Ford to suspend production in India, South Africa due to coronavirus
Ford Motor Co said on Monday it will temporarily shut down vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus.
Coronavirus fears spark surge in a volatility index
A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market’s wild swings subside.
Fiat Chrysler CEO says group to produce face masks in Asia: union representative
Fiat Chrysler Chief Executive Mike Manley told employees that the carmaker would help with the production of masks during the coronavirus emergency, a union representative said on Monday.
Virus hit UK companies told to delay financial statements
Companies should not publish preliminary financial statements for at least two weeks to better assess how the coronavirus epidemic is affecting their business, Britain’s Financial Conduct Authority said on Saturday.
Factbox: UK companies delay results after regulators relax reporting rules
British companies on Monday rushed to heed unprecedented calls by regulators to mothball their results so they can better assess how the coronavirus pandemic is affecting their business.
Airbus adds 15 billion euro credit line, scraps dividend
Airbus boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet.
Nestle CEO tells staff to get ready for coronavirus storm: memo
Food giant Nestle told employees to prepare for difficult times ahead and make all the necessary efforts to supply customers with the food and beverages they need, Chief Executive Mark Schneider said in a memorandum seen by Reuters.
Factbox: Global oil, gas producers cut spending after crude price crash
Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R]
SoftBank plans $41 billion of asset sales to expand buyback and cut debt
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.
Factbox: SoftBank’s key assets
SoftBank Group Corp plans to raise up to 4.5 trillion yen ($41 billion) by selling or monetizing assets to buy back 2 trillion yen of its shares and reduce debt, it said on Monday.
