U.S. economy faces historic shock, with 16% joblessness possible, Trump adviser says
The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House e…
Oil falls as crude in U.S. storage nears all-time high
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.
Investors bet on testing, treatments for restart of U.S. economy
Investors are pinning their hopes for the reopening of the U.S. economy on the potential for wider availability of testing for COVID-19 cases and on drug trials for treatments of the deadly disease but said, until there is concrete progress in these ar…
Amazon tests screening new merchants for fraud via video calls in pandemic
Amazon.com Inc is piloting the use of video conference calls to verify the identity of merchants who wish to sell goods on its websites, in a new plan to counter fraud without in-person meetings in the pandemic, the company said on Sunday.
Asia shares edge ahead, eyes on BOJ easing
Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps.
Airbus warns staff on jobs with its ‘survival at stake’
European planemaker Airbus gave its starkest assessment yet of damage from the coronavirus crisis, telling the company’s 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.
Oil futures open lower in electronic trading
U.S. oil futures dipped in electronic trading Sunday evening, extending losses from last week that marked the eighth week of losses out of the last nine.
Airbus survival at stake without immediate action: CEO memo
Airbus Chief Executive Guillaume Faury has told the European planemaker’s 135,000 staff to brace for potentially deeper job cuts after warning its survival is at stake without immediate action to save cash amid the coronavirus crisis.
U.S. will cap how much each bank can lend under emergency coronavirus program: memo
The U.S. government notified lenders on Sunday that it will cap how much each bank can lend under the emergency loan program designed to keep workers on payrolls amid the coronavirus pandemic, hours ahead of the reopening of the lending program.
After betting its future on Boeing, jetmaker Embraer scrambles for elusive plan B
Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a $4.2 billion commercial aerospace tie-up amid the coronavirus crisis.
