Boeing to halt Washington state production temporarily due to coronavirus risks
Boeing Co said on Monday it will halt production temporarily at its Washington state twin-aisle jetliner factory due to risks from coronavirus, confirming an earlier Reuters report.
Fed aims ‘bazooka’ to backstop coronavirus-hit economy
The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on people and businesses that scientists say are needed to limit the spread of the coronavirus.
Western supply chains buckle as coronavirus lockdowns spread
Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.
Fed boost fails to stem Wall Street rout
Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an aggressive policy easing by the Federal Reserve and putting the S&P 500 on pace for its worst month since World War Two.
Crude extends fall with U.S. gasoline down 20% as global shutdowns sap demand
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…
Fed aims ‘bazooka’ at coronavirus to backstop economy
The U.S. Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the “severe disruptions” to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small busi…
Airlines ground flights, count mounting costs of the coronavirus shock
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.
Skies clear as further coronavirus curbs ground more flights
Widening travel curbs to contain the spread of the coronavirus led to further flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
GE’s aviation unit to cut 10% of U.S. workforce: CEO
General Electric Co’s aviation unit will cut its U.S. workforce by about 10%, Chief Executive Officer Larry Culp said in a letter to staff on Monday, as a shattered airline industry sought state support to survive the coronavirus crisis.
Wall Street falls as Fed fails to assuage virus worries
Wall Street slipped on Monday as the still rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an unprecedented round of policy easing by the Federal Reserve.
