Dollar slips as Fed's money bazooka loosens tight cash supply
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.
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.
Airlines canceled more flights on Monday as Australia and New Zealand warned against non-essential domestic travel, the United Arab Emirates (UAE) halted flights for two weeks and Singapore and Taiwan banned foreign transit passengers, in the coronavirus battle.
Asian shares sank on Monday as a rising tide of national lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession.
Walmart Inc said on Monday it has temporarily raised entry wages for workers in its e-commerce warehouses by $2, following similar moves by rivals, as it attempts to manage a shopping surge brought about by the coronavirus outbreak.
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, the proposal showed.
Apple has dropped a two-device limit on online purchases of iPhones, a check of its web stores showed on Monday, just days after changing the checkout procedure amid a coronavirus pandemic.
Oil major Shell lowered capital expenditure for 2020 by about $5 billion on Monday and suspended the next tranche of its share buyback plan, as the company tries to weather a hit from the recent oil price crash.
Goldman Sachs said it expected global real gross domestic product to contract by about 1% in 2020, a sharper economic decline than in the year following the 2008 global financial crisis.
SoftBank Group Corp said on Monday it is selling or monetizing up to 4.5 trillion yen ($41 billion) in assets to buy back 2 trillion yen of its shares and reduce debt, sending its stock soaring to its biggest daily gain in nearly 12 years.
Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up, as investors worried about the economic damage from the coronavirus and made a chaotic dash for the exits.
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.
Hyundai Motor Group's heir apparent Euisun Chung bought shares in automaker Hyundai Motor and parts affiliate Hyundai Mobis for a combined 19 billion won ($15 million), according to stock exchange filings.
Planemaker Airbus announced new steps on Monday to bolster its financial position as a coronavirus pandemic cripples the travel industry, including the signing of a credit facility for 15 billion euros ($16.1 billion).
Financial markets around the world took another hammering on Monday as a rising tide of national coronavirus lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession.
Widening curbs on travel to contain the spread of the coronavirus led airlines to ramp up flight cancellations on Monday, with new restrictions spanning Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.