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Dollar falls after Fed QE, on fiscal stimulus hopes
The dollar fell broadly on Tuesday after the U.S. Federal Reserve on Monday committed to buy an unlimited amount of bonds and as investors were optimistic the American government would pass a stimulus package to offset the economic impact of the coronavirus pandemic.
Categories: Reuters
Coca-Cola to suspend production in India amid coronavirus lockdowns
Coca-Cola's India unit said on Tuesday it has temporarily suspended production at its manufacturing facilities across the country following widespread lockdowns to halt the spread of coronavirus.
Categories: Reuters
Aston Martin to temporarily shut UK manufacturing facilities
British luxury carmaker Aston Martin said on Tuesday it would suspend production at its UK manufacturing facilities starting Wednesday until April 20 to cope with the coronavirus pandemic, which has hurt demand for its cars.
Categories: Reuters
Amazon to stop non-essential sales in India
Amazon.com Inc's India unit on Tuesday said it will halt orders for non-essential products in India to prioritize customers' critical needs at a time when much of the country is under lockdown to prevent the spread of coronavirus.
Categories: Reuters
Wall Street bounces on hopes of $2 trillion stimulus, Boeing boost
Wall Street bounced from three-year lows on Tuesday on hopes of a major fiscal stimulus to blunt the economic damage from the coronavirus pandemic, while Boeing surged on signs that its grounded jet could fly by the middle of the year.
Categories: Reuters
After solid fourth-quarter, investors should brace for U.S. buyback come-down
After a 3.2% increase in U.S. corporate share buybacks between the third and fourth quarters, investors will see Q1 reductions and a "dismal" Q2 as companies look to conserve cash during the coronavirus crisis, according to S&P Dow Jones Indices.
Categories: Reuters
Ford extends production halt at U.S. plants beyond March 30
Ford Motor Co said on Tuesday it does not plan to restart production at its manufacturing plants in the United States, Canada and Mexico on March 30, as was originally planned.
Categories: Reuters
U.S. new home sales fall; January revised sharply up
Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic, which is boosting unemployment and severely disrupting economic activity.
Categories: Reuters
Spirit AeroSystems suspends Boeing-related production for two weeks
Spirit Aerosystems , Boeing Co's largest supplier, is temporarily suspending production for the airplane maker at many of its facilities in the United States for two weeks, as the global coronavirus pandemic saps demand across the industry.
Categories: Reuters
Bombardier halts most operations in Canada due to coronavirus
Bombardier pulled its 2020 outlook on Tuesday and said it would halt all non-essential work at most of its Canada-based operations until April 26 to help slow the spread of the coronavirus pandemic.
Categories: Reuters
Comcast shuts theme parks, delays film distribution due to COVID-19
Comcast Corp on Tuesday warned of a hit to its results from the coronavirus outbreak as it shut all its theme parks and delayed distribution of films in theaters worldwide.
Categories: Reuters
UK banks scramble to protect customers from wave of coronavirus scams
UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes.
Categories: Reuters
Chevron cuts 2020 spending, Permian production forecasts
Chevron Corp will cut capital spending by $4 billion this year and suspend share buybacks, the latest oil company to slash costs in the face of massive demand destruction from the worsening coronavirus pandemic and an unprecedented slide in oil prices.
Categories: Reuters
Boundless Fed bond-buying fuels stocks rebound, dollar recoils
Financial markets rebounded on Tuesday, with stocks and oil jumping about 4% in Europe, while the safe-haven dollar recoiled as unprecedented global stimulus efforts gained traction.
Categories: Reuters
Oil jumps 3% towards $28 on Fed steps to support economy
Oil jumped 3% on Tuesday towards $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.
Categories: Reuters
France's Accor, Airbnb help provide rooms for medics during crisis
French hotel group Accor and home rental company Airbnb are launching online services to help medical staff fighting the coronavirus epidemic in France find emergency housing.
Categories: Reuters
Ford joins 3M, GE in speeding up ventilator, respirator production
Carmaker Ford Motor Co on Tuesday jumped into the emergency push by major U.S. manufacturers to produce thousands of ventilators and respirators needed for critically ill coronavirus patients.
Categories: Reuters
General Motors to draw down $16 billion in credit, suspends 2020 outlook
General Motors Co said on Tuesday it will draw about $16 billion from its credit lines in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak.
Categories: Reuters
Global airlines face emergency, need rescue package now: IATA
Global airlines are in an emergency situation and government rescue packages are needed as quickly as possible to avoid multiple airline collapses, the head of the International Air Transport Association warned on Tuesday.
Categories: Reuters
Unilever to shield workers from financial impact of coronavirus
Consumer goods giant Unilever Plc said on Tuesday it would protect its workforce from the financial impact of the coronavirus by continuing to pay contractors and other part time staff for up to three months.
Categories: Reuters