Feed aggregator

European airline stocks already battered by the coronavirus plunged again on Thursday, as a U.S. travel ban on much of continental Europe deepened the sector's misery and piled pressure on governments to offer emergency support.

European airline stocks plunged as much as 20% on Thursday after U.S. President Donald Trump said he would restrict travel from Europe to the United States for 30 days to try to contain the spread of the coronavirus.

Chinese airlines reported a total loss of 20.96 billion yuan ($3 billion) in February as the coronavirus epidemic spread and hit travel demand, the aviation regulator said on Thursday.

A United States travel ban on European visitors will hit U.S. airlines, their employees, and travelers "extremely hard", trade group Airlines for America said on Wednesday.

Vehicle sales in China, the world's biggest car market, tumbled in February as customers stayed at home and away from dealerships due to the coronavirus epidemic that has killed more than 3,100 people in the world's second-biggest economy.

Automakers across the world face the possibility of extended supply chain disruptions as factories in China stutter back to life after closures due to the coronavirus outbreak.

Oil prices fell on Thursday following surprise travel restrictions imposed by U.S. President Donald Trump in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.

Royal Dutch Shell Chief Executive Ben van Beurden's pay package halved last year to 10 million euros ($11.3 million) after the energy company suffered seven deaths and saw a drop in revenue.

Automakers in China are calling on the government to help after industry-wide sales plunged 79% in February to mark their biggest ever monthly decline, with demand pummelled by the coronavirus outbreak.

The Bank of Japan is ready to take further steps to support the economy in the face of the coronavirus epidemic, Governor Haruhiko Kuroda said after a meeting with Prime Minister Shinzo Abe on Thursday.

JP Morgan analysts have given up on their long-term "overweight" call on Boeing Co shares, cutting their price target for the company by $160 to just $210 dollars in a note to clients on Thursday.

Chinese non-life insurers are discovering a silver lining to the cloud spreading over China's economic performance from the coronavirus outbreak - a sharp drop in car accident claims.

Automakers in China are calling on the government to help after industry-wide sales plunged 79% in February to mark their biggest ever monthly decline, with demand pummelled by the coronavirus outbreak.

Cinema operator Cineworld could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, the company said in its annual results release on Thursday.

All global investors got from U.S. President Donald Trump's coronavirus package were a shock travel ban on Europe and a flashing signal to sell, and none of the large-scale tax breaks or medical tests for Americans they'd been expecting.

Fear about the coronavirus has pulled the S&P 500 down nearly 20% from its record high. So what?

Automakers in China are calling on the government to help after industry-wide sales plunged 79% in February to mark their biggest ever monthly decline, with demand pummeled by the coronavirus outbreak.

Britain's biggest supermarket Tesco does not expect to see anything more than short-term shortages of certain products as customers stockpile over coronavirus, its chairmain said on Thursday.

Food giant Nestle has mandated JPMorgan Chase & Co. to handle the sale of its struggling Chinese peanut milk business Yinlu that could be valued at about $1 billion, Bloomberg reported on Tuesday, citing sources familiar with the matter.

A clampdown on European travel to the United States will heap more pressure on airlines already reeling from the coronavirus pandemic, analysts said, raising the odds of government relief packages as billions of dollars of tourist spending vanish.