ROME (Reuters) – Italy’s coronavirus death toll is much higher than reported, statistics bureau ISTAT said on Monday in an analysis pointing to thousands of fatalities that have never been officially attributed to COVID-19. In its first report of the epidemic’... More »
(Reuters) – Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway (BRKa.N) offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry. U.S. airline... More »
OSLO (Reuters) – Norwegian Air (NWC.OL) shareholders backed its financial survival plan on Monday, with more than 95% of votes cast supporting the conversion of nearly $1 billion of debt into equity and raising more cash from its owners. The approval follows w... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Friday he would like to address the ballooning national debt if he wins re-election in November, but did not provide details on how he would do so. Asked if he had a debt reduction plan, Trump told con... 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 »
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 »
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 »
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 »
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) – 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 »
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 »
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 »
WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi said on Monday Republican and Democratic negotiators have come to terms on the “principles” of the next coronavirus relief package, which is expected to focus on more aid for small businesses and be taken ... More »
FRANKFURT (Reuters) – Italian Prime Minister Guiseppe Conte has repeated calls for the European Union to issue common euro zone bonds to demonstrate the bloc’s solidarity in tackling the coronavirus crisis. Conte said in an interview to be published in Germany... More »
(Reuters) – AMC Entertainment Holdings Inc (AMC.N), the world’s largest movie theater operator, said on Friday it has enough cash to withstand a global suspension of operations until a possible partial reopening of its locations in July. The company said it wa... 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 »
WASHINGTON (Reuters) – Congressional leaders and U.S. Treasury Secretary Steven Mnuchin will hold bipartisan negotiations on the contents of a new coronavirus response bill with the goal of reaching a deal by early next week, Senate Democratic Leader Chuck Sch... 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 »
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 »
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) – 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) – 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 »
DUBAI (Reuters) – United Arab Emirates agriculture technology start-up Pure Harvest Smart Farms has raised $20.6 million in fresh funding and secured commitments for a further $100 million, it said on Monday. Wafra International, an investment firm owned by th... 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 »
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 »
CARACAS (Reuters) – A price war between world oil producers has slashed Venezuela’s revenue for its top export and exacerbated the country’s financial crisis as it also faces the coronavirus pandemic, U.S. sanctions and sliding crude output. More than 90% of V... More »
NEW YORK (Reuters) – Global stock markets sank Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply. Investors sought out safe havens in the ... More »
RIYADH (Reuters) – Saudi Arabia’s King Salman has ordered up to 9 billion riyals ($2.4 billion) to be disbursed to pay part of the wages of private-sector workers to deter companies from laying off staff, the state-run Saudi Press Agency reported on Friday. Th... More »
WASHINGTON (Reuters) – The White House is expected to issue guidance for people in areas hard hit by the coronavirus to wear face coverings to help stop the spread of the disease, an administration official said on Thursday. The announcement was not planned fo... More »
WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said on Thursday she will form a bipartisan select committee on the coronavirus crisis to oversee the spending of $2.3 trillion that Congress has approved to respond to the pandemic. In ... More »
BOSTON (Reuters) – Multi-strategy hedge funds – those that bet on a broad array of markets using teams of traders, leverage and centralized risk management – have flourished as stocks ended their worst three months since the 2008 financial crisis. Balyasny Ass... More »
BRUSSELS (Reuters) – With the euro zone economy in need of help from the coronavirus pandemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely agai... More »
(Reuters) – Bond investor and DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday he believes the coronavirus sell-off is not over yet and that the lows stocks hit in March will be surpassed in April due to uncertainty over the outbreak. “I thi... More »
WASHINGTON (Reuters) – The International Monetary Fund said on Monday the relaxation of the euro zone’s fiscal rules and support from the European Central Bank and the European Stability Mechanism is critical to a strong regional response to the coronavirus pa... More »
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 »
SHANGHAI (Reuters) – China’s central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities ramped up steps to relieve pressure on an economy ravaged by the coronavirus pan... More »
BOSTON/WASHINGTON (Reuters) – The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, ... More »
WASHINGTON (Reuters) – Major U.S. airlines asked the U.S. Treasury to move quickly to release up to $58 billion in government grants and loans and recommended a formula to divide up the money. In a letter dated Saturday and seen by Reuters, carriers wrote that... More »
WARSAW (Reuters) – The main Polish opposition candidate running for president called on Sunday for a boycott of the country’s May election due to the coronavirus and completely suspended her campaign, adding to doubts about whether the vote will go ahead as pl... More »
(Reuters) – A massive federal spending bill aimed at deflecting the economic harm caused by the spreading coronavirus does not address the billions of tax dollars U.S. states stand to lose as major parts of the nation have shut down. While the $2.2 trillion bi... More »
BOSTON (Reuters) – After years of waiting and watching from afar, hedge fund Fir Tree Partners is spending $410 million from its dislocation funds on stocks, pockets of the credit market and other securities, sure the historic market sell-off made new bargains... More »
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 »
BRUSSELS/FRANKFURT (Reuters) – European Central Bank chief Christine Lagarde asked euro zone finance ministers during a videoconference on Tuesday evening to seriously consider a one-off joint debt issue of “coronabonds” to help fight the coronavirus pandemic,... More »
WASHINGTON (Reuters) – With the coronavirus pandemic in the United States intensifying, Senate Democrats and Republicans will scramble on Monday to come to an agreement on a far-reaching $1 trillion-plus coronavirus stimulus package after a procedural vote to ... More »
LONDON (Reuters) – Blackrock (BLK.N), the world’s largest asset manager, will freeze global hiring for a few weeks, according to a source familiar with the situation. As the deadly coronavirus swept across the global economy, killing thousands of people, compa... More »
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 »
BRUSSELS (Reuters) – The European Commission supports all tools that would help mitigate the negative impact of the coronavirus epidemic on the EU economy, the EU executive arm said on Friday when asked about discussions to deploy the euro zone bailout fund to... More »
FRANKFURT (Reuters) – Euro zone governments should “get their acts together” and respond to the coronavirus pandemic and its economic fallout in a bold and coordinated way now that the ECB has secured cheap financing for it, two ECB rate-setters said on Friday... More »
LONDON (Reuters) – Britain has asked 65,000 former nurses and doctors to return to work and will deploy final-year medical students to fight the coronavirus health crisis, the health ministry said. As the coronavirus outbreak sweeps across the world, governmen... More »
BOSTON (Reuters) – U.S. prime money-market funds have lost more than 10% of their assets and the prospect of funds slowing customer redemptions is rising amid unprecedented market turmoil, top credit-rating agency Moody’s Corp said on Thursday. “The risk of fu... More »
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 »
PARIS (Reuters) – The European Central Bank’s new bond purchase scheme will help reduce the risk of fragmentation between euro zone states, France’s finance minister said on Thursday. “The plan that the European Central Bank announced is the right one,” Bruno ... More »
LONDON (Reuters) – Borrowing costs in the United States, euro zone, Britain and Japan surged on Wednesday after two days in which governments across the globe announced trillions of dollars of spending to support locked-down economies frozen by the coronavirus... More »
BERLIN (Reuters) – Germany’s southern state of Bavaria on Monday announced a fund worth up to 10 billion euros ($11.21 billion) to help the region withstand the coronavirus outbreak, its premier said, declaring a state of emergency as the number of new cases c... More »
TEL AVIV (Reuters) – Israel’s shekel ILS= slid another 2.5% versus the dollar on Monday to a 15-month low to bring losses to more than 8% so far this month, while share prices continued to tumble in Tel Aviv in the wake of the global coronavirus outbreak. The ... More »
TOKYO (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 epi... More »
BERLIN (Reuters) – The German economy ministry said it no longer expected an economic upswing in the first quarter because of the impact of the coronavirus on growth, with the economy unlikely to stabilize before the third quarter at the earliest. The economy ... More »
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 »
SYDNEY (Reuters) – Australia is considering a second round of economic stimulus, three sources familiar with the deliberations told Reuters, as Canberra accelerated efforts to contain the spread of the coronavirus that has now killed five people in the country... More »
(Reuters) – The Federal Reserve unexpectedly cut interest rates on Sunday for the second time in less than two weeks, an emergency move to help shore up the U.S. economy as a coronavirus pandemic spreads worldwide. In a statement, the central bank said it was ... More »
BERLIN (Reuters) – Germany must do all it can to avoid an economic crisis over the coronavirus and should emulate an ex-European Central Bank president who was key in containing the euro zone debt crisis, a senior ally of Chancellor Angela Merkel said on Thurs... More »
(Reuters) – William Ackman’s publicly traded hedge fund gained nearly 3% this year, though the billionaire investor warned of volatility ahead as world markets reel under the economic hit from the coronavirus epidemic. Pershing Square Holdings Ltd on Monday sa... More »
LONDON (Reuters) – Investors pulled out of most asset classes, with stocks and bond funds seeing a combined $36 billion of outflows in the week to Wednesday, BofA said, amid fears of economic damage from the coronavirus epidemic. Stock markets have been sellin... More »
BOGOTA (Reuters) – Private investment funds operating in Colombia have around $5 billion available to invest in projects in the Andean country, the investors’ guild president said Thursday. Private investment funds have managed around $16.8 billion in mainly i... More »
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 »
LONDON (Reuters) – The Bank of England said it was working with Britain’s finance ministry and international partners to protect the banking system and Britain’s economy from the impact of the spread of coronavirus. Investors globally have priced in more stimu... More »
BEIJING/SHANGHAI (Reuters) – Shares in HNA Group-controlled companies rose on Monday after the Chinese aviation and tourism conglomerate said it had asked the government to help it resolve liquidity risk caused by the coronavirus outbreak which has put heavy p... More »
SEOUL (Reuters) – South Korea reported 123 new coronavirus cases, taking the country’s total infections to 4,335, the Yonhap news agency said, citing health authorities. The updated numbers added to the 476 recorded earlier by the Korea Centers for Disease Con... More »
MIDDLESBROUGH, England (Reuters) – Looming over the skyline of Teesside in northeast England stands the rusting hulk of what used to be Europe’s largest blast furnace, which shut in 2015 with the loss of more than 2,200 jobs. Attempts to bring investment and e... More »
NEW YORK (Reuters) – The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict. Wall Street strategists have been slashing forecasts as the impact from the virus is set to be felt far further than the first quart... More »
SYDNEY (Reuters) – Australian health officials said on Monday that a woman and a male doctor have contracted coronavirus – becoming the first cases of community transmissions in the country. New South Wales state Minister for Health Brad Hazzard said a 31-year... More »
BRUSSELS (Reuters) – Italy and other euro zone countries hit by the coronavirus outbreak are expected to benefit from waivers under EU fiscal rules that will allow them to spend more to tackle the emergency, the bloc’s economics commissioner said on Wednesday.... More »
NEW YORK (Reuters) – Some asset prices are moving together in unusual ways, an indication that investors may be preparing their portfolios for a coronavirus-led global slowdown. U.S. stocks, gold, Treasuries and the dollar have all surged in 2020, a climb that... More »
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants such as Google (GOOGL.O), Amazon (AMZN.O) or Facebook (FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on S... More »
RIYADH (Reuters) – Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), G20 officials said on Saturday. The Organisation for Economic Cooperat... More »
(Reuters) – U.S. equity funds saw outflows of $2.6 billion in the latest week, according to Lipper. U.S.-based taxable bond funds attracted $7.9 billion in the week ended on Wednesday, the seventh straight weekly inflow, and money market funds gained $6.3 bill... More »
NEW YORK, Feb 19 (Reuters) – U.S. money market fund assets decreased by $3.64 billion to $3.575 trillion in the week ended Feb 18, the Money Fund Report said on Wednesday. Taxable money market fund assets decreased by $2.80 billion to $3.440 trillion, while ta... More »
LONDON (Reuters) – Britain does not need any special arrangements in its future relationship with the European Union, Prime Minister Boris Johnson’s spokesman said on Monday, adding that it wants a trade agreement similar to other deals the EU has struck. Prim... More »
FRANKFURT (Reuters) – German economic growth will remain weak in the first quarter of 2020, weighed down by weak exports and the coronavirus outbreak in China, the Bundesbank said in a regular economic report on Monday. Europe’s largest economy stagnated in th... More »
(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 »
SYDNEY (Reuters) – Australia will evacuate more than 200 of its citizens onboard a coronavirus-stricken cruise ship being held under quarantine in the Japanese port of Yokohama, Prime Minister Scott Morrison said on Monday. Morrison said the passengers will de... More »
NEW DELHI (Reuters) – Beleaguered Indian wireless carrier Vodafone Idea (VODA.NS) will pay 35 billion rupees ($490 million) in telecoms dues to the federal government by Feb. 21, a lawyer for the company said on Monday. Hopes that Vodafone Idea could outlive t... More »
BRUSSELS (Reuters) – Euro zone economic growth slowed as expected in the last three months of 2019 as gross domestic product shrank in France and Italy against the previous quarter, but employment growth picked up more than expected, official estimates showed ... More »
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 »
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 »
WASHINGTON (Reuters) – U.S. President Donald Trump will propose on Monday a 21% cut in foreign aid and slashes to social safety-net programs in his $4.8 trillion budget proposal for fiscal 2021, according to senior administration officials. The budget would sp... More »
DUBLIN (Reuters) – Nine years after a devastating crash in property prices catapulted the party of Irish Prime Minister Leo Varadkar to power, a housing market recovery too rapid for many threatens to dump it into opposition at this week’s general election. Th... More »
NEW YORK(Reuters) – Allen Lomax knows how retirement is supposed to go: By your golden years, you should have paid off your house, built up a big pot of savings, and be able to face the years ahead without fear. The future is not quite shaping up like that for... More »
LONDON (Reuters) – Sovereign wealth funds’ investment moves are becoming more closely aligned with the global asset management industry as they mature, and their growing size makes it harder for them to make contrarian bets, a report showed. But the move to mo... More »
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 »
CARACAS (Reuters) – Venezuela’s state-run oil company PDVSA said its financial debt fell less than 0.1% in 2019 from the prior year to some $34.5 billion, though it remained in default on its bonds as sanctions freeze it out of the global banking system. PDVSA... More »
BEIJING (Reuters) – Chinese tech giant Tencent Holdings said it will step up its investment overseas and in industries such as “smart retail”, having already invested in more than 800 companies. Those firms include 70 listed companies and over 160 are valued a... More »
LONDON (Reuters) – British Prime Minister Boris Johnson said he wants to lose weight in 2020, but will not do “Veganuary” – the popular practice of becoming vegan in January – as it would take too much concentration and mean giving up cheese. “I had thought of... More »
BEIJING (Reuters) – Chinese firms implemented 1.4 trillion yuan ($203 billion) in debt-to-equity swaps and disposed of 2 trillion yuan in soured debt last year as they moved to allay financial risk, the country’s banking and insurance regulator said on Monday.... More »
LONDON (Reuters) – World stock markets ticked higher on Monday, hovering just below record levels ahead of the expected signing of a Phase 1 China-U.S. trade deal, although markets have yet to see details of the agreement. After Asian shares touched 19-month h... More »
