Financial markets around the world took another hammering on Monday as a rising tide of national coronavirus lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession.
Planemaker Airbus announced new steps on Monday to bolster its financial position as a coronavirus pandemic cripples the travel industry, including the signing of a credit facility for 15 billion euros ($16.1 billion).
Hyundai Motor Group's heir apparent Euisun Chung bought shares in automaker Hyundai Motor and parts affiliate Hyundai Mobis for a combined 19 billion won ($15 million), according to stock exchange filings.
Brent crude prices extended falls on Monday amid more action by governments to contain the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a worldwide economic contraction.
Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up, as investors worried about the economic damage from the coronavirus and made a chaotic dash for the exits.
SoftBank Group Corp said on Monday it is selling or monetizing up to 4.5 trillion yen ($41 billion) in assets to buy back 2 trillion yen of its shares and reduce debt, sending its stock soaring to its biggest daily gain in nearly 12 years.
Goldman Sachs said it expected global real gross domestic product to contract by about 1% in 2020, a sharper economic decline than in the year following the 2008 global financial crisis.
Oil major Shell lowered capital expenditure for 2020 by about $5 billion on Monday and suspended the next tranche of its share buyback plan, as the company tries to weather a hit from the recent oil price crash.
Apple has dropped a two-device limit on online purchases of iPhones, a check of its web stores showed on Monday, just days after changing the checkout procedure amid a coronavirus pandemic.
A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan, not a cash payout, the proposal showed.
Walmart Inc said on Monday it has temporarily raised entry wages for workers in its e-commerce warehouses by $2, following similar moves by rivals, as it attempts to manage a shopping surge brought about by the coronavirus outbreak.
Asian shares sank on Monday as a rising tide of national lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession.
Airlines canceled more flights on Monday as Australia and New Zealand warned against non-essential domestic travel, the United Arab Emirates (UAE) halted flights for two weeks and Singapore and Taiwan banned foreign transit passengers, in the coronavirus battle.
Mondelez International Inc on Monday said it would increase hourly wage by $2 and pay a $125 weekly bonus for its sales representatives as it rushes to meet a surge in demand for its packaged food due to the coronavirus outbreak.
North American meat processors said on Monday they would pay extra money to farmers and slaughterhouse workers as the companies scramble to meet surging demand from consumers unnerved by the spread of the new coronavirus.