EU regulators ask companies to delay merger filings over coronavirus disruption
European Union regulators have asked companies seeking to complete their desired mergers to delay submitting antitrust filings due to the coronavirus outbreak.
U.S. airlines seek $50 billion coronavirus bailout to avoid collapse
Major U.S. airlines sought a government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand sparked by the coronavirus pandemic.
Qantas to slash 90% of international capacity as new virus restrictions bite
Qantas Airways Ltd said on Tuesday it would cut its international capacity by around 90% until at least the end of May as travel demand to Australia plunges because of new restrictions on arrivals related to the coronavirus.
PG&E wins approval of $23 billion bankruptcy financing package – Bloomberg News
Power producer PG&E Corp won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition, Bloomberg News reported https://www.bloomberg.com/news/articles/2020-03-16/pg-e-wins-approval-of-23-billion-bankruptcy-financing-package on Monday.
Q&A: Government coronavirus directives shield employers from bias, safety claims: MoFo partners
The coronavirus pandemic is forcing employers to make tough decisions that could lead to legal liability, but most companies should be in the clear if they follow the advice of government authorities, according to Morrison & Foerster partners Janie Schulman and Christine Lyon.
Exclusive: Shale gas pioneer Chesapeake Energy taps restructuring advisers – sources
Chesapeake Energy Corp, the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday.
U.S. gasoline refining profits slump to 2008 levels amid coronavirus fears
U.S. gasoline refining margins fell a whopping 95% on Monday – even briefly turning negative – with the cost of gasoline plunging faster than crude oil in anticipation that the coronavirus will keep people off the road and in their homes.
Markets crater as coronavirus fears overwhelm central bank emergency measures
Markets reeled on Monday, with stocks on Wall Street and the price of Brent crude tumbling more than 10%, as the Federal Reserve’s second emergency rate cut in as many weeks failed to calm fears of a coronavirus-induced recession.
Wall Street deepens historic slump as virus response comes up short
Wall Street suffered its biggest drop since 1987 on Monday, with the S&P 500 closing at its lowest level since December 2018, as investors fear the coronavirus pandemic is proving a tougher opponent than central banks, lawmakers or the White House are currently capable of battling.
Make us ventilators to fight coronavirus, UK asks Ford and Rolls Royce
Britain has asked manufacturers including Ford , Honda and Rolls Royce to help make health equipment including ventilators to cope with the coronavirus outbreak and will look at using hotels as hospitals.
