U.S. consumer sentiment near three-and-a-half year low, spending sluggish
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists’ expectations of a deep recession.
ECB tells euro zone banks to skip payouts as virus hits economy
The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic.
Global oil refiners shut down as coronavirus destroys demand
The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.
Saudi Arabia says no talks on new oil deal, Moscow suggests larger OPEC+
Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.
Wall Street falls as U.S. virus cases pass 85,000
Wall Street fell on Friday, ending a massive three-day surge as doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed.
More than 100 British companies halt dividend payments due to coronavirus pandemic
More than 100 British companies have postponed or ditched dividend payments in a bid to preserve cash for what could be a lengthy enforced shutdown of large parts of the UK and global economy due to the coronavirus pandemic.
Trump drags GM, Ford into political war over ventilators to fight coronavirus
General Motors Co and Ford Motor Co got dragged into the political war over much-needed ventilators for coronavirus patients Friday as U.S. President Donald Trump lashed out at the automakers for moving too slowly just hours before GM said it would bui…
Factbox: Carmakers churn out machines, masks to help fight coronavirus
Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated ventilator systems – to meet a critical shortage of those items at hospitals and ca…
Treasury: U.S. will be ‘compensated’ for assistance to airlines
U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will “compensated” for providing up to $25 billion in direct grants to the airline industry.
Delta CEO says gov’t aid ensures no industry lay-offs through September 30
Delta Air Lines Chief Executive Ed Bastian said payroll assistance funds from the government under a massive stimulus package approved on Friday ensure there will not be any involuntary furloughs or pay cuts in the U.S. airline industry through Sept. 3…
