Bank of England ready to replenish its COVID-19 warchest
The Bank of England looks set to give itself at least another 100 billion pounds ($127 billion) in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain’s economy.
Finnair seeks 500 million euros from shareholders to cope with crisis
Finnair launched a share sale on Wednesday to raise 500 million euros ($568 million) from its existing investors, almost as much as its current market value as it seeks to strengthen its finances to cope with the coronavirus crisis.
Oil falls towards $40 as U.S. inventory rise revives glut worries
Oil fell more than 2% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis.
Fed easing speculation keeps dollar under pressure
The euro held below a three-month high against the dollar amid speculation the U.S. Federal Reserve might announce more steps to check a recent rise in bond yields later on Wednesday.
OECD sees deepest peace-time slump in a century
The global economy will suffer the biggest peace-time downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday.
Germany should make provisions to ensure banks have sufficient capital: OECD
Germany should make provisions to ensure banks have sufficient capital in case of a wave of bankruptcies in Europe’s largest economy caused by the coronavirus crisis, a senior OECD economist said on Wednesday.
Credit Suisse CEO sees business ‘going in right direction’
Business conditions are improving after a tough start to the year, Credit Suisse Chief Executive Thomas Gottstein said in a presentation released on Wednesday.
World stocks hold fire ahead of Fed, dollar stumbles
World stock markets hovered below three-month highs on Wednesday, while the dollar stumbled ahead of a meeting of the U.S. Federal Reserve.
Emirates airline redundancies continue for second day, sources say
Emirates laid off more pilots and cabin crew on Wednesday in a second day of redundancies at one of the world’s biggest long-haul airlines, three company sources said.
NATO chief says on Huawei: UK review of 5G security is important
The head of the NATO military alliance said on Wednesday that the West could not ignore the rise of China and so it was important that Britain had a review of the role of Huawei in its 5G network to ensure its security.
