Latest News on private equity markets

By Barbara Goldberg, Nate Raymond, Jessica Resnick-Ault and Lucy Nicholson

Tesla Inc on Thursday ended a standoff with local California authorities concerned about the spread of the coronavirus, saying it will suspend production at its San Francisco Bay Area vehicle factory on March 24.

Japanese automakers on Wednesday said they would temporarily close more vehicle plants in Europe and Asia as the spread of the coronavirus prompts countries to instruct non-essential businesses to suspend operations.

When Treasury Secretary Steven Mnuchin made the announcement about a cash infusion to Americans on Tuesday, universal basic income proponents felt validated. Now, the group of those calling for such a policy, if only in a temporary rendition, is quickly growing.

Roughly 1 in 4 Americans say they will have trouble paying their credit card bills due to the coronavirus outbreak.

Nissan Motor Co said Wednesday it will temporarily suspend production at its U.S. manufacturing to boost containment efforts around the COVID-19 coronavirus.

General Motors Co and Ford Motor Co said on Wednesday they were in talks with White House officials about how they could support production of medical equipment like ventilators that may be needed to combat the coronavirus outbreak.

Qantas Airways Ltd said on Thursday it will halt all international flights from late March until at least the end of May and is putting two-thirds of its workforce on leave after Australia told citizens not to travel overseas due to the coronavirus.

Harley-Davidson Inc faces a battle with one of its investors after Impala Asset Management said on Wednesday it will try to install two directors at America's oldest and best-known motorcycle maker.

Airline industry turmoil deepened on Thursday as Qantas Airways Ltd told most of its 30,000 employees to take leave and India prepared a rescue package of up to $1.6 billion to aid carriers battered by coronavirus, government sources said.

Brazil has upheld proposals by Boeing Co to buy the jetmaking arm of Embraer , but plunging markets have raised urgent questions over the fate of the $4.2 billion deal as aviation reels from the coronavirus crisis.

Another day of massive swings across asset prices was marked by scant liquidity as investors dashed for cash while systematic strategies triggered automated selling amid rising volatility, market participants said.

The dollar surged, bonds plunged and global markets struggled to find their footing on Thursday as the European Central Bank's latest promise of stimulus provided only brief solace while the world struggles to contain the coronavirus pandemic.

Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession.

German fashion house Hugo Boss on Wednesday scrapped the outlook it gave for 2020 results less than two weeks ago and took action to protect its cash balance, suspending store renovations and new openings and limiting the inflow of stock.