Tesla surges 28% in two days as traders look beyond coronavirus disruption
Shares of Tesla Inc surged 12% on Tuesday after Credit Suisse upgraded its rating on the electric carmaker and as Wall Street rallied on optimism the coronavirus outbreak was reaching a plateau.
Adidas gets 3 billion euro government backed loan, suspends dividend
German sports retailer Adidas on Tuesday said it received approval for a syndicated 3 billion-euro ($3.3 billion) government-backed loan to mitigate the financial impact on its business from the spread of the coronavirus.
Spirit expects quarterly loss as coronavirus hits plane output
Spirit AeroSystems Holdings Inc said on Tuesday it would swing to a first-quarter loss and warned of a bigger blow in the current quarter, as customers Boeing Co and Airbus SE whittle down production due to the coronavirus pandemic.
Oil producers pin hopes for massive cuts on unprecedented stockpile purchases
An unprecedented deal by oil producers to curb supply to match demand hollowed out by the coronavirus pandemic is set to depend partly on purchases by consumer countries for their strategic stockpiles on a scale not before seen.
NMC Health board replaced by administrators
The administrators of troubled hospital operator NMC Health said on Tuesday they had replaced the company’s board and asked its main lender, Abu Dhabi Commercial Bank (ADCB), to lead a steering group to discuss cutting its debt pile.
Spain denies requisitioning coronavirus tests bound for workers
Spain’s health minister denied on Tuesday that authorities had requisitioned 2,000 antibody tests which a workers union said Siemens Gamesa had expected to receive to check whether its staff have been infected with the coronavirus.
Global creditors agree debt relief for poor countries hit by pandemic
Major international creditors will suspend debt payments this year for the world’s poorest countries, who will be hit hardest by the rapidly spreading coronavirus pandemic that has sparked the steepest downturn in the global economy since the 1930s.
U.S. funds that beat market plunge seek recession-proof stocks
Beating the first quarter’s market crash took some extreme strategies, such as moving nearly everything to cash, or going very short. Now, fund managers who prevailed during the worst start to a year for U.S. stocks are betting on recession-resilient c…
Fauci: May 1 target for reopening U.S. economy ‘overly optimistic’ – AP
The top U.S. infectious disease expert, Anthony Fauci, said on Tuesday that a May 1 target date for reopening the economy was “a bit overly optimistic,” citing a lack of critical testing and tracing procedures.
Honda extends Mexico plant suspensions to April 30 due to coronavirus
The Mexican unit of Japanese automaker Honda Motor Co said on Tuesday it would extend a suspenion of operations at its plants in the states of Guanajuato and Jalisco until April 30 due to the impact of the novel coronavirus outbreak.
