Fed moves to backstop funding for U.S. companies as coronavirus fallout spreads
The U.S. Federal Reserve moved Tuesday to ensure the flow of credit to U.S. companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the coronavirus crisis.
U.S. Treasury approves revival of Fed primary dealer backstop
U.S. Treasury Secretary Steven Mnuchin on Tuesday said he approved the creation of a new primary dealer credit facility to ease credit market disruptions caused by the coronavirus epidemic, resurrecting the second 2008 financial crisis-era backstop in …
Peru miners halt operations to slow coronavirus spread; Chile braces for impact
Miners shuttered or wound down operations in Peru on Tuesday and were girding for extended supply chain disruptions in neighboring Chile as governments tightened restrictions to try to slow the spread of the coronavirus in the resource-rich region.
Democrats agree on ‘big immediate action’ to back U.S. airline industry
U.S. House Speaker Nancy Pelosi told the CEOs of U.S. airlines on Tuesday that Democrats agree on the need for “big immediate action” to boost the sagging U.S. aviation industry but have not reached agreement on what a bailout would look like.
Fed officials flag possible further steps in Fed crisis response
Federal Reserve officials are deliberating over next steps in their response to the fallout from the coronavirus epidemic, with some urging a broad debate about how the central bank might help small and medium-sized businesses, policymakers said on Tue…
Wall Street jumps after Monday’s historic sell-off as Fed boosts liquidity to fight coronavirus effect
The S&P 500 rose 6% on Tuesday, clawing back a significant portion of Monday’s steep losses, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
Fed extends loan offer to primary dealers in further credit easing
The U.S. Federal Reserve moved again late on Tuesday to broaden the flow of credit in response to the coronavirus epidemic, saying it would offer short-term loans to the two dozen Wall Street primary dealers who are important conduits for the sale of a…
Virgin Australia to suspend all international flying as coronavirus sinks demand
Virgin Australia Holdings Ltd said on Wednesday it would suspend all international flying from March 30 to June 14 and cut its domestic capacity in half because of government travel restrictions and lower demand because of the coronavirus.
Latam carriers see ‘bankruptcy pandemic’ risk, Chile opposes bailout
Latin American airlines need prompt government aid or many of them could go out of business as the global coronavirus outbreak forces widespread flight cancellations, the chief of regional airline association ALTA said on Tuesday.
Factbox: Stock exchanges revise trading rules, circuit breakers as volatility surges
As the coronavirus outbreak and global growth worries cause global stock markets to sink, stock exchanges are tweaking trading rules to protect their markets from intense volatility and speculative trading.
