Lufthansa to discuss permanently grounding Germanwings: sources
Lufthansa will discuss permanently grounding its Germanwings low-cost airline unit at a management board meeting on Tuesday, two sources familiar with the matter told Reuters.
Wall Street soars on hopes of slowing coronavirus deaths
U.S. stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country’s biggest coronavirus hot spot, fueled optimism a leveling off of the pandemic was on the horizon….
Hit by coronavirus, Fiat Chrysler, Peugeot seek to boost cash before merger consummation
With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot’s owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger.
Allstate to return $600 million in auto premiums as pandemic cuts driving
U.S. insurer Allstate Corp said on Monday it would return more than $600 million in auto insurance premiums to customers as many Americans drive less due to “shelter-in-place” orders to curb the coronavirus outbreak.
Stocks jump as virus deaths slow; oil falls after OPEC+ delay
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some global hot spots, oil prices tumbled again due to a delay in talks between Saudi Arabia and Russia to cut supply.
Honda, Fiat Chrysler cancel all April U.S., Canadian auto production
Honda Motor Co and Fiat Chrysler Automobiles NV said on Monday they will extend their auto production shutdown in the United States and Canada to all of April.
New York, New Jersey see early signs of coronavirus ‘flattening’
The governors of New York and New Jersey said on Monday their states were showing tentative signs of a “flattening” of the coronavirus outbreak, but they warned against complacency as the nationwide death toll topped 10,000 and the number of cases reac…
Coronavirus muddies U.S. economic data as business closures push down response rates
A near total closure of U.S. businesses as authorities try to control the spread of the novel coronavirus could make U.S. economic data unreliable in the coming months and harder to get a clearer picture of the severity of the recession caused by the v…
NYSE in talks with SEC to ease listing rules during coronavirus volatility
The New York Stock Exchange said on Monday it was in talks with regulators to temporarily ease its listing requirements to take the strain off companies that may have fallen out of compliance due to the market rout spurred by the coronavirus.
Fed says it will provide financing against new U.S. ‘payroll protection’ loans
The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the U.S. central bank for cash, easing concerns among banks about getting stuck holding the low interest loans.
