Borrowing costs for junk-rated European companies have nearly tripled in less than a month, and with the market for new debt issuance shuttered, there could be a lot more pain in store for firms needing to raise fresh money to redeem debt.
Boeing and Airbus face a drop in planned deliveries as airlines struggle to survive the coronavirus crisis, sending shares in planemakers plunging on Monday.
Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects costs to rise by another 4.1 billion euros, Chief Financial Officer Frank Witter said on Tuesday.
World share markets and oil prices struggled on Tuesday after coronavirus panic caused Wall Street's worst one-day rout since the Black Monday crash of 1987.
Oil prices fell below $30 per barrel on Tuesday, extending losses after shedding a tenth of their value on Monday, as the coronavirus pandemic hit demand while Saudi Arabia raised output to a record as it battles with Russia for market share.
Credit Suisse will be giving employees needing to care for children and family members affected by the coronavirus outbreak a month of paid leave through mid-April, its chairman and CEO told staff in a memo late on Monday.
Uber Technologies Inc on Tuesday began suspending shared rides on its ride-hailing platform in the United States and Canada to limit the spread of the coronavirus.
China's e-commerce company JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares as the coronavirus outbreak grows bigger.
Oil fell below $30 a barrel on Tuesday, trading close to its lowest in more than four years, as the coronavirus pandemic hit demand and Saudi Arabia raised output to a record as it battles with Russia for market share.
Trading house Glencore has chartered the 3 million barrel crude carrier 'Europe' to store oil at sea for at least 6 months, trading sources on Tuesday.
Singapore Airlines on Tuesday said it would cut capacity further as border controls are enforced across the world in a bid to curb the spread of the coronavirus epidemic.
British Airways is due to make an unspecified number of pilots redundant according to UK pilot union BALPA, as the airline seeks to reduce its costs to try survive the coronavirus crisis.
Europe's Airbus has signaled that some government support may be needed if the coronavirus crisis lasts for several months, two people familiar with the matter said.
Ventas Inc said on Tuesday it was experiencing a slowdown in move-ins at its senior housing business and withdrew its 2020 financial forecasts, as the coronavirus pandemic raises the risk of tenants moving out.
Fiat Chrysler (FCA) has resumed limited production at its Atessa facility in Italy, the automaker's only open assembly plant, having halted operations at most of its European factories, a spokesman said on Tuesday.