Feed aggregator

A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.

As news broke of more cases of coronavirus spreading across the United States, T-Mobile had a novel response to the threat: fewer hugs, kisses or high-fives.

Bank of England Governor Mark Carney said policymakers around the world were working on a "powerful and timely" response to the economic hit from coronavirus which has raised fears of a new global recession.

The Kremlin told reporters on Tuesday it would not say whether Moscow was ready to make additional oil output cuts as part of the cooperation between OPEC and non-OPEC countries and said it was necessary to wait for their meeting later this week.

European airlines warned on Tuesday the worst is still to come in economic damage to the industry from the rapid spread of coronavirus Covid-19.

The European Central Bank is preparing possible measures to provide liquidity to businesses hit by the economic fallout of the coronavirus outbreak, three sources familiar with the discussion told Reuters.

OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus.

Swiss chocolate maker Lindt & Spruengli on Tuesday proposed a sweeter payout to shareholders, increasing its dividend by 75% to mark its 175th anniversary.

Swiss Re plans to make UBS Group Chief Executive Sergio Ermotti its chairman from next year, the world's second-biggest reinsurer said on Tuesday, turning to a financial industry veteran with scant insurance experience.

Oil prices extended gains on Tuesday on expectations that central banks are likely to enact financial stimulus to offset the impacts of the coronavirus outbreak and growing optimism that OPEC will order deeper output cuts this week.

French carmaker PSA has managed for ensure that its European facilities have enough supplies to keep running for now during the coronavirus outbreak, chief executive officer Carlos Tavares said on Tuesday.

This month's wheelchair rugby test event has been canceled due to the coronavirus outbreak, Tokyo 2020 organizers said on Tuesday.

Toyota Motor Corp named Kenta Kon as its next chief financial officer on Tuesday and said it would scrap executive vice president (EVP) roles as part of a drive to streamline the company's structure, improve production systems and cut costs.

Global stocks and commodity markets extended a tentative recovery from their coronavirus slump on Tuesday, as global policymakers signaled a united front to address the economic fallout from the spreading outbreak.

The Japan Para Sports Association and Tokyo 2020 Olympic and Paralympic organizers moved to cancel this month's wheelchair rugby test event on Tuesday due to the coronavirus outbreak.

Amazon.com Inc has quietly opened a series of small warehouses closer to big U.S. cities in a move to shave hours off delivery times, the company told Reuters.

Toyota Motor Corp said on Tuesday Kenta Kon will become its chief financial officer and the roles of some executives will be consolidated, as the Japanese automaker attempts to improve its production systems and cut costs further.

Apple supplier Foxconn said it would resume normal production in China by the end of the month and that more than half its seasonal workforce in the country had restarted work following the coronavirus outbreak.

Global stocks and oil prices extended gains on Tuesday as policymakers indicated their willingness to help ease the economic fallout from the coronavirus, while worries about the outcome of a call by Group of Seven heads kept a lid on gains.

Switzerland's Lindt & Spruengli proposed a sweeter payout to shareholders on Tuesday with a proposal to increase its divided by 75% to mark its 175th anniversary, the chocolate maker said on Tuesday.