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Boeing stock wipes out gains made during ousted CEO Muilenburg's term

Reuters Business News - Mon, 03/16/2020 - 19:04
Boeing Co's shares on Monday erased all gains recorded during ousted CEO Dennis Muilenburg's tenure due to the economic fallout of the coronavirus pandemic and uncertainty around the 737 MAX's return to service, which also led to a credit rating downgrade by S&P Global Ratings.
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Qantas to slash 90% of international capacity as new virus restrictions bite

Reuters Business News - Mon, 03/16/2020 - 19:04
Qantas Airways Ltd said on Tuesday it would cut its international capacity by around 90% until at least the end of May as travel demand to Australia plunges because of new restrictions on arrivals related to the coronavirus.
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Some European banks shut branches to limit coronavirus spread

Reuters Business News - Mon, 03/16/2020 - 19:01
Two of Germany's largest banks have temporarily shut hundreds of branches, while Italian lenders have shortened opening hours as they grapple with staff shortages and the spread of coronavirus.
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McDonald's, Starbucks halt dine-in service in U.S. to enforce social distancing

Reuters Business News - Mon, 03/16/2020 - 18:51
McDonald's Corp and Starbucks Corp have decided to close dine-in areas at their U.S. restaurants and shifted to take-away and delivery services to enforce social distancing in the wake of the coronavirus outbreak.
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Qantas to slash 90% of international capacity as new restrictions bite

Reuters Business News - Mon, 03/16/2020 - 18:47
Qantas Airways Ltd said on Tuesday it would cut its international capacity by around 90% until at least the end of May as travel demand to Australia plunges because of new restrictions on arrivals related to the coronavirus.
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PG&E wins approval of $23 billion bankruptcy financing package - Bloomberg News

Reuters Business News - Mon, 03/16/2020 - 18:43
Power producer PG&E Corp won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-03-16/pg-e-wins-approval-of-23-billion-bankruptcy-financing-package on Monday.
Categories: Reuters

Wall Street deepens historic slump as virus response comes up short

Reuters Business News - Mon, 03/16/2020 - 18:36
Wall Street suffered its biggest drop since 1987 on Monday, with the S&P 500 closing at its lowest level since December 2018, as investors fear the coronavirus pandemic is proving a tougher opponent than central banks, lawmakers or the White House are currently capable of battling.
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U.S. markets should stay open despite turmoil, says securities regulator

Reuters Business News - Mon, 03/16/2020 - 18:36
U.S. markets should stay open despite intense volatility, the head of the U.S. securities regulator said on Monday, quashing industry speculation that the government might shut down the country's exchanges to stop a plunge in stock prices.
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Q&A: Government coronavirus directives shield employers from bias, safety claims: MoFo partners

Reuters Business News - Mon, 03/16/2020 - 18:23
The coronavirus pandemic is forcing employers to make tough decisions that could lead to legal liability, but most companies should be in the clear if they follow the advice of government authorities, according to Morrison & Foerster partners Janie Schulman and Christine Lyon.
Categories: Reuters

Markets crater as coronavirus fears overwhelm central bank emergency measures

Reuters Business News - Mon, 03/16/2020 - 18:02
Markets reeled on Monday, with stocks on Wall Street and the price of Brent crude tumbling more than 10%, as the Federal Reserve's second emergency rate cut in as many weeks failed to calm fears of a coronavirus-induced recession.
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Exclusive: Airbus draws up contingency plan to slow or halt output - sources

Reuters Business News - Mon, 03/16/2020 - 17:54
Airbus has drawn up contingency plans to slow or stop production if France is placed under a drastic lockdown due to coronavirus, two people familiar with the matter said.
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Make us ventilators to fight coronavirus, UK asks Ford and Rolls Royce

Reuters Business News - Mon, 03/16/2020 - 17:51
Britain has asked manufacturers including Ford , Honda and Rolls Royce to help make health equipment including ventilators to cope with the coronavirus outbreak and will look at using hotels as hospitals.
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Fed slashes rates again to shore up economy as coronavirus spreads

Reuters Business News - Mon, 03/16/2020 - 17:46
The Federal Reserve unexpectedly cut interest rates on Sunday for the second time in less than two weeks, an emergency move to help shore up the U.S. economy as a coronavirus pandemic spreads worldwide.
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Fed slashes rates, global central banks coordinate to cushion coronavirus blow

Reuters Business News - Mon, 03/16/2020 - 17:46
The U.S. Federal Reserve and global central banks moved aggressively on Sunday to buttress a world economy unraveling rapidly amid the coronavirus pandemic, with the Fed slashing interest rates to near zero, pledging hundreds of billions of dollars in asset purchases and backstopping foreign authorities with the offer of cheap dollar financing.
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JPMorgan says it resolved outage in trading platform last week

Reuters Business News - Mon, 03/16/2020 - 17:22
JPMorgan Chase & Co said on Monday it had resolved an outage experienced on Thursday in its U.S. electronic trading platform on the same evening.
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Coronavirus: First test of a U.S. financial system 10 years in repair

Reuters Business News - Mon, 03/16/2020 - 17:15
A health emergency dismissed at first as a fleeting risk to the U.S. economy has turned into a full-on test of whether a decade of planning, regulation, research and soul-searching has left the financial system resilient to a major shock and its central bank able to mount a rescue.
Categories: Reuters

Factbox: History of extended New York Stock Exchange market closings

Reuters Business News - Mon, 03/16/2020 - 17:13
With state and local governments across the United States taking steps to contain the coronavirus spread, including requiring the closing of schools, restaurants and other meeting places, questions have begun to swirl on whether stock markets will shutter.
Categories: Reuters

UK's Johnson: Northern Ireland as well protected from virus as Ireland

Reuters Business News - Mon, 03/16/2020 - 17:07
British Prime Minister Boris Johnson said on Monday that people in Northern Ireland were being as well protected from the coronavirus outbreak as people just across the border in the Republic of Ireland, which has adopted more stringent measures.
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UK PM Johnson describes coronavirus measures as most far-reaching in peacetime

Reuters Business News - Mon, 03/16/2020 - 17:07
British Prime Minister Boris Johnson said that the government has announced the most far-reaching measures the population has experienced in peacetime to slow the spread of coronavirus.
Categories: Reuters

Carrefour mounts shields for French cashiers in coronavirus crisis

Reuters Business News - Mon, 03/16/2020 - 17:02
Carrefour began putting up protective barriers for cashiers in its French supermarkets on Monday, as it beefs up sanitary measures and looks to keep business flowing as France shuts down other sectors to fight the coronavirus outbreak.
Categories: Reuters
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