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Wall Street resumes trading after 7% plunge triggers halt

Reuters Business News - Mon, 03/09/2020 - 09:00
U.S. stocks resumed trading after being halted as the benchmark S&P 500 index plunged 7% and triggered an automatic 15-minute cutout shortly after the opening bell on Monday.
Categories: Reuters

Twitter strikes deal with Elliott, Silver Lake

Reuters Business News - Mon, 03/09/2020 - 08:49
Twitter Inc on Monday announced a deal with Elliott Management Corp, giving it a board seat just over a week after the activist hedge fund pushed for the removal of Chief Executive Officer Jack Dorsey.
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Saudi Aramco shares dive, Gulf debt markets hit as oil drops

Reuters Business News - Mon, 03/09/2020 - 08:45
Saudi Aramco shares fell by as much as 10% on Monday, dropping below their December listing price after Saudi Arabia and Russia said they would raise oil production in a battle for market share, sending crude prices down by a third.
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Fed adopts new 'stress capital buffer' for large U.S. banks

Reuters Business News - Mon, 03/09/2020 - 08:39
The U.S. Federal Reserve unveiled new rules on Wednesday that create a "stress capital buffer" to determine how much banks must hold in reserve to guard against downturns.
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In next recession, Fed needs upfront promises, former staffers say

Reuters Business News - Mon, 03/09/2020 - 08:39
((This March 4 story has been corrected to fix the first name of David Reifschneider in second paragraph))
Categories: Reuters

Coronavirus shock and oil price fall pummel world stocks

Reuters Business News - Mon, 03/09/2020 - 08:31
Global stocks plunged on Monday and prices for crude oil tumbled as much as 33% after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen.
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IMF says governments should offer cash transfers, tax relief to ease coronavirus effects

Reuters Business News - Mon, 03/09/2020 - 08:28
Government policymakers will need to implement “substantial” targeted fiscal, monetary and financial market measures to combat the economic impact from the rapidly spreading coronavirus, International Monetary Fund chief economist Gita Gopinath said on Monday.
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Saudi Aramco shares dive, Gulf debt hit as oil price plunges

Reuters Business News - Mon, 03/09/2020 - 07:46
Saudi Aramco shares fell by as much as 10% on Monday, extending a dive below the initial public offering price, after Saudi Arabia cut its official selling prices for crude and global oil markets plunged in response to news of a big output increase.
Categories: Reuters

Futures trampled by oil shock, virus fears

Reuters Business News - Mon, 03/09/2020 - 07:25
U.S. stock index futures plunged 5% on Monday to hit a daily trading limit, as global recession fears were amplified by a 25% slump in oil prices and the relentless march of the coronavirus across the United States and Europe.
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Airlines suspend flights due to coronavirus outbreak

Reuters Business News - Mon, 03/09/2020 - 07:21
Airlines across the globe have suspended flights or modified services in response to the coronavirus outbreak.
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Oil prices plunge by a third as rivals Saudi and Russia turn on the taps

Reuters Business News - Mon, 03/09/2020 - 07:15
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
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Saudi investors feel the pain of Aramco free-fall

Reuters Business News - Mon, 03/09/2020 - 06:51
Saudi investors, who dipped into savings and took out loans to participate in Aramco's record share offering, have been shocked by the free-fall in the shares of the kingdom's crown jewel after an oil output pact between OPEC and its allies collapsed.
Categories: Reuters

Stock futures plummet on oil shock, virus fears

Reuters Business News - Mon, 03/09/2020 - 06:35
U.S. stock index futures plunged on Monday after Saudi Arabia launched an oil price war with Russia, sending crude tumbling 25% and intensifying fears about a global recession.
Categories: Reuters

Exclusive: Japan to boost special financing for coronavirus firms to $16 billion

Reuters Business News - Mon, 03/09/2020 - 06:13
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
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Tesco plans $6.6 billion shareholder return from Thai, Malaysia sale

Reuters Business News - Mon, 03/09/2020 - 06:08
Tesco plans to return $6.6 billion to shareholders after it agreed to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of a plan to refocus on Britain.
Categories: Reuters

Oil prices plunge by a third after Saudi Arabia launches output war

Reuters Business News - Mon, 03/09/2020 - 05:34
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War after Saudi Arabia signalled it would hike output to win market share when the coronavirus has already left the market oversupplied.
Categories: Reuters

Tesco to return $6.6 billion to shareholders after sale of Thai, Malaysia assets

Reuters Business News - Mon, 03/09/2020 - 04:36
Britain's Tesco plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of $10.6 billion.
Categories: Reuters

Dashboard of Japanese stocks with a stake in Olympics' success

Reuters Business News - Mon, 03/09/2020 - 04:25
Japanese stocks banking on the success of the Olympics this year are taking a hit as the rapid spread of coronavirus is threatening cancellation of the world's biggest sporting tournament.
Categories: Reuters

Exclusive: Japan to boost special financing for coronavirus-hit firms to $16 billion, document shows

Reuters Business News - Mon, 03/09/2020 - 04:23
Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.
Categories: Reuters

Saudi Aramco drops 10% after kingdom triggers oil price fall

Reuters Business News - Mon, 03/09/2020 - 04:17
Saudi Aramco shares fell 10% on Monday after Saudi Arabia slashed its official selling prices for crude and set out plans for a dramatic increase in oil production next month, prompting a sharp drop in prices.
Categories: Reuters
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