Traders are betting the Federal Reserve will deliver another, bigger reduction in borrowing costs at its mid-March policy meeting, as worries about the spread of the new coronavirus trumped data showing robust hiring by U.S. employers last month.
U.S. employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
The number of people infected by the new coronavirus globally surpassed 100,000 on Friday, according to a Reuters tally based on statements from health ministries and government officials.
Bank of America created a list of possible recession triggers to monitor the state of the markets and the economy.
President Donald Trump said on Friday the Federal Reserve should cut U.S. interest rates and stimulate the economy, three days after the central bank slashed interest rates by half a percentage point in an emergency bid to blunt the economic effects of the coronavirus.
European Union officials are considering temporary suspensions of rules on state subsidies and EU loans to economic sectors hit hardest by the coronavirus outbreak, an official said on Friday.
The Trump administration is considering steps to stimulate the U.S. economy amid the coronavirus outbreak, but would prefer targeted action, White House economic adviser Larry Kudlow said on Friday, adding that more information was needed.
"It's fake! It's fake!" residents high up in an apartment complex in the central Chinese city of Wuhan shouted down as a senior government official led an inspection tour below of how people were coping during the coronavirus lockdown.
OPEC and non-OPEC oil producers have failed to agree a roll over of existing output cuts, two OPEC sources told Reuters.
India laid out a rescue plan for Yes Bank on Friday under which State Bank of India will take a 49% stake in the troubled lender, which is struggling with bad loans.
New rules proposed by the SEC this week represent a major step forward in the Regulation Crowdfunding space. Continue reading
A three-year honeymoon between OPEC and Russia descended into acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavirus and OPEC responded by removing all limits on its own production.
Saudi Arabia's energy minister said on Friday he would "keep you wondering" when asked if the kingdom could raise oil production after the collapse of an OPEC+ deal on output restraint.
JP Morgan Chase & Co CEO and Chairman Jamie Dimon has spoken to senior colleagues and 'feels really good' after undergoing heart surgery, the Financial Times reported https://www.ft.com/content/55538a00-5f3b-11ea-8033-fa40a0d65a98 on Friday, citing people familiar with the matter.
Tesla Inc has advertised for solar and energy storage project managers in China, as the U.S. electric vehicle maker moves to expand its energy business into the country.