American Banker | Penny Crosman | March 18, 2020 The coronavirus pandemic could be devastating for many companies, but it's also shining a spotlight on the power of fintechs. They seem to be responding to the sudden challenge, though uncertainties lie ahead. The virus-driven moratorium on travel and the trend of companies encouraging people to
U.S. stock index futures surged more than 3% on Monday, overturning early losses after the Federal Reserve took unprecedented steps to support U.S. households and companies more directly with credit as it seeks to blunt the economic damage from the coronavirus pandemic.
The bid spread of Markit high yield and investment grade credit default swap indexes - widely used as a barometer of sentiment in the two respective corporate bond markets - fell on Monday morning following the Federal Reserve's announcement that it would backstop an unprecedented range of credit.
Sweden's H&M , the world's second largest clothing retailer said on Monday it had decided to scrap its proposed dividend due to the coronavirus outbreak, and that it was reviewing all parts of its operations, including all costs.
The U.S. Federal Reserve on Monday said it would begin backstopping an unprecedented range of credit for households, small businesses and major employers in an effort to offset the "severe disruptions" to the economy caused by the coronarvirus outbreak.
A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market's wild swings subside.
Widening travel curbs to contain the spread of the coronavirus led to further flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
Ford Motor Co said on Monday it has decided to temporarily halt vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus.
Netflix said on Monday it would reduce network traffic in Israel over the next month following a government request to ease data congestion from people staying home due to the coronavirus.
The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era, according to data from Bank of America Securities.
The Dow's steep drop on Monday pushed the 30-stock index below the level where it closed on Nov. 8, 2016, the day Trump won his election.
Micky | Ali Qamar | March 21, 2020 The State of Hawaii has recently introduced a pilot program dubbed as the ‘Digital Currency Innovation Lab’ aimed at being a ‘testbed for innovation in the digital currency space.’ On March 17, Hawaii’s governor office revealed that the state’s very first state-initiated blockchain and cryptocurrency incubator is
Betakit | Meagan Simpson | March 20, 2020 A survey conducted by Toronto-based FinTech startup Lending Loop has found that Canadian small businesses have seen an average revenue decline of more than 63 percent amid the COVID-19 pandemic. Lending Loop has been collecting data over the past few days from over 100 companies on the
The U.S. Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the "severe disruptions" to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small businesses and major employers.
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.