Virgin Atlantic has asked the UK government for emergency financial help in addition to the coronavirus package made available to all British companies, said a source familiar with the situation.
Top news and what to watch in the markets on Monday, March 30, 2020. …read more […]
U.S. stock index futures see-sawed on Monday after a strong recovery last week, as President Donald Trump extended his stay-at-home guidelines until the end of April, raising fears of a larger economic hit from the slump in business activity.
British budget airline easyJet has grounded its fleet of 344 planes and has no clear idea when it might resume flights, it said on Monday, highlighting the strain on airlines trying to survive the coronavirus pandemic.
American Airlines Group Inc is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said.
Polls show President Trump’s job approval rating has been ticking up as the White House tackles the novel coronavirus pandemic. WSJ’s Gerald F. Seib explains how the numbers come with caveats. Photo: Alex Brandon/Associated Press …read more […]
Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said. Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday, up from some $125,000 on Friday and a weekly low of about $90,000 a day on Wednesday, according to several ship broking sources. “Its difficult to say whether or not the rates will be sustained, or at …read more […]
Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months.
China’s largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely big enough to weather any fallout.
Troubled fashion retailer Ted Baker on Monday named Chief Financial Officer Rachel Osborne to the permanent role of chief executive officer, replacing Lindsay Page who stepped down last year.
(Bloomberg) — Airlines worldwide raised more than $17 billion in bank loans in March to shore up their finances amid the coronavirus outbreak.U.S. carriers were the most active, borrowing $12.5 billion, according to data compiled by Bloomberg. Delta Air Lines Inc. is the top borrower this month, obtaining $5.6 billion, followed by Singapore Airlines Ltd., which secured a S$4 billion ($2.8 billion) bridge loan, and United Airlines Holdings Inc., which raised $2.5 billion.The airlines have borrowed new loans or drawn down on existing credit lines that they typically didn’t use before the health crisis. Companies in all industries globally have …read more […]
British low cost airline easyJet said it had grounded its entire fleet of over 330 aircraft and had no visibility on when it could restart flights, highlighting the heavy strain on airlines trying to survive to fly again after coronavirus.
(Bloomberg) — A crushing global shortage of ventilators needed to treat coronavirus patients has sent a German smallcap stock soaring, leaving analysts scrambling to value both the shares and the company’s ability to help combat the crisis.While major German indexes have lost between 17% and 28% in 2020, shares of Draegerwerk AG & Co KGaA have gained about 70%, taking off in mid-March after Germany ordered 10,000 ventilators and other medical equipment from the company. M.M. Warburg analyst Eggert Kuls estimates that each ventilator costs about 20,000 euros, making the deal worth 200 million euros ($221 million) in revenue for …read more […]
(Bloomberg) — Oil demand is getting hammered at a faster pace than anyone had predicted and landlocked crude production in the U.S., Russia and Canada is most vulnerable, according to Goldman Sachs Group Inc.Consumption will drop by 26 million barrels, or 25%, this week as social-distancing measures to contain the coronavirus now impact 92% of global GDP, analysts including Jeff Currie and Damien Courvalin said in a note. There’s been at least 900,000 barrels a day of announced shut-ins at the wellhead, with the true number likely higher and growing by the hour, they said.“The ultimate magnitude of these shut-ins, …read more […]
China’s central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities ramped up steps to relieve pressure on an economy ravaged by the coronavirus pandemic.
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