Explainer: Coronavirus fears hit the market hard. How much did ordinary Americans lose?
The deep declines in the U.S. stock market over coronavirus fears the last three weeks have left a dent in retirement portfolios and brokerage accounts, costing on average each person in the United States around $16,000 as of Monday’s close before a re…
Oil falls as Saudi Aramco aims to increase output capacity
Oil prices fell on Wednesday, giving up earlier gains, pressured by Saudi Arabia’s plans to boost oil production capacity for the first time in more than a decade and weakened demand due to the spread of the coronavirus.
Fed faces headache, taps epidemiologists in hunt for policy clues
The escalating coronavirus outbreak is giving the U.S. Federal Reserve a policy headache like never before: how to judge the potential impact on the economy in the absence of reliable data on how fast the flu-like illness is spreading across the United…
Japan’s Sharp files patent infringement lawsuit against U.S. TV brand Vizio
Japan’s Sharp Corp said on Wednesday it has filed a patent infringement lawsuit against U.S. TV brand Vizio Inc and two others, seeking an injunction to ban one of Vizio’s TV products in the United States.
Fiat Chrysler temporarily halts some Italian plants to battle virus
Fiat Chrysler is temporarily halting operations at some plants in Italy and will reduce production rates in response to the coronavirus outbreak in the country, the largest in Europe, a spokesman for the automaker said on Wednesday.
Stocks gain after emergency BoE cut adds to stimulus hopes
European stocks rose on Wednesday after the Bank of England joined other central banks in cutting interest rates, raising hopes for more co-ordinated monetary and fiscal stimulus to counter the economic shock from the coronavirus outbreak.
Britain fires with both barrels: emergency rate cut and budget boost
The Bank of England slashed interest rates by half a percentage point on Wednesday and announced support for bank lending just hours before the unveiling of a budget splurge designed to stave off a recession triggered by the coronavirus outbreak.
Highlights: Bank of England governor speaks at press conference
The Bank of England governor Mark Carney and his successor, Andrew Bailey, spoke at a press conference after the central bank unexpectedly cut interest rates by half a percentage point to 0.25% on Wednesday.
BoE’s Carney says coordinating with finance ministry for max impact
Governor Mark Carney said on Wednesday the Bank of England was coordinating with Britain’s finance minister to ensure its surprise interest rate cut and other measures announced on Wednesday would have maximum impact.
Saudi announces plan to boost oil production capacity for first time in years
Saudi Arabia said on Wednesday it plans to boost oil production capacity for the first time in more than a decade, a day after it announced a record high hike in crude supply in a battle for market share that has hammered global prices this week.
