ECB’s Holzmann sees no need for rate cut to combat coronavirus
European Central Bank policymaker Robert Holzmann said he would not support an interest rate cut to insulate the euro zone from the effects of the coronavirus epidemic but he could consider giving firms ultra cheap loans.
Kuwait oil minister says optimistic on outcome of OPEC meetings
Kuwait’s oil minister said on Tuesday he is optimistic about the outcome of OPEC meetings this week and continued cooperation among OPEC+ countries, Kuwait state news agency KUNA reported.
Global markets: Here come the cavalry?
A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.
High-fives, hugs, kisses discouraged as U.S. companies respond to growing coronavirus threat
As news broke of more cases of coronavirus spreading across the United States, T-Mobile had a novel response to the threat: fewer hugs, kisses or high-fives.
Bank of England’s Carney sees powerful global response to coronavirus
Bank of England Governor Mark Carney said policymakers around the world were working on a “powerful and timely” response to the economic hit from coronavirus which has raised fears of a new global recession.
OPEC ministers gather in Vienna as coronavirus hits demand
OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus.
Kremlin stays silent on Russia oil cut plans ahead of OPEC+ meeting
The Kremlin told reporters on Tuesday it would not say whether Moscow was ready to make additional oil output cuts as part of the cooperation between OPEC and non-OPEC countries and said it was necessary to wait for their meeting later this week.
European airlines warn of worsening impact of coronavirus
European airlines warned on Tuesday the worst is still to come in economic damage to the industry from the rapid spread of coronavirus Covid-19.
Daimler says production in China stable but too early to forecast coronavirus impact
Daimler’s car production in China is stable and the supply chains are secure but it is too early to forecast the impact of the coronavirus outbreak on the German carmaker’s sales, Mercedes-Benz’s sales chief said on Monday.
Ryanair, IAG bosses see travel demand returning for summer
The bosses of Ryanair and British Airways-owner IAG expect the drop-off in travel demand to stabilize in the coming weeks, before bookings return for the summer, they said at a conference on Tuesday.
