Feed aggregator

The Dow Jones index was on course on Thursday for its worst performance since Wall Street's "Black Monday" crash of 1987, as President Donald Trump's move to curb travel from Europe added to growing corporate distress over the coronavirus pandemic.

A coronavirus-induced meltdown on Wall Street and other financial markets saw prices plunge on Thursday for everything from stocks and corporate bonds to bitcoin, oil and gold -- wiping trillions of dollars from investment portfolios and company valuations.

Volkswagen's expansion in electric cars will open up new business opportunities in storing and managing energy, encroaching on business currently dominated by utilities and energy firms, chief strategist Michael Jost said on Thursday.

The airlines industry body called on governments on Thursday to support transatlantic carriers hit by cash-flow problems due to the coronavirus crisis by offering measures such as credit lines and tax breaks.

U.S. lawmakers plan to unveil a bill on Thursday that could be used to block Huawei Technologies Ltd from accessing U.S. banks for certain transactions, in a bid to thwart the Chinese telecoms giant amid frustration over the failure of prior sanctions to curb its business.

The Dow Jones Industrials index was on course for its worst day since 1987 as President Donald Trump's sweeping move to restrict travel from Europe added to growing signs of corporate distress in the face of the coronavirus pandemic.

JPMorgan Chase & Co Chief Executive Officer Jamie Dimon was released from a New York hospital and is now at home recovering from an emergency heart surgery he underwent last week, the bank said on Thursday.

Oil prices fell, with Brent crude sliding 8% on Thursday after U.S. President Donald Trump unexpectedly announced restrictions on travel from Europe in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.

German carrier Lufthansa has been forced by the coronavirus epidemic to halt the sale of the international operations of its airline caterer LSG, the company said on Thursday, confirming an earlier Reuters report.

The number of Americans filing for unemployment benefits unexpectedly fell last week as employers continued to hold on to their workers, but the coronavirus pandemic is expected to lead to an increase in layoffs as companies battle supply chain disruptions and sagging demand for some goods and services.

U.S. travel restrictions on passengers arriving from Europe's border-free Schengen area will affect passengers arriving on 6,747 flights over the next four weeks or 11% of all international flights, flight data provider OAG said.

Volkswagen will launch a new software operating system this year that it hopes will make accidents involving its cars a thing of the past by 2050, the company said on Thursday.

Global stocks plunged into a bear market and oil slumped further on Thursday after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves overnight to restrict travel from Europe over the spread of the coronavirus.

Sinclair Oil Corp, which operates two Wyoming refineries and has licensed more than 1,000 branded gasoline stations, is reviewing offers to buy the company, according to three people familiar with the matter.

German carrier Lufthansa has been forced by the coronavirus epidemic to halt the sale of the international operations of its airline caterer LSG, two people close to the matter said.

The New York Stock Exchange does not currently plan to close its trading floor and the markets are functioning as expected, even as concerns over the coronavirus cause sharp spikes in volatility, NYSE President Stacey Cunningham said on Thursday.

NYSE President Stacey Cunningham said on Thursday the exchange operator, which is owned by Intercontinental Exchange Inc , does not currently plan to close its trading floor and that the markets were functioning as expected.

Oil prices fell more than 6% on Thursday after U.S. President Donald Trump unexpectedly announced restrictions on travel from Europe in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.

Shares in Boeing Co dropped more than 16% on Thursday on increased concerns over a fallout from news of sweeping U.S. travel restrictions on Europe meant to curb the spread of coronavirus.

European airlines bore the brunt of a dramatic expansion of the coronavirus crisis on Thursday, as U.S. travel curbs on much of the continent deepened the sector's misery and piled more pressure on governments to offer emergency support.