Crude extends fall as U.S. gasoline slumps 20% amid demand fears
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem t…
U.S. trade regulators approve tariff exemption for Apple Watches
U.S. trade regulators have approved Apple Inc’s request to waive tariffs on China-made Apple Watches, the Office of the United States Trade Representative said in a letter dated Friday.
IMF sees pandemic causing global recession in 2020, recovery in 2021
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.
Historic Fed boost fails to stem Wall Street’s virus driven selloff
Wall Street’s slide deepened further on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy.
Market panic lingers despite unprecedented Fed support
Global equities slid further and safe-haven assets rose on Monday after a massive array of new programs from the U.S. Federal Reserve underscored the “severe” disruptions the coronavirus pandemic poses to a fast-weakening world economy.
Coronavirus grounds more flights, takes toll on jobs
Widening travel curbs to contain the spread of the coronavirus prompted more flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
GM eyes building ventilators at Indiana plant to fight coronavirus
General Motors Co said on Monday it is studying the feasibility of building ventilators under its partnership with Ventec Life Systems at the No. 1 U.S. automaker’s Kokomo, Indiana, plant to help combat the coronavirus outbreak.
Alitalia to relaunch with much smaller fleet: sources
The Italian government plans to take control of loss-making carrier Alitalia [CAITLA.UL] in a month or so, creating a new company that will start off with a much smaller fleet, union sources said on Monday.
North American millers, bakers scramble to satisfy bread-buying binge
North American flour mills and bakeries are rushing to boost production as the spread of the new coronavirus leads to stockpiling of staples like bread and pasta.
Citigroup to give some employees $1000 as coronavirus spreads
Citigroup Inc will provide more than 75,000 employees globally with a special compensation award to help ease the financial burden of the coronavirus pandemic, Chief Executive Michael Corbat told staff in a memo seen by Reuters.
