Oil extends slide, nears $30 a barrel as virus weighs on global economy
Oil prices extended losses on Monday, slumping by more than $1 a barrel, as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus and mounting economic disruptions.
S&P 500 stock futures tumble after Fed slashes rates
U.S. stock index futures tumbled to open trading on Sunday, hitting their daily down limit, after the Federal Reserve took drastic action to cushion the economic blow from the escalating coronavirus.
Stocks plunge as Fed’s emergency rate cut fails to calm panic
Stock markets and the dollar fell heavily on Monday, after emergency rate cuts in the United States and New Zealand failed to allay fears about the coronavirus’ economic shock.
Goldman cuts U.S. growth forecast for first and second quarter due to coronavirus
Goldman Sachs Group Inc has downgraded its U.S. growth forecast for the first and second quarters in the wake of the economic fallout from the coronavirus outbreak.
Automakers, union form joint task force to limit coronavirus outbreak
Automakers General Motors , Ford Motor Co and Fiat Chrysler Automobiles (FCA) are forming a coronavirus task force along with the United Auto Workers (UAW) union to improve protections for their employees and limit the spread of the highly contagious…
Trump congratulates Fed for rates cut, calls action ‘terrific’
U.S. President Donald Trump said the Federal Reserve’s decision on Sunday to cut interest rates was “good news” and “makes me very happy” as he congratulated the central bank for taking further action aimed at helping shore up the U.S. economy amid the…
Factories shift operations in scramble to restock supermarket shelves
With supermarkets stripped of food and many other essentials, consumer product companies halted factory runs of niche items such as scented bleach in order to speed up production of more basic merchandise that is in high demand.
Under water? Banks play home loan lottery as insurers bail out
Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots.
Fed slashes rates, rips open crisis tool kit to cushion coronavirus blow
The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and launched other measures from its crisis-era toolkit, along with other central banks, to put the floor under a rapidly disintegrating global economy assailed by efforts …
Nike, Under Armour to close all U.S. stores due to coronavirus
U.S. sportswear retailers Nike Inc and Under Armour Inc said on Sunday they are closing all stores in the United States to limit the spread of the coronavirus.
