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Fed's money market move lifts Northern Trust fund above key threshold

Reuters Business News - Mon, 03/23/2020 - 18:31
Liquidity at a $2.2 billion prime money-market fund run by Northern Trust Corp fell below the key 30% U.S. regulatory threshold twice last week, but rebounded above that level after the U.S. Federal Reserve shored up the industry.
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U.S. Fed aims 'bazooka' to backstop coronavirus-hit economy

Reuters Business News - Mon, 03/23/2020 - 18:29
The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.
Categories: Reuters

Nordstrom joins Macy's in suspending dividend amid coronavirus

Reuters Business News - Mon, 03/23/2020 - 18:25
Nordstrom Inc said on Monday it would suspend its quarterly cash dividend and share repurchases as it looks to weather the impact from the coronavirus pandemic.
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Coronavirus drags car dealers into digital commerce

Reuters Business News - Mon, 03/23/2020 - 18:22
Auto retailers have been slow to embrace e-commerce, but the coronavirus pandemic is changing that.
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Fed's big move could help U.S. Treasury liquidity, but effects may not last long

Reuters Business News - Mon, 03/23/2020 - 18:18
The Federal Reserve's unparalleled steps to directly backstop the U.S. economy and its willingness to purchase vast sums of U.S. government debt, mortgage-backed securities and even corporate bonds could help boost depleted liquidity in the $17-trillion Treasury market.
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Historic Fed boost fails to stop Wall Street's coronavirus-driven sell-off

Reuters Business News - Mon, 03/23/2020 - 18:12
Wall Street's slide deepened on Monday as an unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy proved insufficient to sooth investors' fears about the swiftly-spreading coronavirus.
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Twitter ad sales hit by coronavirus but active users soar

Reuters Business News - Mon, 03/23/2020 - 17:43
Twitter Inc pulled its first-quarter revenue outlook and forecast an operating loss on Monday as the coronavirus outbreak crimped ad sales, but said the pandemic boosted the number of active users on the microblogging platform.
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GM accelerates 'Project V' to build ventilators in Indiana

Reuters Business News - Mon, 03/23/2020 - 17:29
General Motors Co and medical equipment maker Ventec are speeding up efforts under a partnership code-named "Project V" to build ventilators at a GM plant in Kokomo, Indiana, to help combat the coronavirus outbreak.
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U.S. trade regulators approve tariff exemption for Apple Watches

Reuters Business News - Mon, 03/23/2020 - 17:13
U.S. trade regulators have approved Apple Inc's request to waive tariffs on China-made Apple Watches, the Office of the United States Trade Representative said in a letter dated Friday.
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What's in the nearly $2 trillion U.S. Senate coronavirus stimulus

Reuters Business News - Mon, 03/23/2020 - 16:57
The U.S. Senate on Monday was negotiating a nearly $2 trillion emergency bill that aims to stem some of the economic toll of the coronavirus pandemic.
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Uber appoints former Mattel CEO Robert Eckert to board

Reuters Business News - Mon, 03/23/2020 - 16:37
Uber Technologies Inc said on Monday it had appointed consumer industry veteran Robert Eckert to its board as an independent director.
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With latest moves, Fed becomes creditor in chief for U.S. business

Reuters Business News - Mon, 03/23/2020 - 16:33
In undertaking what will undoubtedly be its largest rescue effort ever, the Federal Reserve on Monday announced programs that represent a never-before-seen intervention by the central bank into the heart of the "real" American economy.
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Explainer: How the Fed's latest move will get money to Main Street

Reuters Business News - Mon, 03/23/2020 - 16:28
The U.S. Federal Reserve said on Monday it would backstop an unprecedented range of credit for households, small businesses and major employers in an attempt to stop the economy from sliding into depression as the coronavirus spreads.
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Some U.S. wealth advisers tell clients to stay put as markets fall

Reuters Business News - Mon, 03/23/2020 - 16:10
The deepest U.S. stock market sell-off since the 2008 financial crisis is prompting some financial advisers to tell wealthy clients to hold steady or even increase their equity exposure if they have at least 10 years until retirement.
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U.S. junk bonds fall despite unprecedented Fed stimulus

Reuters Business News - Mon, 03/23/2020 - 16:00
Prices of the riskiest U.S. corporate bonds fell on Monday as investors bet that the Federal Reserve's pledge to backstop an unprecedented range of debt would not materially change the outlook for less financially stable companies, particularly those at risk of default.
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Twitter withdraws first-quarter revenue forecast on virus fears

Reuters Business News - Mon, 03/23/2020 - 15:43
Twitter Inc said on Monday it is withdrawing its revenue and operating income forecast for the first quarter, citing the growing impact of the coronavirus outbreak.
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Market panic lingers despite unprecedented Fed support

Reuters Business News - Mon, 03/23/2020 - 15:38
Global equities slid further and safe-haven assets rose on Monday after a massive array of new programs from the U.S. Federal Reserve underscored the "severe" disruptions the coronavirus pandemic poses to a fast-weakening world economy.
Categories: Reuters

Historic Fed boost fails to stop Wall Street's virus-driven sell-off

Reuters Business News - Mon, 03/23/2020 - 15:17
Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy.
Categories: Reuters

U.S. prosecutors charge PDVSA contractor with money laundering

Reuters Business News - Mon, 03/23/2020 - 15:00
U.S. prosecutors have charged a Venezuelan oilfield contractor with money laundering for bribing officials at state oil company Petroleos de Venezuela to win overpriced contracts, and then seeking to hide the proceeds in the United States.
Categories: Reuters

Airbus sees airlines seeking to defer or cancel orders

Reuters Business News - Mon, 03/23/2020 - 14:40
Airbus said in a stock market filing on Monday that customers could seek to cancel or postpone delivery of airliners and helicopters as the coronavirus crisis continues to escalate.
Categories: Reuters
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