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British budget airline easyJet has grounded its fleet of 344 planes and has no clear idea when it might resume flights, it said on Monday, highlighting the strain on airlines trying to survive the coronavirus pandemic.

American Airlines Group Inc is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said.

Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months.

British low cost airline easyJet said it had grounded its entire fleet of over 330 aircraft and had no visibility on when it could restart flights, highlighting the heavy strain on airlines trying to survive to fly again after coronavirus.

China's largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely big enough to weather any fallout.

Troubled fashion retailer Ted Baker on Monday named Chief Financial Officer Rachel Osborne to the permanent role of chief executive officer, replacing Lindsay Page who stepped down last year.

Asian shares slid on Monday as fears mounted that the global coronavirus shutdown could last for months although markets regained some lost ground late in the session with Australia posting a standout jump.

President Donald Trump, who excoriated General Motors Co on Friday and invoked emergency powers to compel the production of badly needed ventilators to tackle the coronavirus pandemic, has abruptly shifted gears to praise the automaker.

China's central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities ramped up steps to relieve pressure on an economy ravaged by the coronavirus pandemic.

The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and other borrowers with less than perfect credit.

Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended a formula to divide up the money.

Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks' best efforts.

Toyota Motor Corp said on Monday that it would extend a suspension at all of its factories in Europe with the exception of Russia until further notice, with a restart expected no earlier than April 20.

Asian share markets looked set for a rocky start on Monday as U.S. stock futures took an early spill amid fears the global shutdown for the coronavirus could last for months, doing untold harm to economies.

Thousands of London's underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won't need them.

After a brutal meltdown, some investors have been wading back into U.S. stocks. But others are wary of another leg down as the coronavirus spreads and its economic impact is difficult to predict.

How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.

Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday.

Luxury fashion group Chanel said on Sunday it would launch production of face masks to help bolster supplies in France, as the coronavirus sweeps across the country.

After a brutal meltdown, some investors have been wading back into U.S. stocks. But others are wary of another leg down as the coronavirus spreads and its economic impact is difficult to predict.