Fed’s George says standing by to lend in ‘this extraordinary time’
Kansas City Federal Reserve President Esther George said on Tuesday that the regional Fed bank continues to carry on with its key functions, and is ready to extend credit when needed through the U.S. central bank’s emergency lending window.
Fed’s short-term corporate funding plan boosts stocks, gold, dollar
Gold, the dollar and global equity markets rose on Tuesday after the Federal Reserve said it would buy short-term corporate debt directly from companies to help relieve credit markets under strain from the economic impact of the coronavirus epidemic.
Target reduces store hours to restock, clean amid virus outbreak
Target Corp said on Tuesday it would reduce store hours for cleaning and restocking, as more consumers shop at its outlets for essentials amid the coronavirus outbreak.
Exclusive: Boeing seeking ‘tens of billions’ in U.S. government loan guarantees – sources
Boeing Co is seeking “tens of billions of dollars” in U.S. government loan guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed …
Fed’s Bostic flags possible further steps in Fed crisis response
The U.S. Federal Reserve is continuing to debate its next steps to expand support for the economy during the ongoing coronavirus epidemic, with broadened rules for bank lending a possibility Atlanta Federal Reserve bank president Raphael Bostic said on…
Fed’s Harker says central bank works to keep markets liquid amid coronavirus ‘black swan’ shock
Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday the global economy is reeling from the shock caused by the coronavirus, and that central bankers need to do what they can to stimulate the economy and keep markets functioning.
Wall Street bounces after Monday’s selloff as Fed boosts liquidity
The S&P 500 rose 6% on Tuesday, a day after its steepest decline since the 1987 crash, as the Federal Reserve took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
Investors give thumbs down to potential shortened stock session
U.S. Treasury Secretary Steven Mnuchin’s suggestion on Tuesday that the country’s stock exchanges might shorten their trading hours did not go over well with investors reeling from Wall Street’s worst day in three decades and growing fears about the co…
Macy’s, Hudson’s Bay to temporarily close U.S. stores due to virus outbreak
Department store operators Macy’s Inc and Hudson’s Bay decided on Tuesday to temporarily close all its stores in the United States due to the coronavirus pandemic, but said their e-commerce sites would continue to operate.
Norwegian Air asks for similar help to regional rival SAS
Struggling Norwegian Air needs government support similar to that which SAS received from the Danish and Swedish governments if it is to protect jobs in Norway as demand is strangled by the coronavirus outbreak.
