Federal Reserve Chair Jerome Powell has sketched out an altogether bumpier ride for the U.S. economy than many are predicting – one that sees business activity stop and start for months to come, until an effective treatment or vaccine for the novel coronavirus can be found.
Ryanair plans to cut 3,000 jobs and talk to Boeing about delaying plane deliveries as it does not expect European air traffic to recover fully from the coronavirus crisis until 2022, the Irish airline said on Friday,
The fate of Norwegain Air was in the balance on Friday after a deadline passed overnight for bondholders to vote on a rescue package for the transatlantic budget airline.
Norway’s sovereign wealth fund will vote in favour of a resolution committing Barclays to tackling climate change at the bank’s annual general meeting on May 7, the fund said on Friday.
Ryanair on Friday announced it would ground more than 99% of its flights until July and said it had begun negotiations with Boeing about cutting the number of aircraft deliveries over the next 24 months.
The experimental vaccine, mRNA-1273, is being tested in early-stage trial by the U.S. National Institutes of Health, with Moderna expecting to begin mid-stage trial in the second quarter. “Over time, the parties intend to establish additional production suites across Lonza’s worldwide facilities, ultimately allowing for the manufacture of material equivalent to up to 1 billion doses of mRNA-1273 per year for use worldwide”, the statement added. Earlier this month, Moderna got a $483 million funding from a U.S. government agency to accelerate its COVID-19 vaccine development. …read more […]
(Bloomberg) — The best month for global equities in almost a decade may be enough to convince investors the light at the end of the coronavirus tunnel isn’t a train, but the debate on what comes next is only just beginning as they adjust their focus to a financial landscape utterly changed by the pandemic.An indisputable takeaway from the crisis is a massive expansion in global debt — given the more than $8 trillion in fiscal measures worldwide, according to a Bloomberg compilation. Corporate balance sheets will have changed, as CFOs seek to bolster their capital through equity and debt …read more […]
Boeing’s capital raise, first reported by Reuters earlier this week, is the sixth-largest investment-grade bond offering of all time and the biggest year-to-date, according to Refinitiv data. The Federal Reserve’s intervention in the credit market has boosted prospects for troubled borrowers such as Boeing. While it has not yet snapped up any corporate bonds such as Boeing’s, its openness to doing so has buoyed credit markets. …read more […]
U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic and he threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak.
Airlines including United have parked jets and slashed flight schedules as demand has virtually vanished due to the pandemic, forcing them to suspend growth plans and shift their focus to saving cash. Chicago-based United said it had $9.6 billion in liquidity as of April 29, up from $7.2 billion at the end of March, and that its cash burn would range between $40 million and $45 million per day in the second quarter. United is set to receive $5 billion in payroll aid under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and will likely decide in …read more […]
Institutional Shareholder Services (ISS) recommended on Thursday that investors vote in favor of all board nominees at JPMorgan Chase & Co but called its support for lead independent director Lee Raymond “cautionary.”
Oil prices jumped on Friday, extending the previous session’s gains, buoyed by a lower-than-expected gain in U.S. crude inventories and the start of output cuts in a bid to offset a slump in fuel demand triggered by the coronavirus pandemic. Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up $1.10, or 4.2%, at $27.58 a barrel by 0013 GMT. Brent gained 12% on Thursday. …read more […]
U.S. electric vehicle maker Tesla Inc said in Friday it has cut the starting price for China-made Model 3 sedans by 10% to qualify for subsidies in the world’s biggest auto market.
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