LOS ANGELES (Reuters) – Walt Disney Co’s (DIS.N) acquisitions spree that included swallowing much of Rupert Murdoch’s 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world’s most powerful entertainment machi... More »
NEW YORK (Reuters) – Some dividend fund managers are wading back into the shares of battered railroad stocks, energy companies and other economically sensitive, cyclical names, even as a host of companies have slashed their payouts. Cyclical stocks were among ... More »
NEW YORK (Reuters) – U.S. jobless claims have exceeded 30 million since the coronavirus outbreak hit the country, wiping out a decade of job gains and sending many Americans scrambling to find work and cash in on government aid. As part of our weekly #AskReute... More »
MOUSCRON, Belgium (Reuters) – With potato farmers and processors struggling, Belgians are being urged to eat more fries to offset a slump in demand during the coronavirus pandemic. Belgium is the world’s largest exporter of fries and other frozen potato produc... More »
NEW YORK, April 29 (Reuters) – U.S. money market fund assets increased by $72.69 billion to $4.652 trillion in the week ended April 28, the Money Fund Report said on Wednesday. Taxable money market fund assets increased by $74.71 billion to $4.515 trillion, wh... More »
NEW YORK (Reuters) – If you were laid off in April, the health insurance from your job may stop at the end of the month. Then what? Rest assured there are options, even if they are all expensive. If you are losing a workplace plan, you will get paperwork expla... More »
DUBAI (Reuters) – Japan’s Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T) expects countries in the six-nation Gulf Cooperation Council (GCC) to be in deep recession this year with overall real GDP contracting 3.7% from a previous growth forecast of 2.9%. Th... More »
OSLO (Reuters) – Norwegian Air (NWC.OL) could run out of cash by mid-May unless its proposed financial rescue plan is approved by creditors and shareholders, the budget carrier warned on Monday. If approved by bondholders, leasing companies and shareholders, t... More »
LONDON (Reuters) – Britain’s airlines want the government’s coronavirus wage support scheme to be extended beyond June, maintaining the assistance for longer with a only slow recovery in air travel expected. Airlines UK, the industry’s representative body, wro... More »
SHANGHAI (Reuters) – Luckin Coffee (LK.O) said on Monday China’s State Administration for Market Regulation was carrying out work to understand the coffee chain’s operating situation and added that it was actively cooperating. It also said in a statement poste... More »
BERLIN (Reuters) – The German government and the federal state of Hesse have agreed to provide Condor with loans worth 550 million euros ($596.31 million), the economy minister said on Monday, after the owner of Poland’s LOT pulled out of a deal to buy the air... More »
TOKYO (Reuters) – The Bank of Japan expanded monetary stimulus on Monday and pledged to buy unlimited amount of bonds to keep borrowing costs low as the government tries to spend its way out of the deepening economic pain from the coronavirus pandemic. The mov... More »
(Reuters) – Troubled hospital operator NMC Health (NMC.L) on Monday said it requested London Stock Exchange to delist its shares after they remained suspended for two months. The UAE-based company was placed into administration earlier this month, on the appli... More »
(Reuters) – Holiday Inn-owner InterContinental Hotels (IHG.L) said on Monday it had raised 600 million pounds ($747 million) from Bank of England loans under the government’s coronavirus aid scheme as it estimated a 25% plunge in global revenue per available r... More »
BERLIN (Reuters) – Adidas (ADSGn.DE) reported a 93% plunge in first-quarter profit and sales off 19%, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores. F... More »
SINGAPORE (Reuters) – Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic. U.S. oil futures led l... More »
FRANKFURT (Reuters) – German drugs and pesticides company Bayer said the economic downturn has prompted it to take a tougher stance in talks to settle claims its glyphosate-based weedkillers cause cancer, even as its earnings rose. The pandemic has significant... More »
(This April 26 story has been refiled to correct spelling of commerce ministry official’s first name in paragraph four) BEIJING (Reuters) – China is dropping a requirement that a number of key virus care products get domestic regulatory approval before export,... More »
LONDON (Reuters) – The European Central Bank meets on Thursday, the ink barely dry on its emergency bond-buying scheme, and markets are already asking what more it will do to help the euro zone economy through the coronavirus crisis. Its emergency stimulus, wh... More »
TAIPEI (Reuters) – The U.S. Treasury’s latest semi-annual report on trade practices of its major trading partners which was due this month has been delayed due to the coronavirus pandemic, two sources with direct knowledge at Taiwan’s central bank told Reuters... More »
BOSTON (Reuters) – Investors in SkyBridge Capital asked for hundreds of millions of dollars back after the fund suffered a 23% loss in March when investments made by its debt-focused hedge fund managers soured, Anthony Scaramucci wrote in a letter to clients, ... More »
NEW YORK (Reuters) – In a little over a year, when Americans file their 2020 tax returns, much of what is going on with coronavirus-linked stimulus payments will finally add up. Until then, prepare for confusion. Think you got shorted on the Economic Impact Pa... More »
(Reuters) – The Silicon Valley venture capital firm known for its early backing of companies such as Uber Technologies Inc is raising a new fund, but without one of its most prominent general partners, a source close to the firm said on Wednesday. Benchmark is... More »
(Reuters) – The United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, is moving to spread out its investments in oil futures in response to extreme market turbulence, it said in a filing on Wednesday. USO said it may ... More »
NEW YORK (Reuters) – U.S. brokers should not be forced to sign an agreement that could make them liable for breaches of a massive new industry trading database that they have no control over, a leading financial industry trade group told regulators on Wednesda... More »
BENGALURU (Reuters) – The euro zone economy is already in its deepest recession on record, according to a Reuters poll of economists, who have stuck to a bleak outlook and worry the downturn might be even worse as coronavirus lockdowns across the bloc take the... More »
NEW YORK (Reuters) – Some U.S. fund managers are attempting what seems like an impossible task: making bets on the stocks and bonds of energy companies at a time when oil futures have sunk to historic lows and a swelling global glut shows no sign of letting up... More »
LONDON (Reuters) – The number of people in jobs in Britain grew more slowly in March than in February, official figures showed on Tuesday in an early sign of the impact of the coronavirus shutdown which is expected to hammer the jobs market. Growth in the numb... More »
FRANKFURT (Reuters) – Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation. Global car and truck makers are exploring way... More »
(Reuters) – European stocks fell on Tuesday as the double whammy from a crash in U.S. crude to minus $40 per barrel and dismal first-quarter earnings reports spooked investors about the lasting damage to the global economy from the coronavirus pandemic. BP Plc... More »
BEIJING (Reuters) – China is handing out billions of yuan in shopping coupons to support retailers crushed by the COVID-19 outbreak, but the subsidies are doing little to support the kind of discretionary spending needed to revive the economy. Instead, a big c... More »
SYDNEY (Reuters) – Virgin Australia Holdings Ltd (VAH.AX) on Tuesday succumbed to third-party led restructuring that could lead to a sale, making Australia’s second-biggest airline the Asia-Pacific region’s biggest victim of the coronavirus crisis gripping the... More »
BRUSSELS (Reuters) – European Union leaders meeting are on Thursday expected to defer a final decision on how to finance the bloc’s economic recovery in the aftermath of the coronavirus pandemic, diplomats and officials said. The 27 national leaders have alrea... More »
SYDNEY (Reuters) – Australia will suffer its biggest economic contraction since the 1930s in the first half of this year due to containment measures to curb the spread of the coronavirus, its central bank governor said on Tuesday. Describing the contraction as... More »
SEOUL (Reuters) – U.S. oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude. U.S. West Texas Inter... More »
(Reuters) – A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse. U.S. West Texas ... More »
LONDON (Reuters) – The oil price will stay low for some time as supply exceeds demand and the current situation on global oil markets is reminiscent of the 1980s oil glut, former BP boss John Browne said on Tuesday. “The prices will be very low and I think the... More »
SEOUL (Reuters) – South Korean exports plunged nearly 27% in the first 20 days of April as the coronavirus health crisis paralyzed global manufacturing activity and crushed consumer demand. The worst may be yet to come with many of the country’s top trading pa... More »
FRANKFURT (Reuters) – The euro zone’s fiscal response to the coronavirus crisis has been inadequate so far and threatens the single market, European Central Bank board member Fabio Panetta said in an editorial published by Politico. Budget action should be pro... More »
STOCKHOLM (Reuters) – Swedish truck maker Volvo (VOLVb.ST) said on Tuesday it had signed a deal with German rival Daimler (DAIGn.DE) to set up a joint venture to develop and produce fuel cell systems for heavy-duty vehicles. Daimler will consolidate all its cu... More »
MILAN (Reuters) – Workers at Ferrari (RACE.MI) are signing up en masse for voluntary coronavirus screening so they can return to work as soon as possible in an ambitious scheme that could serve as a blueprint for manufacturers desperate to resume production. U... More »
(Reuters) – The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity. The contrac... More »
(Reuters) – Investors sent record inflows to high-yield corporate bonds and broke a six-week losing streak for investment-grade debt in the week that ended Wednesday as market volatility from the coronavirus crisis began to subside, according to Lipper data re... More »
NEW YORK (Reuters) – If you got your stimulus payment this week from the IRS and it is still in your account, are you afraid to spend it? Many recipients immediately deployed the money they received as part of the CARES Act – up to $1,200 per adult and $500 pe... More »
CHICAGO (Reuters) – In what now seems like a galaxy far, far away, Republican lawmakers routinely talked up the idea of raising the Medicare eligibility age from 65 to 67. In fact, we were in that galaxy just three years ago. A higher Medicare age was an awful... More »
NEW YORK (Reuters) – After closing their doors to prevent the spread of the coronavirus, many small businesses face an uncertain future following government-ordered lockdowns. As part of our weekly #AskReuters Twitter chat series, Reuters gathered a group of s... More »
(Reuters) – Investors withdrew record amounts of money from bond and equity funds in March while money market funds showed record inflows, as the prospect of a massive economic downturn due to coronavirus rattled nerves, according to the latest data from Lippe... More »
NEW YORK (Reuters) – Sara Pauly is not one of those small business owners scrambling to fill out paperwork for part of the more than $350 billion in government aid available through the Paycheck Protection Program or the Economic Injury Disaster Loan. Instead,... More »
MANILA (Reuters) – The Asian Development Bank [ADB.UL] announced on Monday it was tripling the size of its rescue package to $20 billion to help developing countries in Asia counter the severe macroeconomic and health effects of the coronavirus pandemic. It pr... More »
BANGKOK (Reuters) – Thailand’s job losses may reach 10 million if the coronavirus outbreak continues for a few months, a business advisory council said on Monday. Southeast Asia’s second-largest economy is being hit hard by the virus outbreak and is heading in... More »
TOKYO (Reuters) – Japan may see new hirings slow and job losses increase, particularly among service-sector firms struggling to cope with the intensifying pain of the coronavirus crisis, according to an analysis of survey data by a private think-tank. Dai-ichi... More »
TOKYO/SINGAPORE (Reuters) – Global equities weakened on Monday as investors braced for more indications of economic damage from the coronavirus pandemic while oil prices rose in choppy trade following a landmark deal by OPEC and its allies to cut output. U.S. ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. After four day... More »
CHICAGO (Reuters) – Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus and concerns about its spread. Here are some facilities that have shut or reduced production: * JBS USA [JBS.UL] shut a ... More »
CHICAGO (Reuters) – Smithfield Foods, the world’s biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among employees and warned the country was moving “perilously close to the edge” in supplies for ... More »
MUMBAI (Reuters) – The impact of the novel coronavirus outbreak on the Indian economy would depend on the depth, duration and diffusion of the crisis, the Reserve Bank of India said in the minutes of its emergency monetary policy committee (MPC) meeting in Mar... More »
SINGAPORE (Reuters) – Minimal oil price gains on Monday show record output cuts by giant producers will still leave them with a mountain to climb to restore market balance, industry watchers said, with the coronavirus pandemic decimating demand just as stocks ... More »
BAKU/DUBAI/LONDON (Reuters) – OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil... More »
(Reuters) – Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. The Organization of... More »
TOKYO (Reuters) – The agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output failed to reach the reduction levels expected by the market, leading to oil prices remaining stagnant, the head of the Japanese petrole... More »
SEOUL (Reuters) – Kia Motors Corp (000270.KS) told its labour union in South Korea that it wants to suspend operations at three of its domestic factories as the coronavirus outbreak weighs on exports to Europe and the United States, a union official said on Mo... More »
(Reuters) – An agreement by oil-producing nations on Sunday to cut output by a record amount may sustain a recent bounce in stocks, although stay-at-home restrictions and closures tied to the coronavirus pandemic still weigh on the global economy. OPEC and all... More »
CAIRO (Reuters) – Iraq’s oil minister said late on Sunday that the big oil cut deal reached at an OPEC+ meeting would help stabilize the market. Thamer al-Ghadhban said in a statement that the “massive oil cut deal will help lower oil inventories and boost pri... More »
NEW YORK (Reuters) – Many Americans have found themselves quickly adjusting to new routines, offices and “co-workers” as mass lockdowns keep millions of employees confined to their homes and apartments. As part of our #AskReuters Twitter chat series, Reuters i... More »
BRUSSELS (Reuters) – European Union countries on Thursday evening agreed the emergency credit lines from the euro zone’s bailout fund “will be available until COVID-19 crisis is over”, a draft of their deal read. Afterwards, euro countries should remain commit... More »
NEW YORK(Reuters) – The crisis posed by COVID-19 is worrisome enough for full-time employees. Imagine life as a freelancer. Your income can vary wildly from month to month and is likely being cut back as companies shave costs. Your check may come in the mail, ... More »
NEW YORK (Reuters) – Investors are betting on stocks to remain volatile well into the year, suggesting that many expect the long-term economic and public health impact of the pandemic caused by the novel coronavirus to continue roiling markets despite a recent... More »
BRUSSELS (Reuters) – The European Central Bank told euro zone finance ministers that the bloc may need fiscal measures worth up to 1.5 trillion euros ($1.6 trillion) this year to tackle the economic crisis caused by the COVID-19 epidemic, officials told Reuter... More »
FRANKFURT/RIGA (Reuters) – It would be irresponsible of euro zone countries to leave the European Central Bank alone in the fight against an economic slump caused by the coronavirus outbreak, ECB policymaker Martins Kazaks said on Wednesday. Finance ministers ... More »
WASHINGTON (Reuters) – The head of the examination office at the U.S. Securities and Exchange Commission (SEC) on Tuesday published details about the expected scope and content for compliance with a new rule requiring broker-dealers and investment advisers to ... More »
(Reuters) – Geico Corp, part of billionaire Warren Buffett’s Berkshire Hathaway Inc, said on Tuesday it will offer about $2.5 billion of credits to its 19 million auto and motorcycle policyholders, reflecting the decline in driving stemming from the coronaviru... More »
NEW YORK (Reuters) – Some top-performing U.S. fund managers see opportunities in one of the sectors hardest hit by the coronavirus pandemic, cautiously increasing stakes in niches of the real estate market like cell phone towers and warehouses, which they see ... More »
NEW YORK (Reuters) – When Rachel Baron wanted to give back to her community affected by COVID-19, her first thought was to help local emergency room doctors. So the 46-year-old advertising copywriter worked with some friends to set up food deliveries from loca... More »
BRUSSELS (Reuters) – Euro zone finance ministers hope to agree on Tuesday on half a trillion euros worth of economic aid to finance recovery from the coronavirus, a discussion that has sown divisions as the bloc struggles with the outbreak. If they do agree, t... More »
LONDON (Reuters) – Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help reduce global oversupply as the coronavirus pandemic pummels demand. Brent crude LCoc1 fell more than $3 when Asian markets ope... More »
LONDON (Reuters) – Dollar borrowing costs in the foreign exchange swap markets retreated further on Monday, with swap rates against the euro and pound falling to their lowest levels in more than a decade. These moves indicate recent emergency actions by global... More »
LONDON (Reuters) – Britain’s construction sector saw the sharpest fall in activity since the financial crisis last month, a survey showed on Monday, despite facing much less pressure than other industries to shut down operations due to the coronavirus. The fig... More »
BRUSSELS (Reuters) – The European Commission said on Monday it had approved a 50 billion pound ($61.5 billion) British “umbrella” scheme to support companies affected by coronavirus outbreak. The approval is in line with modified EU rules allowing a temporary ... More »
BERLIN (Reuters) – Investor morale in the euro zone fell to an all-time low in April and the bloc’s economy is in deep recession due to the coronavirus, which is “holding the world economy in a stranglehold”, a survey showed on Monday. Sentix’s index for the e... More »
LONDON (Reuters) – The Global Federation of Insurance Associations on Monday warned the world’s governments of the danger of forcing insurers to pay out for losses suffered due to the coronavirus even when pandemic losses were not included in existing policies... More »
(Reuters) – European shares rebounded on Monday as a slowdown in coronavirus deaths raised hopes that nationwide lockdowns were starting to show results, while Rolls Royce soared after becoming the latest multinational firm to raise cash to weather an economic... More »
FRANKFURT (Reuters) – As Germany rolls out a 750 billion-euro economic stimulus package, officials and experts are discussing whether German lenders, including Deutsche Bank AG and Commerzbank AG, will be able to weather the economic fallout of coronavirus wit... More »
LONDON (Reuters) – A group representing Britain’s car industry cut its sales forecast for this year by 23% to 1.73 million vehicles because of the impact of the coronavirus crisis. The figure represented a 25% fall from the number of new car registrations in 2... More »
LONDON (Reuters) – 1/LOOKING TO CHINA The world’s biggest economy won’t be open for business by Easter, as U.S. President Donald Trump had hoped, but the second biggest economy may come close. How China fares offers a guide to other countries when their corona... More »
SYDNEY (Reuters) – Stocks jumped on Monday as investors were encouraged by a slowdown in coronavirus-related deaths and new cases, while oil prices skidded after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive. Equity i... More »
ZURICH (Reuters) – Switzerland faces a shortage of the raw material needed to make disinfectant to tackle the coronavirus pandemic after the country abandoned its emergency reserve of 10,000 tonnes of ethanol two years ago, newspaper Tages-Anzeiger reported on... More »
NEW YORK (Reuters) – Wall Street analysts and investors see a risk that stocks could retest recent lows in the coming days or weeks as they worry about the spread of the virus and its impact on the economy, although some spot glimmers of light at the end of th... More »
(Reuters) – British aero-engine maker Rolls-Royce (RR.L) will abandon its targets on profits, cash and deliveries, and suspend its dividend, as airlines around the world ground planes due to the coronavirus outbreak, the Financial Times reported late on Sunday... More »
(Reuters) – Stelios Haji-Ioannou, the founder of easyJet Plc (EZJ.L), has warned that he will not inject any fresh equity into the airline until it terminates a contract with Airbus SE (AIR.PA) for 4.5 billion pounds ($5.50 billion), according to a letter here... More »
NEW YORK (Reuters) – Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday’s trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut p... More »
(Reuters) – Private equity firm Silver Lake Partners is preparing to seek at least $16 billion from investors for its sixth flagship buyout fund, braving the economic uncertainty of the coronavirus outbreak, according to people familiar with the matter. Invest... More »
(Reuters) – Boeing Co (BA.N) said on Sunday it would extend the suspension of production operations at its Washington state facilities until further notice amid the coronavirus outbreak. The largest U.S. planemaker said on March 23 it would halt production at ... More »
NEW YORK (Reuters) – U.S. banks are expected to defend their dividend payments when they submit their annual capital plans to the Federal Reserve on Monday for the upcoming stress tests, the Financial Times reported on Sunday, citing people familiar with the s... More »
WASHINGTON (Reuters) – A top official at the U.S. Federal Reserve said on Sunday the $2.3 trillion economic relief bill approved by Congress was appropriately sized and that a further relief effort may not be needed if support efforts are well executed. “I fel... More »
BOSTON (Reuters) – Paul Singer’s Elliott International Ltd hedge fund gained an estimated 0.1% in March and is now up 2.2% for the year through the first quarter, according to an update sent to clients on Friday and seen by Reuters. A spokesman for New York-ba... More »
CHICAGO (Reuters) – Investors in the U.S. municipal bond market are growing increasingly worried over the ability of states, cities and other debt issuers to weather the financial fallout of the COVID-19 pandemic caused by the novel coronavirus. Those concerns... More »
BOSTON (Reuters) – Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30% in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and hospital operators the firm has invested in. The... More »
PARIS (Reuters) – Airbus is studying a sharp cut in output of its top-selling A320 plane series amid an industry-wide slowdown triggered by the coronavirus crisis, sources familiar with the matter said. Europe’s leading planemaker is examining scenarios includ... More »
WASHINGTON (Reuters) – U.S. services sector activity slowed to a more than 3-1/2-year low in March, with industries reporting a moderation in new orders and decline in employment amid the coronavirus pandemic, which has brought the country to sudden stop. The ... More »
LONDON (Reuters) – Deep oil output cuts by OPEC and other producing nations would not be enough to prevent a huge build in global crude inventories in the second quarter as measures to contain the coronavirus lead to “unprecedented” demand loss, the head of th... More »
