Futures fall after bumper session as virus threat rages on
U.S. stock index futures fell on Wednesday after a strong rebound in the previous session, as an imminent $2 trillion rescue package failed to completely allay investor concerns over the economic threat from the coronavirus pandemic.
Exclusive: ECB’s Lagarde asked euro zone ministers to consider one-off ‘coronabonds’ issue – officials
European Central Bank chief Christine Lagarde asked euro zone finance ministers during a videoconference on Tuesday evening to seriously consider a one-off joint debt issue of “coronabonds” to help fight the coronavirus pandemic, four officials said.
Exclusive: India likely to unveil $20 billion-plus stimulus package to tackle coronavirus downturn – sources
India is likely to agree an economic stimulus package of more than 1.5 trillion rupees ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters…
Layoffs and food lines: How the pandemic slams the poorest U.S. workers
Alberto Mendoza figures he can make it a couple of weeks on unemployment benefits before starting to decide which bills won’t get paid. The 26-year-old father of three lost his job training cooks when all the local restaurants started closing their doo…
Oil prices fall as demand woes eclipse U.S. stimulus
Oil prices fell on Wednesday as faltering fuel demand because of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package.
Britain continuing talks over support for airlines: pilots union
Britain is continuing talks with the aviation industry about how best to support the sector and reports that the government will not provide financial backing for airlines are misleading, the British Airline Pilots Association (BALPA) said on Wednesday…
U.S. companies, labs rush to produce blood test for coronavirus immunity
As the United States works overtime to screen thousands for the novel coronavirus, a new blood test offers the chance to find out who may have immunity – a potential game changer in the battle to contain infections and get the economy back on track.
Target withdraws forecasts, curbs spending to meet virus-related demand
Target Corp on Wednesday withdrew its financial outlook and said it would scale back on planned investments to focus on meeting surging demand as Americans stock up on essentials and stay home to slow the spread of the coronavirus outbreak.
UK’s Sainsbury’s to assist smaller suppliers during coronavirus pandemic
British supermarket Sainsbury’s said on Wednesday it would help its smaller suppliers during the coronavirus emergency by paying them immediately and making finance available.
Thyssenkrupp to cut 3,000 jobs at struggling steel unit
German conglomerate Thyssenkrupp will cut 3,000 jobs and invest 4.2 billion euros ($4.6 billion) at its struggling steel division by 2026 as part of a wage deal struck with powerful labor union IG Metall, it said on Wednesday.
