Oil prices slumped again on Thursday amid a broader market rout after the United States banned travel from Europe following a declaration that the coronavirus outbreak is now a pandemic.
Global shares crumbled on Thursday after U.S. President Donald Trump stunned investors by announcing a temporary travel ban from Europe in an effort to curb the spread of the coronavirus, threatening more disruptions to businesses and the world economy.
Trump administration officials have postponed for a second time a critical meeting originally set for Wednesday to discuss potential new U.S. restrictions on sales of technology to Huawei and China, people familiar with the matter said.
Boeing Co is freezing new hiring and overtime except in certain critical areas to preserve cash, the U.S. planemaker's CEO said on Wednesday, as the coronavirus outbreak compounds the fallout from a year-old grounding of its money-spinning 737 MAX.
Global shares were set for a rocky ride on Thursday as investors tally the economic damage of coronavirus, a day after the U.S. Dow Jones industrials entered bear market territory and world health officials declared the virus a pandemic.
Major banks are at risk of losing billions of dollars of fee-based retail revenue as they face increased regulatory pressure and growing competition from new entrants offering no-fee services, Accenture Plc said on Wednesday.
Leading U.S. bank executives in a meeting with President Donald Trump at the White House said banks are strongly capitalized and prepared to help small businesses and American consumers weather the coronavirus outbreak.
Retailer Best Buy Co Inc said on Wednesday Executive Chairman Hubert Joly would step down and will not stand for re-election at the shareholder meeting on June 11.
Sporting goods retailer Modell's Sporting Goods filed for Chapter 11 protection in the U.S. bankruptcy court in New Jersey on Wednesday, citing a challenging retail environment.
The dollar weakened and the Dow Jones industrials entered bear market territory on Wednesday on mounting worries about the global economy after world health officials declared a coronavirus pandemic and Reuters reported a White House gag order on top-level U.S. meetings on the outbreak.
The cost to insure General Electric Co debt has shot up to levels last seen in 2018, possibly reflecting concern about the company's exposure to coronavirus-induced declines in interest rates, air travel and global growth.
Fears of a U.S. sales slowdown in auto showrooms due to the coronavirus outbreak that has spread globally are appearing in analysts' forecasts, but industry executives said the pandemic has yet to affect demand or factory production.
The U.S. banking industry is strong and ready to help businesses and consumers weather economic fallout from the fast-spreading coronavirus, Wall Street chief executives told President Donald Trump during a meeting at the White House on Wednesday.
Steven Mnuchin, Treasury Secretary, is recommending the Trump Administration give taxpayers a reprieve on the April 15 tax deadline. Want certainty? Ask for an extension if you need it.
Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices.