UK banks scrap dividends on coronavirus fears, pressure on bonuses
Britain’s top banks have axed dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus.
Trump signs off on deferring tariffs for most-favored nations for three months
President Donald Trump has signed off on a plan to defer U.S. tariffs for most-favored nations for three months, according to a source familiar with the decision.
Senators urge U.S. airlines to issue ticket refunds after bailout
Nine Democratic U.S. senators on Tuesday urged the chief executives of 11 major airlines to issue full cash refunds to customers canceling flights during the coronavirus pandemic after Congress approved a massive rescue package for the hard-hit industr…
Xerox abandons $35 billion hostile bid for HP: sources
Xerox Holdings Corp decided on Tuesday to abandon its $35 billion hostile cash-and-stock bid for HP Inc after the coronavirus outbreak put the brakes on its takeover campaign, according to people familiar with the matter.
Stocks fall, close out biggest quarterly drop since 2008
Global stock markets fell in volatile trading on Tuesday, and the economic damage from the coronavirus pandemic left the MSCI benchmark of world equities with its biggest quarterly decline since the financial crisis of 2008.
U.S. dollar weakens as Fed measure weighs
The dollar fell against a basket of major currencies on Tuesday modestly pressured by the weight of Federal Reserve measures meant to ensure there was enough liquidity in the global financial system.
UniCredit says top managers to forego entire 2020 bonus pay
Italy’s biggest bank by assets, UniCredit SpA , said on Tuesday its top managers had decided to waive their entire 2020 bonus pay and that the bank would donate an equivalent amount to the UniCredit Foundation to support social initiatives.
Fiat Chrysler does not see delay in PSA merger, FIOM union says
Fiat Chrysler did not mention any possible delay in the merger process with France’s PSA during a call with unions on Tuesday, metal workers’ union FIOM said.
Oil ends March with biggest monthly and quarterly losses ever
Crude oil benchmarks ended a volatile quarter with their biggest losses in history, as both U.S. and Brent futures were hammered throughout March on the global economic freeze due to the coronavirus pandemic and the eruption of a price war between Russ…
Architect of Trump tax cut may run $500 billion coronavirus loan program
U.S. Deputy Treasury Secretary Justin Muzinich, an architect of the sweeping 2017 Republican tax cut, is under consideration to oversee a newly created $500 billion coronavirus rescue loan program for large companies, cities and states, two sources fam…
