UK launches coronavirus lending scheme for business
The Bank of England and Britain’s finance ministry launched a scheme on Tuesday to purchase debt known as commercial paper issued by companies hit by the coronavirus.
Explainer – How your bank deposits are (and aren’t) protected
In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system.
H&M closes all stores in biggest markets Germany and the United States
H&M is temporarily closing all its 460 stores in Germany, its number one market for sales, and all 590 in its second largest market the United States, due to the coronavirus outbreak.
Brazil airline Gol to suspend all international flights March 23-June 30
Brazilian airline Gol said in a statement on Tuesday that it is suspending all international flights from March 23 to June 30.
UAW seeks U.S. auto plant shutdown as COVID-19 crisis deepens
The head of the United Auto Workers on Tuesday turned up pressure on Detroit automakers to shutter U.S. factories for two weeks due to the fast-moving coronavirus, and warned that the union could take strong unilateral action if the companies fail to a…
Adidas joins Nike in announcing store closures over coronavirus
German sportswear maker Adidas on Tuesday joined rivals in announcing store closures in response to the coronavirus pandemic.
HSBC appoints Noel Quinn as CEO
HSBC said on Tuesday it has appointed Noel Quinn as its chief executive officer, effective immediately.
Explainer: How your bank deposits are (and aren’t) protected
In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system.
Fed’s short-term funding CP plan boosts stocks, dollar
A gauge of global equity markets and gold rose on Tuesday after the U.S. Federal Reserve said it would buy short-term corporate debt directly from companies to help relieve credit markets under strain by the impact of coronavirus epidemic.
Tiffany to temporarily close several stores, cuts hours at others
Luxury jeweler Tiffany & Co said on Tuesday it would temporarily close several stores, including its Fifth Avenue flagship store in New York, and reduce working hours at other outlets, in an effort to contain the spread of coronavirus.
