Fed’s Mester sees possible economic impact from coronavirus outbreak
The coronavirus outbreak has muddied the outlook for the U.S. economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London on Tuesday.
Oil lower on coronavirus fears despite Fed rate cut and hopes for OPEC+ output cut
The global oil benchmark ended Tuesday slightly lower under pressure from falling equities, but the losses were contained slightly as top producers considered more output cuts to support prices and the Federal Reserve cut U.S. interest rates to support…
Stocks slide, 10-year Treasury yield hits record low after Fed’s emergency rate cut
Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the fast-spreading coronavir…
JPMorgan tests U.S. virus plan with thousands working from home: Bloomberg News
JPMorgan Chase & Co is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, Bloomberg News reported on Tuesday.
Fed virus-driven cut may test new approach to inflation
U.S. Federal Reserve officials have slashed interest rates half a percentage point because of the coronavirus.
Wall Street tumbles after Fed surprise rate cut
Wall Street tumbled in a volatile session on Tuesday after the Federal Reserve surprised investors with a half percentage-point cut in interest rates, amplifying fears about the magnitude of the coronavirus’ impact on the economy.
OPEC, Russia moving closer to big oil cut as coronavirus hits demand
A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak.
UPS and FedEx warn coronavirus outbreak could hurt operations
U.S. package delivery companies United Parcel Service Inc and FedEx Corp warned on Tuesday that the coronavirus outbreak could disrupt shipment of goods in affected countries and possibly weigh on their first-quarter results.
Nokia says will cut up to 148 jobs in Finland this year
Finnish network equipment maker Nokia will cut up to 148 jobs in Finland in 2020 excluding its 5G development operations, it said on Tuesday evening.
Lufthansa CEO supports Boeing-Embraer tie-up
Germany’s Lufthansa threw its weight behind a proposed $4.2 billion takeover of Embraer’s commercial aircraft activities by Boeing , saying it would preserve a level playing field.
