Trump, business leaders comment on Jack Welch's death
Jack Welch, the legendary CEO who led General Electric Co for two decades to create the most valuable public company in the United States, died at the age of 84.
Jack Welch, the legendary CEO who led General Electric Co for two decades to create the most valuable public company in the United States, died at the age of 84.
Global factories took a beating in February from the coronavirus outbreak, with activity in China shrinking at a record pace, surveys showed on Monday, raising the prospect of a coordinated policy response by central banks to prevent a global recession.
British Airways on Monday said it was cancelling some flights from London to the United States to match reduced demand for flying due to the impact of a new coronavirus on consumer sentiment.
The International Monetary Fund and the World Bank on Monday said they stood ready to help member countries address the human and economic challenges of the fast-spreading coronavirus outbreak, including through emergency funding.
U.S. stock indexes rose on Monday, recovering from steep declines amid a spell of bargain hunting, while investors hoped that monetary stimulus from central banks would help tide over the potential economic impact of the coronavirus.
G7 finance ministers are expected to hold a conference call on Tuesday to discuss measures to deal with the economic impact of the coronavirus outbreak, three sources told Reuters.
The coronavirus outbreak is plunging the world economy into its worst downturn since the global financial crisis, the Organisation for Economic Cooperation and Development warned on Monday, urging governments and central banks to fight back to avoid an even steeper slump.
U.S. stock indexes rose sharply on Monday, prompted by bargain hunting and on reassurances by central banks that they stood ready to counter any economic impact from the coronavirus.
UBS Group Chief Executive Sergio Ermotti is poised to become chairman of Swiss Re next year after leaving the helm of Switzerland's biggest bank, three people familiar with the matter told Reuters.
Oil prices rose over 5% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
British trade minister Liz Truss said she wanted with the United States to agree to the removal of retaliatory tariffs on some British and U.S. products over EU subsidies on large aircraft early in trade negotiations to show goodwill.
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Shares in Apple surged 6.9% on Monday, helped by a broad Wall Street rebound and an upgraded rating from an analyst who said the iPhone maker's stock had become oversold following last week's rout related to fears about the new coronavirus.
The U.S. central bank will deliver a big dose of stimulus starting this month in a bid to protect the world's biggest economy from the impact of the coronavirus, traders of futures contracts tied to Federal Reserve policy are betting.
Ryanair will cut capacity in and out of Italy, its largest market, by 25% for three weeks due to a significant drop off in bookings since a coronavirus outbreak, Europe's biggest low-cost airline said on Monday.