China automakers seek government relief after Feb sales dive 79% on coronavirus
Automakers in China are calling on the government to help after industry-wide sales plunged 79% in February to mark their biggest ever monthly decline, with demand pummelled by the coronavirus outbreak.
Cineworld could breach debt terms in worst case virus scenario
Cinema operator Cineworld could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, the company said in its annual results release on Thursday.
Corporate credit risk heightens as coronavirus impact spreads
Investor worries about corporate credit are heating up as the coronavirus spreads, with the prices of bond funds taking a hit, companies starting to draw on credit lines and some market watchers warning of the possibility that investors pull out of pro…
Sell signal: Trump’s shallow virus plan blows floor out of markets
All global investors got from U.S. President Donald Trump’s coronavirus package were a shock travel ban on Europe and a flashing signal to sell, and none of the large-scale tax breaks or medical tests for Americans they’d been expecting.
Tesco does not expect more than short-term shortages over coronavirus
Britain’s biggest supermarket Tesco does not expect to see anything more than short-term shortages of certain products as customers stockpile over coronavirus, its chairmain said on Thursday.
Nestle mandates JPMorgan to handle Yinlu sale: Bloomberg
Food giant Nestle has mandated JPMorgan Chase & Co. to handle the sale of its struggling Chinese peanut milk business Yinlu that could be valued at about $1 billion, Bloomberg reported on Tuesday, citing sources familiar with the matter.
U.S. clampdown on European travel heaps new coronavirus woes on airlines
A clampdown on European travel to the United States will heap more pressure on airlines already reeling from the coronavirus pandemic, analysts said, raising the odds of government relief packages as billions of dollars of tourist spending vanish.
Oil falls 4% as coronavirus pandemic prompts Trump travel ban
Oil prices fell for the second straight day on Thursday amid a broad decline in global markets after the United States banned travel from Europe following the World Health Organization’s decision to declare the coronavirus outbreak a pandemic.
Insurers face double whammy from coronavirus crisis
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses.
Financial markets wilt, stocks plunge as Trump stuns with Europe travel ban
Financial markets reeled on Thursday as stocks dived and oil slumped after U.S. President Donald Trump took the dramatic step of banning travel from Europe to stem the spread of coronavirus, threatening more disruptions to trade and the world economy.
