British low cost airline easyJet said it had grounded its entire fleet of over 330 aircraft and had no visibility on when it could restart flights, highlighting the heavy strain on airlines trying to survive to fly again after coronavirus.
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 pandemic.
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, municipalities and other borrowers with less than perfect credit.
British budget airline easyJet has grounded its fleet of 344 planes and has no clear idea when it might resume flights, it said on Monday, highlighting the strain on airlines trying to survive the coronavirus pandemic.
American Airlines Group Inc is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said.
Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months.
Goldman Sachs said on Monday it expects S&P 500 dividends to fall by 25% in 2020 as certain large dividend-paying industries are particularly vulnerable to the economic shock of the coronavirus outbreak.
American Airlines Group Inc is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said.
Virgin Atlantic has asked the UK government for emergency financial help in addition to the coronavirus package made available to all British companies, said a source familiar with the situation.
U.S. stock index futures see-sawed on Monday after a strong recovery last week, as President Donald Trump extended his stay-at-home guidelines until the end of April, raising fears of a larger economic hit from the slump in business activity.
Fiat Chrysler (FCA) is looking to resume some vehicle production from next week at three plants in Italy if it gets the green light from the government, a union representative said on Monday.
Johnson & Johnson said on Monday human testing of its experimental vaccine for the coronavirus would begin by September and that it could be available for emergency use authorization in early 2021.
Bank of New York Mellon Corp on Monday named interim head Thomas Gibbons as chief executive officer, effective immediately.
An activist investor is stepping up calls for the board of HC2 Holdings Inc to remove Chief Executive and Chairman Philip Falcone as the former hedge fund manager faces mounting legal and financial troubles.
While some of the underlying thinking behind the so-called 4% rule was prudent, it was hatched in an era in which interest rates were much higher, capital markets less volatile and, most important, Americans had shorter lifespans. Given today's market volatility and changed retirement landscape, it's safe to assume that the 4% rule may be obsolete.