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-
Airbus says plants to reopen at slower production rate
Airbusconfirmed on Sunday it would resume only partial aircraft production when its French and Spanish factories reopen on Monday after a four-down shutdown to tackle health concerns over the coronavirus.Some French labour unions said on Saturday it had been decided that production would resume at a slower than normal rate.France and Spain host some Airbus civil and military assembly lines and manufacture parts needed to preserve Airbus operations in other countries, mainly in the UK and Germany -
Oil markets slump amid coronavirus chaos
Oil prices fell on Monday as governments escalated lockdowns to curb the spread of the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a global economic contraction.Brent crudefutures fell $1.09, or 4%, to $25.89 a barrel by 0209 GMT.West Texas Intermediate (WTI) crudefutures was down 15 cents, or 0.7%, at $22.48 a barrel. -
Oil falls more than $1 as coronavirus spreads
Oil prices fell more than $1 a barrel at the start of the trading session on Sunday, as more governments ordered lockdowns to curb the spread of the global coronavirus pandemic that has slashed the demand outlook for crude.Brent crudefutures fell $1.84, or 6.8%, to $25.14 a barrel by 2215 GMT.West Texas Intermediate (WTI) crudefutures fell $1.26, or 5.6%, to $21.37 a barrel. -
Brent crude extends fall as coronavirus shutdowns sap demand
Brent crude prices extended falls on Monday amid more action by governments to contain the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a worldwide economic contraction.Brent crudefutures fell 65 cents, or 2.4%, to $26.33 a barrel by 0328 GMT.West Texas Intermediate (WTI) crudefutures were up 29 cents, or 1.3%, at $22.92 a barrel, having fallen 2 percentage points more than Brent this year. -
Virgin Australia plans to cut more domestic flights as travel restrictions tighten
Virgin Australia Holdings Ltdsaid on Monday it expected to make a material reduction in its domestic capacity after the Australian government advised against non-essential domestic travel and some states tightened travel restrictions because of the coronavirus.Australia's No. 2 airline said more information would be provided in the coming days.Virgin said last week it would ground all international flights and cut its domestic capacity in half as travel demand plunges due to the coronavirus outb -
McDonald's to temporarily close all UK, Ireland restaurants amid coronavirus outbreak
"We have taken the difficult decision to close all McDonald's restaurants in UK and Ireland by 7pm on Monday 23rd March at the latest", the company said in a tweet.Restaurants have been forced to shut doors or limit service to delivery and takeaway in many parts of the world in efforts to curb the spread of the highly contagious coronavirus.In China, the epicentre of the virus, McDonald's has reopened 95% of its restaurants, Chief Executive Officer Chris Kempczinski said on Friday. -
McDonald’s to close all restaurants from Monday amid coronavirus outbreak
The fast-food chain said the decision was made to protect the safety of its employees and customers. -
Gilead shifting access to potential coronavirus drug to clinical trials
Gilead Sciences Incsaid on Sunday it was temporarily putting emergency access to its experimental coronavirus drug remdesivir on hold due to overwhelming demand and that it wanted most people receiving the drug to participate in a clinical trial to prove if it is safe and effective.It was shifting from a system of individual compassionate-use requests to expanded access programs, which it expects will start in a similar time frame that new requests for compassionate use would have been processed -
Gilead puts emergency access to experimental coronavirus drug on hold amid surging demand
Gilead Sciences Incsaid on Sunday it was temporarily putting new emergency access to its experimental coronavirus drug remdesivir on hold due to overwhelming demand and that it wanted most people receiving the drug to participate in a clinical trial to prove if it is safe and effective.The spread of the virus in Europe and the United States has "flooded an emergency treatment access system that was set up for very limited access to investigational medicines and never intended for use in response -
Virgin companies to invest $250 million to save jobs after virus outbreak - Branson
"Because many of our businesses are in industries like travel, leisure and wellness, they are in a massive battle to survive and save jobs", Branson wrote in a blog.Virgin companies employ more than 70,000 people across 35 countries.Branson had told Reuters late last month that the new Virgin cruise line would overcome coronavirus fears, but the outbreak has since spread to more places and has jolted markets and industries across the world. -
World Bank moving forward on first $1.7 billion in pandemic aid projects
The World Bank's executive board is expected to consider later this week the first fast-track funds to help Afghanistan and Ethiopia respond to the coronavirus pandemic, the Bank's president said on Sunday.In a blog posted on LinkedIn on Sunday, David Malpass said funding for the projects could come out of a $14 billion Fast Track Facility (FTF) approved last week to help countries deal with the health and economic impact of the coronavirus.The respiratory disease has infected more than 305,000 -
French fashion labels Saint Laurent, Balenciaga to make coronavirus face masks
High-end fashion labels Saint Laurent and Balenciaga will start making face masks to ease shortages during the coronavirus crisis, their French parent group Kering said on Sunday.Dwindling stocks of protective gear across France have angered doctors and prompted police unions to threaten to walk off the job- complaints echoed in Spain and Italy.Paris-based Kering , which also owns Italian brand Gucci, said Saint Laurent and Balenciaga would start manufacturing the gear in their workshops as soon -
Equinor suspends share buybacks due virus outbreak, oil crash
Norway's Equinorsuspended its share buyback programme amid the coronavirus outbreak and the crash in oil prices, the company said on Sunday."Equinor is under the current market conditions suspending buy-back under the share buy-back programme until further notice," it said in a statement.Equinor also said it was implementing measures to reduce operating costs, capital expenditure and exploration spending. -
Equinor suspends $5 bln share buyback due virus outbreak, oil crash
Norway's Equinorhas suspended its ongoing $5 billion share buyback programme due to the coronavirus outbreak and the crash in oil prices, the company said on Sunday."Equinor is under the current market conditions suspending buy-back under the share buy-back programme until further notice," it said in a statement."An updated outlook is expected to be presented to the market by the end of March 2020," Equinor said on Sunday. -
Pets at Home under fire for coronavirus key worker claim for staff
Pets at Home under fire for coronavirus key worker claim for staff. Retailer drafts letter allowing employees to apply for emergency school childcare -
Cummings role under scrutiny over coronavirus policy
Cobra scepticism and antipathy towards draconian measures help explain gradualist response -
Coronavirus: Primark joins retail giants closing high street stores
Primark announced it will close all 189 of its stores as retailers across the UK began locking down in an attempt to slow the spread of coronavirus.The fast-fashion business said the measure would affect some 37,000 staff but committed to paying employees their contracted hours for the next 14 days. -
Senate GOP coronavirus bill aids U.S. transit, airports but loans not cash for airlines
WASHINGTON/CHICAGO (Reuters) - A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan not a cash payout, according to a copy of the proposal seen by Reuters.The nearly 600-page proposal would set aside in grants $10 billion for grants to airports, $20 billion for transit systems and about $1 billion for Amtrak.Amtrak and transit systems have warned o -
Senate GOP coronavirus bill aides U.S. transit, airports but loans not cash for airlines
WASHINGTON/CHICAGO (Reuters) - A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan not a cash payout, according to a copy of the proposal seen by Reuters.The nearly 600-page proposal would set aside in grants $10 billion for grants to airports, $20 billion for transit systems and about $1 billion for Amtrak.Amtrak and transit systems have warned o -
Wall Street stares down another bleak week, with coronavirus risks amplified
Wall Street analysts and investment managers expect another rough week for U.S. markets due to coronavirus fears, with a wild open for futures on Sunday evening as lawmakers battled over an economic aid package in Washington.Despite the historic plunge in share prices over the past few weeks, it is difficult to predict a bottom, Wall Street analysts and investment managers said."We need to get some stabilization in news flow before the markets turn," said Carol Schleif, deputy chief investment o -
Wall Street braces for another bleak week, with coronavirus risks amplified
Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in major cities and lawmakers continue to battle over an economic aid package in Washington.U.S. stocks have already fallen more than 30% from their mid-February peak as the pandemic has spread, with even the safest areas of the bond market experiencing liquidity stress in a market rout not seen since the 2008 financial crisis."This is a biological event," said Nela R -
Siri will now help users check if they have coronavirus – but only in the US
gmail.comApple has given Siri the power to help people determine whether they have Covid-19 – but only in the US. The smartphone giant has loaded its flagship voice assistant with information from US officials allowing it to advise people on their symptoms, offer isolation tips and direct them to telehealth apps. Inquiries such as “hey Siri, do I have coronavirus?” will prompt a medical questionnaire and advice to call the emergency services if symptoms are serious enough. But -
Primark to shut all 189 UK stores from Sunday evening
Some 37,000 employees will be affected by the closures but will be provided with full pay for 14 days, the company has confirmed. -
Private sector resources bring welcome relief for NHS
Deal will add beds and staff but unlikely to boost intensive care facilities immediately -
Occidental nears deal with activist Icahn on proxy battle - source
The agreement could put an end to a bitter fight over Occidental's ill-timed purchase of rival Anadarko Petroleum last year, a bet on the continued growth of U.S. shale.After closing that deal, the market turned against Occidental, with oil prices diving more than 60% this year as the global coronavirus outbreak cut oil demand and OPEC and Russia launched an oil-price war.If the settlement talks conclude successfully, Icahn associates Andrew Langham and Nicholas Graziano would get board seats, a -
Coronavirus: Primark closing all stores but will pay staff wages
“With the health and welfare of our employees and customers at the front of our minds we have made the decision to close our stores in the UK, until further notice." -
Coronavirus: Merkel goes into quarantine as Germany imposes extreme restrictions on public
The chancellor will be tested in the next few days. -
LA Clippers owner Steve Ballmer donates $1 million to mitigate coronavirus damages
via ibtimes.co.ukWith schools closed, teachers and staff assigned to the Los Angeles school districts are assisting other efforts in the pandemic. -
Half of NBA and NHL coronavirus cases are linked to the Staples Center
via ibtimes.co.ukAt least eight athletes who played at the venue were diagnosed with COVID-19. -
Carmakers dust off Brexit plans to deal with factory shutdowns
Groups restore emergency measures drawn up to cope with UK’s EU departure -
More coronavirus deaths in Wales and Scotland
The total number of coronavirus-related deaths has risen to 10 in Scotland and 12 in Wales. -
Primark to close all stores and pay staff wages for at least next 14 days
Major high street retailer Primark will close all 189 of its UK stores, affecting some 37,000 people.The retailer is one of a number of chains to close due to coronavirus. -
Factory and shop closures 'will push UK into deep recession'
Factory and shop closures 'will push UK into deep recession'. KPMG study finds GDP has already stalled as firms shut doors amid coronavirus crisis -
Emirates to cut number of passenger flight destinations to 13
The Dubai-based carrier said it will continue to fly to the UK, US, Japan, Australia and Canada. -
Is now the time to be greedy when buying these FTSE 100 stocks?
Is now the time to follow Warren Buffett's advice, and to be greedy? If you think so, look at these FTSE 100 stocks!The post Is now the time to be greedy when buying these FTSE 100 stocks? appeared first on The Motley Fool UK. -
H&M lines up supply chain to deliver protective gear to hospitals
Sweden's H&M , the world's second-biggest fashion retailer, said on Sunday it would use its vast supply network to source personal protective equipment for hospitals in the European Union to help curb the spread of the coronavirus.H&M said it had offered the EU its help and was now trying to understand which needs were most urgent while working out what its supply chain could deliver."The EU has asked us to share our purchasing operations and logistics capabilities in order to source sup -
In the market crash, I’d consider investing in these FTSE 100 stocks!
In the past three months, the FTSE 100 has fallen by 30% Here's what I would do now.The post In the market crash, I’d consider investing in these FTSE 100 stocks! appeared first on The Motley Fool UK. -
NBA commissioner Adam Silver talks about the future of the 2019-2020 season
via ibtimes.co.ukSo far, at least 14 NBA players are known to have COVID-19. -
Emirates to cancel majority of passenger flights and cut staff wages after coronavirus-related slowdown
Emirates is suspending the majority of its passenger flights after a dramatic slowdown caused by the global coronavirus outbreak.The company, one of the biggest airlines in the world, said the move - a key indication of the impact of the virus on the aviation industry - would come into force on Wednesday. -
Emirates to cancel all passenger flights from Wednesday
The Dubai-based carrier said it will continue to operate cargo flights during the coronavirus crisis. -
Self-employed need immediate help to survive, Government warned
The BCC warned many sole traders were seeing their livelihoods 'vanish in the blink of an eye'. -
Church fund chief says coronavirus will renew calls for responsible capitalism
Church fund chief says coronavirus will renew calls for responsible capitalism. Companies getting help in crisis should consider what they can do in return, investor says -
Pensions regulator investigates former Norton Motorcycles boss
Pensions regulator investigates former Norton Motorcycles boss. Businessman Stuart Garner’s conduct as pension fund trustee investigated after motorbike marque fell into administration -
Forget gold! In this stock market crash I’d invest £5k in the FTSE 100
Buying the FTSE 100 (INDEXFTSE:UKX) inside a Stocks and Shares ISA looks more tempting than gold to Harvey Jones.The post Forget gold! In this stock market crash I'd invest £5k in the FTSE 100 appeared first on The Motley Fool UK. -
EU approves two German state aid plans against coronavirus
The European Commission said on Sunday it had approved two state aid schemes to support the German economy amid the coronavirus epidemic.The Commission, which is the guardian of EU rules and monitors to ensure that governments do not unfairly help companies for competitive advantage, said the first approved German state aid measure concerned a loan programme covering up to 90% of the risk for loans to companies of all sizes.For this scheme, the risk taken by the German government may cover up to -
Primark closes stores as UK high street shuts down
Retailer cancels all new orders from suppliers as demand shrinks -
The coronavirus crisis may lead to a whole new way of economic thinking
The coronavirus crisis may lead to a whole new way of economic thinkingThe 1929 crash changed economics. With ideas such as universal basic income now being championed, Covid-19 could do likewise -
Coronavirus: UK chancellor missed out one major way to help millions of Brits
New huge overdraft fees of around 40% are coming into effect in April, from many banks. -
Criminals exploiting coronavirus pandemic to steal information
The National Crime Agency has urged people to be extra vigilant when seeking information online about Covid-19. -
Stock market crash bargain alert! I’d buy Lloyds for its 10%+ yield
The Lloyds share price and double-digit yield are risky, but hard to resist.The post Stock market crash bargain alert! I’d buy Lloyds for its 10%+ yield appeared first on The Motley Fool UK.
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