Powell’s whatever-it-takes pledge puts limits of Fed’s reach in spotlight
Federal Reserve Chair Jerome Powell’s message in announcing a barrage of monetary policy and liquidity actions was clear: The U.S. central bank will use all the tools at its disposal to keep credit flowing through the U.S. and global financial system.
LATAM Airlines to cancel 90% of its international flights
LATAM Airlines Group, the continent’s largest carrier, said on Monday it is canceling 90% of its international flights, in light of the coronavirus outbreak.
Some European banks shut branches to limit coronavirus spread
Two of Germany’s largest banks have temporarily shut hundreds of branches, while Italian lenders have shortened opening hours as they grapple with staff shortages and the spread of coronavirus.
White House drafting financial package for U.S. airlines: sources
The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep falloff in U.S. travel demand, officials briefed on the matter said Monday.
Coronavirus: First test of a U.S. financial system 10 years in repair
A health emergency dismissed at first as a fleeting risk to the U.S. economy has turned into a full-on test of whether a decade of planning, regulation, research and soul-searching has left the financial system resilient to a major shock and its centra…
Carmakers put brakes on European production as coronavirus hits
Carmakers including Fiat Chrysler, Peugeot and Volkswagen cut production at European plants on Monday as they grappled with the coronavirus crisis and diving demand.
Google parent Alphabet shared YouTube revenue after U.S. SEC request
Alphabet Inc began disclosing revenue for its YouTube video service this year after U.S. securities regulators asked the Google parent to give more “quantitative and qualitative” data on the business, according to filings released Monday.
Deutsche Telekom postpones shareholder meeting over coronavirus
Deutsche Telekom on Monday postponed its March 26 annual general shareholders meeting due to the coronavirus, saying it planned to hold the gathering during the first eight months of this year as required by law.
Oil slumps below $30-per-barrel as coronavirus spreads, OPEC rancor remains elevated
Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, leading governments and businesses to shut down as the global economy appeared to be headed toward certain recession.
Markets tumble as big Fed move fails to quell virus fears
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 to blunt the economic impact of the coronavirus failed to calm fears of a prol…
