After the Fed, the dollar may not subside
When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction.
When the U.S. Federal Reserve cut interest rates to near zero on Sunday, the dollar fell, since the move blew away the yield on owning dollars and with it much of their attraction.
Payments group Finablr on Monday expressed doubts about its ability to continue as a going concern and said its chief executive would step down.
Hong Kong's Cathay Pacific Airways Ltd on Monday said it would sell six Boeing 777-300ER aircrafts and its associated equipment for $703.8 million to BOC Aviation Ltd .
When Japanese conglomerate Marubeni booked a loss of 3.9 billion yen ($35 million) at its U.S. grain trader Gavilon in November, it blamed adjustments for "inappropriate transactions" with Italy and Spain.
The owner of British Airways and easyJet, Europe's no.3 and no.4 airlines, warned aircraft would be grounded on an unprecedented scale in a battle to survive the coronavirus, but while easyJet said state aid was needed, BA's owner talked of self-help.
Airlines made unprecedented cuts to flights, costs and staffing on Monday, and stepped up calls for emergency government aid, as coronavirus lockdowns and new travel restrictions hit more major routes.
Fiat Chrysler Automobiles (FCA) is halting production for two weeks at most of its European plants to help protect staff against the coronavirus pandemic and adjust to a slump in demand, the Italian-American carmaker said on Monday.
Wall Street looked set to crater on Monday after the Federal Reserve's aggressive move to cut interest rates to nearly zero heightened fears of the economy tipping into a coronavirus-driven recession.
France's competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behavior in its distribution network and an abuse of economic dependence on its resellers.
Ryanair said on Monday it would ground most of its aircraft in Europe over the next seven to 10 days, expects to cut seat capacity by 80% for the next two months, and could even ground its entire fleet, given travel restrictions due to the coronavirus pandemic.
Volkswagen's Autoeuropa car assembly plant near Lisbon has reduced its daily output by 16% because of a shortage of workers after Portugal ordered all schools closed amid the coronavirus outbreak, the plant said on Monday in a statement. ยด
Sanofi on Monday said its production sites were running normally in Europe and elsewhere as the coronavirus outbreak hits business activity globally, although the drugmaker has put in place contigency plans to ensure continuity.
Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers have all but dried up.
The move is the latest escalation of tactics taken by large financial firms,
The London Stock Exchange Group said on Monday it had gained approval from the U.S. Committee on Foreign Investment for its $27 billion takeover of analytics firm Refinitiv, judging there were no national security concerns with the deal.