Global stocks turn negative as virus death toll mounts
World stocks turned negative on Wednesday as the coronavirus death toll mounted and euro zone finance minister failed to agree a rescue package to help economies recover from the impact of the outbreak.
Dollar gains on rising coronavirus crisis concerns
The dollar firmed on Wednesday as optimism that the coronavirus crisis was slowing waned, increasing investor concerns over the economic impact of the pandemic.
BAE Systems to raise $1.3 billion in debt to fund pension deficit
Britain’s BAE Systems is looking to raise $1.3 billion in debt to fund its pension deficit and repay related loans, the company said on Wednesday, as it prepares to deal with the fallout of the coronavirus outbreak.
Figure of $6.5 billion in loans for Air France KLM ‘not unrealistic’: minister
A figure of 6 billion euros ($6.5 billion) in loans to help Air France KLM amid the coronavirus crisis is “not unrealistic”, French junior transport minister Jean-Baptiste Djebbari said on Wednesday.
French carmaker PSA sets up fund for staff and new health check measures
French carmaker and Peugeot owner PSA announced on Wednesday the creation of a solidarity fund to help staff affected by the closures of plants due to the COVID-19 outbreak, and new steps to protect the health of its workers.
BAE Systems plans to raise $1.3 billion in bonds due 2030
Britain’s BAE Systems is seeking to raise $1.3 billion in bonds to fund its employee benefit plans and repay debt, the company said on Wednesday, as it braced any blow from the coronavirus outbreak.
Oil rises as markets eye OPEC, Russia meeting on output cuts
Oil rebounded on Wednesday after a two-day fall, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.
Britain’s Tesco says coronavirus costs could reach $1.1 billion
Britain’s biggest retailer Tesco expects to take a hit of up to 925 million pounds ($1.1 billion) from the costs of dealing with the coronavirus pandemic and warned it was unable to give a profit forecast for this financial year.
UK fashion retailer ASOS raises 247 million pounds in placing
British online fashion retailer ASOS Plc said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic.
Dollar firms as virus worries return
The dollar found a footing on Wednesday as investors returned to safe-havens, reversing some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
