Car maker PSA wants to restart two French plants, unions disagree
French car maker PSA, which makes the Peugeot and Citroen brands, said on Friday it had presented health measures to its unions with a view to gradually restarting its European plants, which have been closed for fear of coronavirus infection.
From quills to qwerty: Lloyd’s underwriters adapt to home working
Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them.
European stocks sink as investors take stock of spreading virus
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.
Britain’s Next shuts online operation to protect workers
Leading British fashion chain Next has bowed to pressure from workers worried about their health and shut its online business, cutting off its remaining source of revenue during the coronavirus outbreak.
Fed’s term repo operation receives no bids for first time
The Federal Reserve’s term repurchase agreement (repo) operation on Friday morning received no bids out of a possible $500 billion for the first time since regular operations began last year.
Fed working to bolster credit during ‘self-mandated’ recession: Kaplan
A raft of programs from the U.S. central bank and a $2 trillion rescue bill nearing approval in Congress are aimed at providing relief during a “self-mandated” recession “so that when the virus is defeated we can walk, we can run, and then we can sprin…
Wall Street drops after three-day surge as virus threat intensifies
Wall Street fell more than 3% on Friday, following the S&P 500 and the Dow’s best three-day run in nearly a century, as fears about the economic damage from the coronavirus pandemic returned to the forefront.
Lockheed Martin speeds up payments to suppliers amid coronavirus slowdown
Defense contractor Lockheed Martin Corp said on Friday that it would advance more than $50 million to suppliers hurt by a sharp economic slowdown caused by efforts to stop the coronavirus.
U.S. consumer spending, inflation moderate in February
U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.
Indian lockdown disrupts Amazon, Flipkart deliveries: sources
India’s coronavirus lockdown is disrupting e-commerce companies including Amazon and Flipkart, despite government assurances it would not, four sources familiar with the matter told Reuters.
