FILE PHOTO: People wearing protective masks walk in Malpensa airport near Milan, Italy, March 9, 2020. REUTERS/Flavio Lo Scalzo/File Photo LONDON (Reuters) – European airline stocks plunged as much as 20% on Thursday after U.S. President Donald Trump said he would restrict travel from Europe to the United States for 30 days to try to
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NEW YORK (Reuters) – Wall Street stocks plunged on Wednesday, with the Dow .DJI confirming a bear market for the first time since the financial crisis after the World Health Organization called the coronavirus outbreak a pandemic. All three major U.S. stock averages ended the session sharply lower, with the benchmark S&P 500 .SPX and
LONDON (Reuters) – The Bank of England cut interest rates by half a percentage point to 0.25% and announced measures to support bank lending ahead of a budget that is set to open the taps on spending to bolster Britain’s economy against the coronavirus outbreak. FILE PHOTO: Pedestrians walk past the Bank of England in
NEW YORK (Reuters) – Wall Street roared back to life on Tuesday, rebounding from the brink of bear market confirmation as bargain-hunting and hopes of government stimulus calmed investors’ fears surrounding the coronavirus and growing signs of imminent recession. News of the coronavirus outbreak is broadcast as traders work on the floor of the New
LONDON (Reuters) – Oil prices jumped by around 10% on Tuesday a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible. FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February 13, 2019./File Photo U.S. President
NEW YORK (Reuters) – Wall Street suffered its biggest one-day loss since the 2008 financial crisis on Monday and recession worries loomed large as tumbling oil prices and ongoing coronavirus fears prompted investor panic on the anniversary of the U.S. stock market’s longest-ever bull run. All three major U.S. stock averages plunged sharply at the
LONDON/BANGKOK (Reuters) – Tesco (TSCO.L) plans to return $6.6 billion to shareholders after it agreed to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of a plan to refocus on Britain. A view of the entrance to a Tesco Lotus retail shop in Bangkok, Thailand, January 18, 2020. Picture
NEW YORK (Reuters) – Pacific Investment Management Co (PIMCO), one of the world’s largest investment firms, told clients on Sunday the coronavirus outbreak is likely to cause a relatively mild and short recession though tight credit markets could worsen the downturn. FILE PHOTO: A worker wearing a face mask works on a production line manufacturing
FILE PHOTO: A clean worker wearing a face mask drives past a closed IKEA store, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. REUTERS/Jason Lee LONDON (Reuters) – IKEA, the world’s biggest furniture brand, is reopening nine of its stores in China this weekend, a
ROME (Reuters) – Italy is set to lock down its wealthiest and most populous region, which includes the financial capital Milan, as part of tough new measures expected to be approved on Saturday to try to contain the coronavirus outbreak. People wearing protective masks walk through Florence as Italy battles a coronavirus outbreak, in Florence,
BEIJING (Reuters) – About a quarter of China’s new confirmed cases and almost all of those outside the epidemic’s epicenter in Wuhan originated outside the country on Friday, according to official data. FILE PHOTO: Community workers in protective suits disinfect a residential compound in Wuhan, the epicentre of the novel coronavirus outbreak, Hubei province, China
VIENNA (Reuters) – OPEC holds crunch talks with its allies on Friday after the group told Russia and others it wanted an additional 1.5 million barrels per day (bpd) of oil cuts until the end of 2020, saying a big move was needed to deal with the impact of coronavirus. FILE PHOTO: The logo of
FILE PHOTO: A Gap Inc. retail store is shown in La Jolla, California, U.S., May 17, 2017. REUTERS/Mike Blake (Reuters) – Apparel retailer Gap Inc (GPS.N) on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck. Syngal will take
VIENNA (Reuters) – OPEC ministers are expected to approve on Thursday the outlines of a deal for a significant cut in oil production to shore up prices hammered by the coronavirus outbreak but they are still waiting for Russia to indicate whether it will back such a move. FILE PHOTO: The logo of the Organization
CHICAGO (Reuters) – United Airlines Holdings Inc (UAL.O) is slashing its flying schedule and implementing a series of cost-cutting measures in some of the most drastic actions by a U.S. airline to date as the spreading coronavirus has depressed air travel demand. FILE PHOTO: A United Airlines passenger jet takes off with New York City
LONDON (Reuters) – Brent oil prices steadied on Wednesday, paring early gains as markets assessed whether deeper output cuts by major producers would be enough to offset the impact of the coronavirus outbreak. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford Brent crude LCOc1 was down by