The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.
The Federal Reserve's unprecedented stimulus measures did little to brighten Wall Street's immediate outlook on coronavirus-ravaged stocks, as concerns remained about the lack of a government stimulus package and the ability to contain the pandemic.
U.S. businesses expect a "very large and very negative impact" from the coronavirus pandemic and efforts to slow its spread, according to a survey published on Monday by the Atlanta Federal Reserve Bank.
Some U.S. banks on Monday offered employees one-time bonuses to help ease the financial burden of the coronavirus pandemic and as a reward for working through the crisis.
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.
Major automakers, parts suppliers and auto dealers urged U.S. lawmakers on Monday to provide "robust credit facilities" to ensure "sufficient liquidity" in the auto industry despite the coronavirus outbreak.
Widening travel curbs to contain the spread of the coronavirus prompted more flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
U.S. trade regulators have approved Apple Inc's request to waive tariffs on China-made Apple Watches, the Office of the United States Trade Representative said in a letter dated Friday.
Democrats unveiled a plan on Monday to forgive $30,000 in student debt for borrowers amid the coronavirus outbreak. Proposals like this one are mounting.
Liquidity at a $2.2 billion prime money-market fund run by Northern Trust Corp fell below the key 30% U.S. regulatory threshold twice last week, but rebounded above that level after the U.S. Federal Reserve shored up the industry.
Nordstrom Inc said on Monday it would suspend its quarterly cash dividend and share repurchases as it looks to weather the impact from the coronavirus pandemic.
Auto retailers have been slow to embrace e-commerce, but the coronavirus pandemic is changing that.
The Federal Reserve's unparalleled steps to directly backstop the U.S. economy and its willingness to purchase vast sums of U.S. government debt, mortgage-backed securities and even corporate bonds could help boost depleted liquidity in the $17-trillion Treasury market.
Wall Street's slide deepened on Monday as an unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy proved insufficient to sooth investors' fears about the swiftly-spreading coronavirus.
At Lazada, the Southeast Asian arm of Alibaba Group Holding, staff are furious over demands they submit health reports daily and other coronavirus-prevention steps seen as too invasive, highlighting a long-running culture clash with management from China.