Virgin Australia Holdings Ltd said on Wednesday it would suspend all international flying from March 30 to June 14 and cut its domestic capacity in half because of government travel restrictions and lower demand because of the coronavirus.
U.S. Treasury Secretary Steven Mnuchin on Tuesday said he approved the creation of a new primary dealer credit facility to ease credit market disruptions caused by the coronavirus epidemic, resurrecting the second 2008 financial crisis-era backstop in less than a day.
Gold, the dollar and global equity markets rose on Tuesday after the Federal Reserve said it would buy short-term corporate debt directly from companies to help relieve credit markets under strain from the economic impact of the coronavirus epidemic.
The U.S. Federal Reserve moved Tuesday to ensure the flow of credit to U.S. companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the coronavirus crisis.
Credit Suisse sharply lowered its forecast for Mexican economic growth this year and now expects a 4.0% contraction, citing "significant downside risks," according to a note sent to the bank's clients on Tuesday.
The S&P 500 rose 6% on Tuesday, clawing back a significant portion of Monday's steep losses, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The U.S. Federal Reserve on Tuesday acted to ensure companies can continue paying workers and buying supplies through the coronavirus epidemic, as top officials scrambled through the day to broaden efforts to blunt the economic fallout from the health crisis.
Federal Reserve officials are deliberating over next steps in their response to the fallout from the coronavirus epidemic, with some urging a broad debate about how the central bank might help small and medium-sized businesses, policymakers said on Tuesday.
U.S. House Speaker Nancy Pelosi told the CEOs of U.S. airlines on Tuesday that Democrats agree on the need for "big immediate action" to boost the sagging U.S. aviation industry but have not reached agreement on what a bailout would look like.
Miners shuttered or wound down operations in Peru on Tuesday and were girding for extended supply chain disruptions in neighboring Chile as governments tightened restrictions to try to slow the spread of the coronavirus in the resource-rich region.
SoftBank Group Corp is backing away from part of its planned bailout of WeWork, due to several regulatory investigations of the office sharing company, the Wall Street Journal reported https://www.wsj.com/articles/softbank-backs-away-from-part-of-planned-wework-bailout-11584479235?mod=searchresults&page=1&pos=2 on Tuesday, citing people familiar with the matter.
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the "significant impact" of coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
The S&P 500 rose 6% on Tuesday, recouping half of the previous session's historic sell-off, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The World Bank on Tuesday said it had increased to $14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding $2 billion to an initial package announced on March 3.