The dollar rose against the yen on Tuesday as Japanese investors and companies rushed to cover a shortage of the U.S. currency before their fiscal year end, but sentiment remained fragile as the global coronavirus crisis showed no signs of abating.
Asian share markets managed a tentative rally on Tuesday after European and U.S. equities stabilized, though buying for month and quarter-end book balancing likely flattered the gains.
Samsung Electronics Co Ltd said on Tuesday that one of its chip factory workers in South Korea had tested positive for coronavirus, but its output has not been affected.
A bipartisan group of 19 U.S. senators urged the Trump administration to push back the planned June 1 start date for the new U.S.-Mexico-Canada trade pact, saying the short lead time would add to pressures on U.S. companies due to the spread of the coronavirus.
Major global airlines projected layoffs, furloughs and capacity cuts over the next few months, with Air New Zealand on Tuesday warning it expected staffing levels to be 30% lower than it is now, due to the coronavirus pandemic.
Activist investor Starboard Value LP has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it purchased them.
American Airlines Holdings Inc intends to apply for up to $12 billion in government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday.
Warehouse, delivery and retail gig workers in the United States went on strike on Monday to call attention to safety and wage concerns for people laboring through the coronavirus crisis.
Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.
Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure as foreign demand slumps.
The dollar rose against the yen on Tuesday as Japanese investors and companies rushed to cover a shortage of the U.S. currency before their fiscal year end, but sentiment remained fragile as the global coronavirus crisis showed no signs of abating.
Yum Brands Inc , owner of Pizza Hut, KFC and Taco Bell restaurant chains, sold $600 million in bonds on Monday, reopening the U.S. market for junk-rated debt issues after its longest lull since the 2008 financial crisis.
Virgin Australia Holdings Ltd said on Tuesday it is seeking a government loan of A$1.4 billion ($862.68 million) and exploring other options to get through the coronavirus crisis.
The U.S. Air Force announced on Monday an additional deficiency in the KC-46 Pegasus aerial fuel system built by Boeing , classifying it at the Category I level, meaning it is a major technical issue that may endanger the aircrew and aircraft.
Amazon.com Inc's Fulfillment by Amazon (FBA) service will waive two weeks of storage fees in March, according to an email seen by Reuters.