Exclusive: American Airlines in talks to hire Millstein for aid advice – sources
American Airlines Group Inc is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, p…
Oil plunges to 2002 lows, shares sink again
Oil took another stomach-churning 8% dive on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months.
EasyJet grounds entire fleet as coronavirus pushes airlines to brink
British low cost airline easyJet said it had grounded its entire fleet of over 330 aircraft and had no visibility on when it could restart flights, highlighting the heavy strain on airlines trying to survive to fly again after coronavirus.
China’s big banks flag asset pressure due to virus, boding ill for smaller kin
China’s largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely big enough to weather any fallout.
Ted Baker names finance chief Rachel Osborne as CEO
Troubled fashion retailer Ted Baker on Monday named Chief Financial Officer Rachel Osborne to the permanent role of chief executive officer, replacing Lindsay Page who stepped down last year.
China unexpectedly cuts reverse repo rate by most in five years to support virus-hit economy
China’s central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities ramped up steps to relieve pressure on an economy ravaged by the coronavirus pandemic.
U.S. stimulus package is biggest ever, but may not be big enough
The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and oth…
Asia shares suffer virus chills, central banks offer cold comfort
Asian shares slipped on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts.
Major airlines urge U.S. Treasury to disburse assistance quickly
Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended a formula to divide up the money.
Trump’s attack on GM over ventilators quickly turns to praise
President Donald Trump, who excoriated General Motors Co on Friday and invoked emergency powers to compel the production of badly needed ventilators to tackle the coronavirus pandemic, has abruptly shifted gears to praise the automaker.
