S&P 500 tumbles as trading on Wall Street resumes
The S&P 500 index plunged over 9% on Monday as trading resumed after an initial automatic 15-minute cutout, driven by mounting fears of the damage the coronavirus is doing to the global economy.
Lockheed Martin’s Marillyn Hewson to step down as CEO
Lockheed Martin Corp said on Monday company veteran Marillyn Hewson will step down as chief executive officer, and tapped board member and American Tower Corp boss James Taiclet as her replacement.
Lufthansa cuts 90% of long-haul flights: statement
German airline Lufthansa said it would further cut its flight schedule after Monday’s announcement that its Austrian Airlines division was scrapping all flights in response to the coronavirus-induced collapse in passenger demand.
French carmaker PSA closes European factories due to virus spread
French carmaker PSA said on Monday the company will close its European factories until March 27 due to the coronavirus outbreak spread.
Trading on Wall Street halted as S&P 500 tumbles 8%
The S&P 500 tumbled 8% at opening on Monday, triggering an automatic 15-minute halt of Wall Street’s three main indexes for the third time in six days, as traders reacted to drastic weekend measures from the Federal Reserve to stave off a global recession.
Carmakers curb European production as coronavirus hits
Carmakers including Fiat Chrysler , Peugeot , Volkswagen and its premium unit Audi throttled back production at their European plants on Monday as they grapple with the coronavirus crisis and plunging demand.
Italian government to take control of Alitalia: draft decree
The Italian government plans to take control of Alitalia, a draft decree seen by Reuters showed on Monday, as the loss-making carrier risks going belly up due to the impact of the coronavirus outbreak.
Virgin Atlantic to ground up to 85% of fleet in coronavirus crisis
Virgin Atlantic, the UK-based airline, said it would ground 75% of its fleet by 26 March and by up to 85% at points in April, as it canceled more flights due to coronavirus.
LSE gets U.S. nod for Refinitiv deal
The London Stock Exchange Group said on Monday it had gained approval from the U.S. Committee on Foreign Investment for its $27 billion takeover of analytics firm Refinitiv, judging there were no national security concerns with the deal.
JPMorgan allows employees to work from home as coronavirus spreads: memo
JPMorgan Chase & Co has asked all managers globally to allow employees who can effectively work from home to begin doing so to help with social distancing as the coronavirus pandemic spreads, according to a memo seen by Reuters.
