Rout resumes as more nations self-isolate against virus
Financial markets around the world took another hammering on Monday as a rising tide of national coronavirus lockdowns threatened to overwhelm policymakers’ frantic efforts to cushion what is likely to be a deep global recession.
Skies clear as more flights grounded by growing coronavirus curbs
Widening curbs on travel to contain the spread of the coronavirus led airlines to ramp up flight cancellations on Monday, with new restrictions spanning Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
Shell cuts 2020 spending by $5 billion, suspends share buyback
Royal Dutch Shell will lower spending by $5 billion and suspended its vast $25 billion share buyback plan in an effort to weather the recent collapse in oil prices, it said on Monday.
Home work triggers demand jump for chips, laptops and network goods
With more employees working from home to help slow the spread of the coronavirus, demand is surging for laptops and network peripherals as well as components along the supply chain such as chips, as companies rush to build virtual offices.
Apple scraps curbs on online buyers of iPhones amid virus outbreak
Apple has dropped a two-device limit on online purchases of iPhones, a check of its web stores showed on Monday, just days after changing the checkout procedure amid a coronavirus pandemic.
Shell lowers 2020 capex, suspends share buyback
Oil major Shell lowered capital expenditure for 2020 by about $5 billion on Monday and suspended the next tranche of its share buyback plan, as the company tries to weather a hit from the recent oil price crash.
Goldman Sachs sees 1% drop in global GDP due to ‘coronacrisis’
Goldman Sachs said it expected global real gross domestic product to contract by about 1% in 2020, a sharper economic decline than in the year following the 2008 global financial crisis.
SoftBank to raise $41 billion to expand share buyback, cut debt
SoftBank Group Corp said on Monday it is selling or monetizing up to 4.5 trillion yen ($41 billion) in assets to buy back 2 trillion yen of its shares and reduce debt, sending its stock soaring to its biggest daily gain in nearly 12 years.
Central banks deploy record sums to break financial logjam, but may need more
Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up, as investors worried about the economic damage from the coronavirus and made a chaotic dash for the exits.
Brent crude extends fall as coronavirus shutdowns sap demand
Brent crude prices extended falls on Monday with demand sliding as travel and industrial activity contracted across the globe in a bid to stem the spread of coronavirus.
