Aramco shares dive, Gulf debt hit as oil price plunges
Saudi Aramco shares fell by as much as 10% on Monday, extending a dive below the initial public offering price, after Saudi Arabia cut its official selling prices for crude and global oil markets plunged in response to news of a big output increase.
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Futures trampled by oil shock, virus fears
U.S. stock index futures plunged 5% on Monday to hit a daily trading limit, as global recession fears were amplified by a 25% slump in oil prices and the relentless march of the coronavirus across the United States and Europe.
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Airlines suspend flights due to coronavirus outbreak
Airlines across the globe have suspended flights or modified services in response to the coronavirus outbreak.
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Oil prices plunge by a third as rivals Saudi and Russia turn on the taps
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
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Saudi investors feel the pain of Aramco free-fall
Saudi investors, who dipped into savings and took out loans to participate in Aramco's record share offering, have been shocked by the free-fall in the shares of the kingdom's crown jewel after an oil output pact between OPEC and its allies collapsed.
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Stock futures plummet on oil shock, virus fears
U.S. stock index futures plunged on Monday after Saudi Arabia launched an oil price war with Russia, sending crude tumbling 25% and intensifying fears about a global recession.
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Exclusive: Japan to boost special financing for coronavirus firms to $16 billion
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
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Tesco plans $6.6 billion shareholder return from Thai, Malaysia sale
Tesco plans to return $6.6 billion to shareholders after it agreed to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of a plan to refocus on Britain.
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Oil prices plunge by a third after Saudi Arabia launches output war
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War after Saudi Arabia signalled it would hike output to win market share when the coronavirus has already left the market oversupplied.
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Tesco to return $6.6 billion to shareholders after sale of Thai, Malaysia assets
Britain's Tesco plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of $10.6 billion.
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Dashboard of Japanese stocks with a stake in Olympics' success
Japanese stocks banking on the success of the Olympics this year are taking a hit as the rapid spread of coronavirus is threatening cancellation of the world's biggest sporting tournament.
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Exclusive: Japan to boost special financing for coronavirus-hit firms to $16 billion, document shows
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
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Saudi Aramco drops 10% after kingdom triggers oil price fall
Saudi Aramco shares fell 10% on Monday after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month, prompting a sharp drop in prices.
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Robots step in as cheap labor dries up in Eastern Europe
Istvan Simon's factory in western Hungary churns out more than a million plastic parts a day but on a busy morning in one of its large production halls there is only the sound of machines clicking and whirring. Workers have all but disappeared.
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Struggling Nissan's China vehicle sales drop 80% in February
Nissan Motor Co's vehicle sales in China, its biggest market, dropped 80% in February as coronavirus concerns sapped demand, in another blow to the carmaker which is struggling to recover from a profit free fall.
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Coronavirus shock, oil crash sinks world stocks
Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already panicked by the coronavirus fleeing for the safety of bonds and the yen.
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