Unions urge Airbus to extend output freeze due to virus fears
French unions are urging Airbus to keep its French factories closed beyond March 23, when it plans to resume production after a four-day shutdown, raising questions over the knock-on impact on plants elsewhere in Europe.
Governments offer aid as airlines forced to deepen cuts to flights, staffing
Australia and Taiwan joined governments offering financial aid to airlines as coronavirus and stricter travel controls forced carriers to deepen cuts to capacity and staffing.
U.S. crude prices fall to 17-year low as coronavirus spreads
Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as the outlook for fuel demand darkened with travel and social lockdowns triggered by the coronavirus epidemic.
Barclays says it is ‘very unlikely’ to meet profit goal amid virus outbreak
Barclays is ‘very very unlikely’ to meet its goal of a 10% return on equity this year given the impact on its business of the coronavirus pandemic, its Chief Financial Officer Tushar Morzaria said on Tuesday.
Oil falls for third day as coronavirus travel bans escalate
Oil prices fell for a third session on Wednesday to be down about 17% so far this week as the outlook for fuel demand darkened amid travel and social lockdowns triggered by the coronavirus epidemic.
Global stocks tumble as investors flee risk on coronavirus fears
Global stock futures and Asian shares tumbled in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout from the outbreak.
Coronavirus empties airlines’ cash drawers, knocks $157 billion off share values
Global airlines are fast running out of cash after cutting capacity by 90% or even grounding entire fleets due to the broad travel restrictions to contain the spread of the coronavirus, calling into question the survival of several firms.
SoftBank Group’s market cap dips below domestic telco as scepticism grows
SoftBank Group Corp shares fell as much as 11.6% on Wednesday, with its market capitalization dipping below the value of its domestic telco, as uncertainty grows over its management of a portfolio of unproven startups.
Tesla plant can’t run normally in coronavirus shutdown: California county
Tesla Inc cannot continue to operate its main U.S. vehicle plant normally as its San Francisco Bay Area home began a three-week lockdown on Tuesday to slow the spread of coronavirus, a county sheriff’s office spokesman said.
Global stocks drop as investors shun risk on coronavirus fears
U.S. stock futures and several Asian shares fell in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout of the outbreak.
