Oil up over 5% as hopes of OPEC cut, stimulus counter virus gloom
Oil prices rose over 5% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
UK wants retaliatory tariffs removed early on in U.S. trade talks: Truss
British trade minister Liz Truss said she wanted with the United States to agree to the removal of retaliatory tariffs on some British and U.S. products over EU subsidies on large aircraft early in trade negotiations to show goodwill.
Apple stock rebounds almost 7% to head for strongest day since 2018
Shares in Apple surged 6.9% on Monday, helped by a broad Wall Street rebound and an upgraded rating from an analyst who said the iPhone maker’s stock had become oversold following last week’s rout related to fears about the new coronavirus.
Factbox: Jack Welch proteges who led Corporate America
Jack Welch, one of the most influential business leaders and former chief executive officer of General Electric Co , has died at the age of 84.
Big Fed rate cuts baked into futures prices as virus spreads
The U.S. central bank will deliver a big dose of stimulus starting this month in a bid to protect the world’s biggest economy from the impact of the coronavirus, traders of futures contracts tied to Federal Reserve policy are betting.
Ryanair to cut Italy flights by 25% due to coronavirus
Ryanair will cut capacity in and out of Italy, its largest market, by 25% for three weeks due to a significant drop off in bookings since a coronavirus outbreak, Europe’s biggest low-cost airline said on Monday.
White House set to meet with senior airline, cruise industry officials
The White House will hold meetings this week with top executives from U.S. airlines and the cruise industry amid the growing coronavirus outbreak, a spokeswoman for Vice President Mike Pence confirmed Monday.
UK trade minister says hopes to start U.S. trade deal talks as quickly as possible
Britain is aiming to begin negotiations on a post-Brexit trade deal with the United States as quickly as possible, trade minister Liz Truss said on Monday.
Stocks rally after last week’s rout on central bank policy hopes
Equity markets around the world rose on Monday as speculation that central banks will cut interest rates to soften the economic blow of the coronavirus heartened investors and drove U.S. government debt yields to record lows.
Trump, business leaders comment on Jack Welch’s death
Jack Welch, the legendary CEO who led General Electric Co for two decades to create the most valuable public company in the United States, died at the age of 84.
