Twitter, Elliott reach deal for Dorsey to stay CEO, new directors
Twitter Inc on Monday reached an agreement with Elliott Management that lets Jack Dorsey stay as chief executive and adds three new directors a few days after Elliott’s plan to push out the social media company’s chief became public.
Factbox: A 7% plunge in the S&P triggered a trading halt. Here’s how circuit breakers work
A plunge in U.S. markets on Monday triggered a 15-minute trading halt in stocks after the S&P 500 fell 7% shortly after the market opened.
Wall Street pounded by oil crash, virus fears
Wall Street’s main stock indexes plummeted about 5% on Monday, as a slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession on the anniversary of the U.S. stock market’s longest bull run.
Orders sink for Italy’s luxury suppliers as virus spreads – sources
By Silvia Ognibene, Riccardo Bastianello, Silvia Aloisi
Coronavirus spread prompts Wall Street to seek regulatory approval for home trading
Wall Street banks and brokers are in “robust” talks with regulators to secure rule-waivers that would allow thousands of traders to operate from home as the coronavirus spreads in New York, the chief executive of a top industry group told Reuters.
U.S. cash crude prices plunge after Saudi-Russia supply war erupts
U.S. cash crude prices plunged on Monday, with popular export grades sliding to their weakest levels in more than a year and a half, following a collapse in benchmark futures in the biggest daily price rout since the 1991 Gulf War.
Canada banks split trading operations to ward against coronavirus disruptions
Canada’s biggest banks said on Monday they are moving some traders to alternate locations, joining global banks splitting up operations to reduce disruptions due to the coronavirus outbreak.
Big Oil faces ‘survival mode’ payout strategies as prices dive
An oil price plunge means the world’s top energy companies will have to review promises to return billions to investors, either by slowing down share buybacks or reintroducing non-cash dividends, analysts said on Monday.
Wall Street whacked by oil crash, virus fears
Wall Street’s main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 20% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
Russian oil to remain competitive despite price slump, says energy minister
Russia’s oil sector will remain competitive and keep its share of the market regardless of price forecasts, the country’s energy ministry said on Monday.
