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Siemens CEO rules out job cuts from coronavirus impact

ZURICH (Reuters) – Siemens will not cut its workforce because of the economic downturn triggered by the new coronavirus, Chief Executive Joe Kaeser said, although short-time working measures could be extended in Germany. “No one at Siemens will leave because o... More »

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Biden courts Sanders voters with student loan, healthcare policies

(Reuters) – Democratic presidential candidate Joe Biden on Thursday proposed expanding access to Medicare and forgiving some student debt in new overtures to supporters of onetime rival Bernie Sanders. Biden, who became Democrats’ presumptive nominee when Sand... More »

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Help in coronavirus crisis should come from European level: ECB

FRANKFURT (Reuters) – Help to euro zone members struggling under the weight of the coronavirus crisis should come from the European level, European Central Bank board member atold Greek newspaper To Vima in an interview. “This is not just a question of Europea... More »

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Britain orders 10,000 ventilators from F1, aerospace consortium

LONDON (Reuters) – Britain has ordered more than 10,000 ventilators from a consortium of leading aerospace, engineering and Formula One racing teams which have met an urgent government plea for help with production due to start this week. The group, including ... More »

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UK trials new breathing aid developed by Mercedes Formula One

LONDON (Reuters) – A new version of a breathing aid that can help coronavirus patients has been developed in less a week by a team involving Mercedes Formula One, and is being trialed at London hospitals. Continuous Positive Airway Pressure (CPAP) devices have... More »

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Brazilian rapper warns of coronavirus danger in Brazil’s slums

RIO DE JANEIRO (Reuters) – Brazilian rapper MV Bill added his voice to a chorus of criticism of President Jair Bolsonaro for downplaying the gravity of the new coronavirus epidemic in a video clip that urges people to protect themselves. His rap “Quarantine” r... More »

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For ECB, coronabonds could be shield against legal challenges

FRANKFURT (Reuters) – European Central Bank President Christine Lagarde has a concrete reason for putting pressure on euro zone governments to finance the fight against coronavirus with joint debt — avoiding trouble with the courts. These common “coronabonds” ... More »

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Japan says Tokyo Olympics may be postponed due to coronavirus

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said for the first time on Monday that the Tokyo Olympic Games may need to be postponed if the event cannot be held in its “complete form” due to the coronavirus pandemic. The International Olympic Committee... More »

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China sees drop in new coronavirus cases- all new cases imported

BEIJING/SHANGHAI (Reuters) – Mainland China saw a drop in its daily tally of new coronavirus cases, reversing four straight days of gains, as the capital Beijing ramped up measures to contain the number of infections arriving from abroad. China had 39 new conf... More »

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Bank of England cancels stress test of banks over coronavirus

LONDON (Reuters) – The Bank of England canceled this year’s stress test of major banks on Friday and said it may be hard to implement new global capital rules on time given the focus now on supporting lending to customers hit by the coronavirus epidemic. The d... More »

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ECB to print 1 trillion euro this year to stem coronavirus rout

FRANKFURT (Reuters) – The European Central Bank launched 750 billion euro emergency bond purchase scheme in a bid to stop a pandemic-induced financial rout from shredding the euro zone’s economy and raising fresh concerns about the currency bloc’s viability. W... More »

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Georgia bans all foreigners from entering country over coronavirus

TBILISI (Reuters) – Georgia on Monday banned all foreigners from entering the country over coronavirus concerns the prime minister’s spokesman, Irakli Chikovani, told a briefing. Georgia has reported 33 confirmed cases of coronavirus. Source: https://www.reute... More »

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U.S. crude falls below $30 as Fed move fails to calm markets

LONDON (Reuters) – U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China’s factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus. Bre... More »

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ECB ready for further action if needed: Holzmann

VIENNA (Reuters) – If the European Central Bank sees the need for further stimulus in the area of government bonds to help countries tackle the coronavirus impact, it is ready to do so, European Central Bank policymaker Robert Holzmann said on Monday. “If ther... More »

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Highlights: BOJ Governor Kuroda’s comments at news conference

(Reuters) – The Bank of Japan eased monetary policy on Monday by pledging to buy risky assets such as exchange-traded funds (ETF) at double the current pace, joining global central banks in combating the widening economic fallout from the coronavirus epidemic.... More »

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Joint Russian-European Mars mission postponed over coronavirus

MOSCOW/BRUSSELS (Reuters) – A joint Russian-European mission to send a rover to Mars has been postponed by two years because its final phase has been compromised by the coronavirus outbreak in Europe, the European and Russian space agencies said on Thursday. T... More »

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ECB’s Holzmann sees no need for rate cut to combat coronavirus

VIENNA (Reuters) – 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. When asked if targe... More »

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Portugal registers first two cases of coronavirus: SIC television

LISBON (Reuters) – Portugal registered its first two cases of the new coronavirus on Monday, SIC television channel reported. It said one case was discovered in a man who had recently traveled to Italy and another one in a man who had returned from Spain. Both... More »

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China repeats call for dialogue after North Korea missile launch

BEIJING (Reuters) – China on Monday reiterated a call for dialogue in response to North Korea’s latest missile launch and said all sides involved in efforts to rid the Korean Peninsula of nuclear weapons should reconcile conflicts through discussion. Foreign m... More »

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ECB can do more if needed, but we’re not there yet: Villeroy

PARIS (Reuters) – The European Central Bank is prepared to support the economy if needed in the face of the coronavirus outbreak, although more action is not yet needed, ECB policymaker Francois Villeroy de Galhau said on Monday. Villeroy, who is also head of ... More »

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Kuwait has 10 new cases of coronavirus, brings total to 56 – TV

DUBAI (Reuters) – Kuwait’s Health Ministry announced 10 new cases of coronavirus in the country on Monday bringing the total number to 56, a ministry official said. The official, who was speaking during a news conference broadcast on state television, urged ci... More »

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Afghanistan confirms first case of coronavirus from three suspected

KABUL (Reuters) – Afghanistan on Monday identified the country’s first case of coronavirus as reported cases outside China jump. Ferozuddin Feroz, the minister of public health, told a press conference in Kabul one of three suspected cases had been confirmed i... More »

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Virus epicenter Wuhan revokes announcement easing lockdown

BEIJING/SHANGHAI (Reuters) – An announcement that the Chinese city of Wuhan would relax some of its travel restrictions and allow some people to leave was made without authorization and has been revoked, the local government said on Monday. The city at the epi... More »

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UK employers urge Johnson not to sacrifice services in EU deal

LONDON (Reuters) – Britain must not exclude its huge services industry from a planned trade deal with the European Union as the price for reclaiming control over its economy, a group representing British employers said on Monday. The Confederation of British I... More »

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More UK spending? Higher taxes look inevitable: think-tank

LONDON (Reuters) – Britain’s new finance minister Rishi Sunak will have to raise taxes rather than rely on tweaks to budget rules if he wants to really ramp up spending in a first post-Brexit budget next month, the Resolution Foundation, a think-tank, said. Su... More »

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Euro zone to cautiously pave the way for more fiscal stimulus

BRUSSELS (Reuters) – Euro zone finance ministers are set to discuss on Monday a document that calls for a more growth-friendly fiscal policy, a move that could lead to Germany’s spending more amid fears of a downturn. The 19-country euro zone has for years stu... More »

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Take Five: In sickness and in health

(Reuters) – 1/CHINA ON SICK LEAVE A leap in coronavirus cases in Hubei gave markets pause, for all of 24 hours. Then attention shifted back to the global case-count and the rally resumed. But while investors are focused on containment, the world’s second-bigge... More »

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CPPCC studying possibility of postponing annual meeting: state media

BEIJING (Reuters) – The Chinese People’s Political Consultative Conference (CPPCC), China’s top political consultative body, is studying whether to postpone its annual meeting, state-run CCTV reported on Monday. The possible postponement of the meeting, which ... More »

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French soldier has died while on duty in Burkina Faso

PARIS (Reuters) – A French soldier has died while on operations in Burkina Faso, the French Armed Forces Ministry said in a statement on Monday. The ministry said the causes of the death of Sergeant Morgan Henry were unknown for now and an investigation was un... More »

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China parliament may delay key annual March session: Xinhua

BEIJING (Reuters) – The Chinese parliament’s top committee will meet on Feb. 24 to discuss whether to delay the annual March meeting of the full parliament, the official Xinhua news agency reported on Monday, amid the country’s coronavirus outbreak. The standi... More »

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Norway’s core inflation rebounds, boosting currency

OSLO (Reuters) – Norway’s consumer prices rose sharply in January from a year earlier, official data showed on Monday, strengthening the crown currency ahead of a major policy speech by the central bank governor on Thursday. Core inflation, a key measure for m... More »

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No phones, no leaks: How Lagarde is making her mark on ECB

FRANKFURT (Reuters) – Gathered in a German mountain castle last November for an evening retreat that ended with a whiskey-tasting, rebel European Central Bank policymakers and Christine Lagarde, their newly confirmed president, made a pact. Lagarde pledged to ... More »

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Factbox: Indonesia’s parliament debates sweeping new tax bill

JAKARTA (Reuters) – Indonesia’s parliament will soon begin debating a sweeping new bill that proposes corporate tax cuts and seeks to make internet giants pay more taxes, as part of a wider plan to simplify laws and boost investments in Southeast Asia’s bigges... More »

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Turkey reduces fees banks can charge commercial, financial clients

ISTANBUL (Reuters) – Turkey has reduced the range and the levels of fees and commissions that banks can charge clients, according to central bank and banking watchdog regulations announced on Monday. The measures will cut the various charges banks can charge f... More »

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China says U.S. creating, spreading fear after virus outbreak

BEIJING (Reuters) – The United States has taken actions that create and spread fear following a coronavirus outbreak in China, instead of offering any significant assistance, the Chinese foreign ministry said on Monday. The United States was the first nation t... More »

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Turkish inflation climbs more than expected to above 12%

ISTANBUL (Reuters) – Turkey’s consumer price inflation rose a bit more than expected to 12.15% year-on-year in January, official data showed on Monday, climbing for the third consecutive month after a dramatic drop last year. A currency crisis in 2018 sent inf... More »

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Impact of virus on China’s economy will be temporary: PBOC papers

SHANGHAI (Reuters) – The impact from a virus epidemic on China’s economy will be limited and temporary, and the country’s financial markets will return to normal in the long run, a commentary in a newspaper owned by the central bank said on Monday afternoon. T... More »

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ECB’s Enria blames legislative ‘mess’ for dos Santos fiasco

FRANKFURT (Reuters) – The euro zone’s top bank supervisor blamed a “mess” of diverging laws across the bloc on Tuesday for the European Central Bank’s failure to stop Angolan billionaire Isabel dos Santos, who is suspected of fraud, from controlling a bank in ... More »

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China allots nearly $9 billion to contain spread of virus

SHANGHAI (Reuters) – China’s finance ministry and National Health Commission have extended 60.33 billion yuan ($8.74 billion) to help contain a spreading virus, according to a statement on the ministry’s website. The death toll from the coronavirus outbreak ro... More »

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Singapore says China virus outbreak will hit its economy this year

SINGAPORE (Reuters) – Singapore said on Monday that the coronavirus outbreak will hurt its economy this year, as it announced new measures to tackle the disease which originated in China and has spread to the city-state and several other countries. The Southea... More »

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China calls on Canada to release Huawei executive Meng

BEIJING (Reuters) – China urged Canada on Monday to release detained Huawei Technologies executive Meng Wanzhou as soon as possible. Foreign ministry spokesman Geng Shuang, who made the comments at a daily briefing on Monday, also said that Canada should corre... More »

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China’s yuan leads rally ahead of U.S. trade deal

LONDON (Reuters) – China’s yuan led a rally in trade-sensitive currencies on Monday and the Australian dollar recovered some recent losses as the imminent signing of a preliminary U.S.-China trade deal boosted sentiment. The U.S.-China Phase 1 agreement, due t... More »

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China’s central bank signs currency settlement agreement with Laos

BEIJING (Reuters) – China’s central bank said on Thursday that it has signed a currency agreement with Laos, allowing direct local currency settlement for transactions under the current and capital accounts. The agreement was aimed at boosting financial cooper... More »