Stocks rebound grinds past 10% after $2 trillion U.S. stimulus boost
A breakneck rebound in world stocks made it past the 10% mark on Wednesday before more global coronavirus warnings and fresh turbulence in commodity markets saw things grind to a halt.
U.S. SEC extends conditional relief for public companies hit by coronavirus
The U.S. Securities and Exchange Commission (SEC) said on Wednesday it would extend its prior conditional regulatory relief from disclosure requirements for public companies affected by the coronavirus outbreak.
IATA says air freight traffic fell around 10% in February
Figures to be published next week will show global air freight traffic fell around 10% in February, putting it on course for a 15-20% drop for the year as a whole, an official at the International Air Transport Association said on Wednesday.
Coronavirus exposes Uber, Lyft drivers’ lack of safety net
As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours.
India’s huge outsourcing industry struggles with work-from-home scenario
As the coronavirus pandemic pushes India into a lockdown, the call centres and IT services firms that function as the world’s back office are struggling to piece together work-from-home solutions and other business-continuity plans.
Johnson says UK doing everything it can to help aviation industry
The British government has not washed its hands of any sector and is doing everything it can to help the aviation industry through the coronavirus crisis, Prime Minister Boris Johnson said on Wednesday.
S&P 500 set to dip after bumper session as virus threat rages on
The S&P 500 was set to open lower on Wednesday after a strong rebound in the previous session as optimism about an imminent $2 trillion coronavirus package waned, with investors still concerned about the lasting economic hit from the pandemic.
Bullard: $2 trillion package working through Congress ‘scaled about right’ for crisis
The roughly $2 trillion emergency aid package being negotiated in Congress is “scaled about right” to match the hit to the economy needed to battle the coronavirus, St. Louis Federal Reserve president James Bullard said on Wednesday in a CNBC interview…
Oil majors slash 2020 spending 18% after prices slump
The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.
A falling yen may not be the economic cure Japan seeks
Fallout from the coronavirus outbreak may finally lift the curse of the safe-haven yen for Japan but policymakers fear fiscal laxity could lead to a currency free-fall eventually, undermining efforts to cushion the economy from the pandemic.
