Reuters Business News

Standard Chartered Chief Executive Bill Winters is expected to stay at the bank until the conclusion of its current strategy, its Chairman Jose Vinals said in an internal memo seen by Reuters on Friday.

Hotel bookings have fallen by as much as 40% in some areas of Spain, the country's hotel federation said and flagged an overwhelming impact for the eurozone's fourth largest economy as anxiety about the coronavirus outbreak takes hold.

The U.S. telehealth industry, including market leader Teladoc Health Inc, is preparing for a surge in demand as public health officials aiming to contain the fast-spreading new coronavirus encourage use of alternatives to clinic visits and patients seek to avoid public spaces.

A three-year pact between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.

A Spanish pre-Easter tradition, where Catholics flock in droves to kiss statues of Jesus and Mary, fell victim to the coronavirus epidemic this week as churches with some of the most sought-after statues told worshippers not to touch or kiss them.

Thyssenkrupp shares hit a record low on Friday, prompting its finance chief to come out and defend the ailing conglomerate which must convince investors that it can earn cash following the sale of its elevator division.

U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost heading into the coronavirus outbreak, which has stoked fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.

Mastercard Inc closed its office in Sao Paulo and an annex location near its headquarters in New York after an employee contracted coronavirus, Bloomberg news reported on Friday, citing a statement from the payment processor.

Morgan Stanley is shifting part of its London-based sales and trading staff to a secondary site near Heathrow airport to ensure its trading desks can operate smoothly through the coronavirus outbreak, two sources familiar with the matter said.

An Australian family is rolling in a much-coveted commodity after mistakenly ordering 48 boxes instead of 48 rolls of toilet paper online.

JPMorgan Chase & Co Chief Executive and Chairman Jamie Dimon has spoken to senior colleagues and "feels really good" after undergoing heart surgery, a source familiar with the matter told Reuters.

A Florida toymaker plans layoffs. A Wisconsin construction gear manufacturer has frozen hiring. And a California cosmetics company has idled some production, leaving 20 temporary workers with no paycheck.

U.S. employers maintained a robust pace of hiring in February, giving the economy a boost heading into the coronavirus outbreak, which has stoked fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.

Futures traders are betting the Federal Reserve will slash U.S. interest rates in coming months to blunt damage to the world's largest economy, as governments and companies move to control the spread of the new coronavirus by limiting travel and public gatherings.

There is no more oil output deal between Russia, its allies and members of OPEC oil-producing countries, Russian Energy Minister Alexander Novak said on Friday, adding that the OPEC+ group of nations would continue to monitor the market situation.

Is it possible we may see a wave of corporate defaults at a time when interest rates are at record lows and falling? In Europe, where many rates are below 0%, signs of stress are emerging as the coronavirus outbreak hits companies' bottom lines. An index of credit default swaps on 75 high-risk European companies compiled by IHS Markit -- the iTraxx Europe Crossover - has surged to the highest in almost four years. The list is pretty diverse: airlines, retailers, carmakers and others all feature.

The death toll from an outbreak of coronavirus in Italy has risen by 49 to 197, the Civil Protection Agency said on Friday, the largest daily increase in fatalities since the contagion was uncovered two weeks ago.

A U.S. House investigative report into two Boeing 737 MAX crashes that killed 346 people will fault the Federal Aviation Administration's (FAA) approval of the plane and Boeing's "design failures."

Starbucks Corp has stopped accepting reusable cups and thermos flasks from customers in Europe, the Middle East and Africa to prevent the spread of coronavirus, though it will still honor the promised discount for anyone carrying one.

A three-year honeymoon between OPEC and Russia descended into acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.