LONDON (Reuters) – Barclays (BARC.L) is ‘very very unlikely’ to meet its goal of a 10% return on equity this year given the impact on its business of the coronavirus pandemic, its Chief Financial Officer Tushar Morzaria said on Tuesday….
Read MoreAndrew Cuomo Is the Control Freak We Need Right Now
“In other times, when you had to go through the messiness of listening to others and trying to bring people together, that was not his forte,” said Randi Weingarten, the president of the American Federation of Teachers, a union that…
Read MoreCoronavirus empties airlines' cash drawers, knocks $157 billion off share values
(Reuters) – Global airlines are fast running out of cash after cutting capacity by 90% or even grounding entire fleets due to the broad travel restrictions to contain the spread of the coronavirus, calling into question the survival of several…
Read MoreGlobal stocks tumble as investors flee risk on coronavirus fears
TOKYO (Reuters) – Global stock futures and Asian shares tumbled in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout from the outbreak. Most traditional safe-haven assets were also…
Read MoreHotels Were Rolling Out Tools to Help Calm Travelers. Then Coronavirus Hit.
“Big brands in many industries, but specifically in travel, are listening to their customers and realizing that wellness is more important to them,” said Alex Will, chief strategy officer at Calm. “I think people are just searching for help with…
Read MoreFedEx suspends 2020 profit outlook; coronavirus and turnaround pressure weigh
(Reuters) – U.S. package delivery company FedEx Corp (FDX.N) suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic. Even so, the…
Read MoreFed Unveils Emergency Lending Programs as Companies Struggle to Raise Cash
“We heard loud and clear there were liquidity issues,” Mr. Mnuchin said. In recent days, buyers of commercial paper disappeared, and the ones who stayed demanded much higher rates. The funding cost for Royal Caribbean Cruises, which has been hit…
Read MoreExclusive: Impossible Foods explores credit line to tackle coronavirus fallout – sources
(Reuters) – Impossible Foods is discussing a new credit line worth several hundred million dollars with its lenders, as the plant-based meat company braces for the economic fallout of the coronavirus outbreak, people familiar with the matter said on Tuesday….
Read MoreGlobal stocks shaky after worst crash since 'Black Monday'
LONDON (Reuters) – World share markets and oil prices struggled to shake off their coronavirus fears on Tuesday after Wall Street’s worst rout since the Black Monday crash of 1987. After Monday’s meltdown, it was another day to test the…
Read MoreCoronavirus: VW prepares to close factories due to spread of infection
The world’s largest car manufacturer is preparing to close its factories as it seeks to slow the spread of the coronavirus. Volkswagen warned that it expected 2020 to be a difficult year, as it announced production would temporarily cease at…
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