Stock market rout doubles pain for energy firms that took shares for deals
Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers have all but dried up.
Global central banks pull out all stops as coronavirus paralyzes economies
The U.S. Federal Reserve and its global counterparts moved aggressively with sweeping emergency rate cuts and offers of cheap dollars to help combat the coronavirus pandemic that has jolted markets and paralyzed large parts of the world economy.
Quarantined bankers, video roadshows: coronavirus hits Argentine debt talks
Argentina’s ambitious target to strike a deal with bondholders to revamp almost $70 billion in debts by the end of March was never going to be easy. Now a coronavirus outbreak and crashing bond markets threaten to complicate things further.
Wall Street set to crash again after Fed slashes rates
Wall Street looked set to crater on Monday as fears of a coronavirus-driven recession intensified following a second emergency interest rate cut in a fortnight by the Federal Reserve.
Major airline alliances call on governments for support due to coronavirus
The three major airline alliances — Star, SkyTeam and oneworld — on Monday jointly called on governments and stakeholders to extend extraordinary support to airlines to alleviate pressure caused by the coronavirus outbreak.
Uniqlo owner says most shops in China outside Hubei have reopened
Japan’s Fast Retailing said only 30 of its 750 Uniqlo stores in China were still closed, meaning most of its shops outside Hubei province, the epicenter of the coronavirus outbreak, had reopened.
Stocks dive as Fed & co fail to calm panicky markets
Stock markets were routed and the dollar stumbled on Monday after the Federal Reserve slashed U.S. interest rates in an emergency move and its major peers offered cheap U.S. dollars in a bid to prevent global lending markets seizing up.
U.S. crude falls below $30 as Fed move fails to calm markets
U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China’s factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
BA-owner has not asked for state aid: CEO
British Airways-owner IAG has not asked for state aid, said its CEO, as he detailed the group’s response to the coronavirus crisis, including accelerating the retirement of some aircraft and possible cuts to 2021 capacity.
British Airways-owner, easyJet make drastic cuts to try to survive coronavirus
The owner of British Airways and easyJet, Europe’s no.3 and no.4 airlines, said they would ground aircraft on an unprecedented scale in a battle to survive the travel restrictions and European lockdowns now convulsing the industry.
