Oil plunges 25%, hit by erupting Saudi-Russia oil price war
Crude prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.
Coronavirus fears, oil price plunge pummel world markets
Global stock markets plunged on Monday and oil prices tumbled by as much as a third after Saudi Arabia launched a price war with Russia, sending investors already spooked by the coronavirus outbreak fleeing for the safety of bonds and the Japanese yen….
JPMorgan to cut up to 140 jobs in Switzerland: source
JPMorgan Chase & Co could eliminate up to 140 jobs in Switzerland in an effort to cut costs, a person familiar with the matter told Reuters on Monday, confirming a report by the Swiss financial news website Finews.
Amazon recommends New York, New Jersey employees work from home due to virus
Amazon.com Inc has extended its work-from-home advisory to include employees in New York and New Jersey, the company said Monday, as the world’s largest online retailer and other corporations aim to lower the risk of coronavirus transmission among the…
Boeing shares plunge on coronavirus, 737 MAX wiring bundle setback
Shares of Boeing Co dropped more than 12% on Monday amid a broader market plunge as pressure mounted on global aviation from the spread of the coronavirus and U.S. regulators said they disagreed with Boeing’s argument about the safety of wiring bundle…
Market flop: Cineworld deal exposes stress in Europe’s credit market
The move by banks to force Cineworld’s top shareholder to refinance a loan without equity collateral is yet another sign of mounting stress in Europe’s junk debt market as the coronavirus roils markets and businesses around the world.
Ethiopia Airlines crash report focuses on Boeing’s faulty systems
Ethiopian investigators singled out faulty systems on a Boeing 737 MAX plane in an interim report on last year’s Ethiopian Airlines crash that killed 157 people, piling pressure on the U.S. jetmaker on the eve of the disaster’s anniversary.
U.S. bank shares slammed as virus, plunging oil amp up economic fears
Shares of U.S. banks sharply underperformed the broader stock market on Monday as investors bet tumbling interest rates would crush bank profits and worried about rising credit costs in the face of an economy spooked by coronavirus and plunging oil pri…
Aon buys Willis for $30 billion in world’s largest insurance deal
Aon Plc said on Monday it would buy Willis Towers Watson Plc for nearly $30 billion, in an all-stock deal which will make it the world’s biggest insurance broker and give it more pricing power, but also attract regulatory scrutiny.
Exclusive: CBOE VIX options froze at open – exchange official
Trading in options on Wall Street’s fear gauge was impossible in the first minutes of Monday’s session due to a complete absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets Inc said…
