NEW YORK: Wall Street stocks rallied on Tuesday (Mar 17) on expectations of massive federal stimulus to address the economic hit from the coronavirus, partially recovering some of their losses from the prior session. The Dow Jones Industrial Average finished up 5.20 per cent or 1,048.86 points at ...
UOB, which has the largest Asean exposure of the three local banks, is expecting a greater impact on its credit costs than initially thought of, as the global novel coronavirus outbreak has caused several countries to go into lockdown mode.
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the "significant impact" of coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
SoftBank Group Corp is backing away from part of its planned bailout of WeWork, due to several regulatory investigations of the office sharing company, the Wall Street Journal reported https://www.wsj.com/articles/softbank-backs-away-from-part-of-planned-wework-bailout-11584479235?mod ...
U.S. Treasury Secretary Steven Mnuchin's suggestion on Tuesday that the country's stock exchanges might shorten their trading hours did not go over well with investors reeling from Wall Street's worst day in three decades and growing fears about the coronavirus.
The World Bank on Tuesday said it had increased to US$14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding US$2 billion to an initial package announced on March 3.
Apple Inc said on Tuesday it has closed retail stores across the world until further notice, except in Greater China, as companies try to contain the spread of the coronavirus.
Impossible Foods is discussing a new credit line worth several hundred million dollars with its lenders, as the plant-based meat company braces for the economic fallout of the coronavirus outbreak, people familiar with the matter said on Tuesday.
Boeing Co is seeking "tens of billions of dollars" in U.S. government loan-guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed on the matter told Reuters.
U.S. Treasury Secretary Steven Mnuchin's suggestion on Tuesday that the country's stock exchanges might shorten their trading hours did not go over well with investors reeling from Wall Street's worst day in three decades and growing fears about the coronavirus.
