The shock from coronavirus to banks is set to be greater but less prolonged than lenders faced in last year’s stress test and the financial system remains resilient, the Bank of England said on Tuesday.
Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.
Top news and what to watch in the markets on Tuesday, March 24, 2020. …read more […]
Tesla bought hospital ventilators in China and shipped them to the United States, CEO Elon Musk said on Tuesday. Tesla’s purchase comes as governments across the globe appeal to automakers and aerospace companies help procure or make ventilators and other medical equipment. “China had an oversupply, so we bought 1255 FDA-approved ResMed, Philips & Medtronic ventilators on Friday night & airshipped them to LA,” Musk said on Twitter. …read more […]
German sportswear company Puma announced on Tuesday that 1,400 staff would switch to shorter work hours until April 13 as sales slump due to the coronavirus and said its three top executives would not take their pay for April.
The dollar slipped for a second consecutive day on Tuesday after the U.S. Federal Reserve unveiled fresh measures to supply precious liquidity into funding markets, sending risky currencies such as the Australian dollar soaring.
Britain’s biggest sportswear retailer JD Sports said on Tuesday it has delayed the publication of its financial results to May and has enough cash resources to ride out the coronavirus crisis.
Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday.
Oil prices rose around 4% on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.
The dollar slipped on Tuesday on signs tight funding conditions are easing slightly after the U.S. Federal Reserve pulled out all stops to supply much needed greenback liquidity.
Norwegian Air has fulfilled the first condition for taking part in a government-led rescue package for the airline industry, securing an initial cash infusion of 300 million Norwegian crowns ($26.63 million), the budget carrier said.
Norwegian Air has fulfilled the first condition to access a government-led rescue package for the airline industry and secured an initial cash infusion of 300 million Norwegian crowns ($26.6 million), the budget carrier said on Tuesday. Norway said on March 19 that Norwegian Air could obtain credit guarantees worth up to 3 billion crowns to help it to weather the coronavirus crisis but must first comply with a series of conditions. The condition for receiving the first 300 million crowns from the package was that commercial lenders were willing to supply 10% of that amount while the …read more […]
(Bloomberg) — U.S. and European futures climbed on Tuesday after global equities hit their lowest level since 2016, while the dollar snapped a 10-day rally and Treasuries dipped as appetite for riskier assets revived.Contracts on the S&P 500 rose over 4%, more than making up what the index lost on Monday. Benchmarks in Tokyo, Hong Kong and Sydney climbed at least 3%. Korean shares jumped almost 9% as the government announced measures to stabilize financial markets. The dollar retreated against developed and emerging currencies alike, in a tentative sign of reduced stress after the steepest appreciation since the global financial …read more […]
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