Companies should not publish preliminary financial statements for at least two weeks to better assess how the coronavirus epidemic is affecting their business, Britain's Financial Conduct Authority said on Saturday.
British companies on Monday rushed to heed unprecedented calls by regulators to mothball their results so they can better assess how the coronavirus pandemic is affecting their business.
Airbus boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet.
Food giant Nestle told employees to prepare for difficult times ahead and make all the necessary efforts to supply customers with the food and beverages they need, Chief Executive Mark Schneider said in a memorandum seen by Reuters.
Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R]
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.
SoftBank Group Corp plans to raise up to 4.5 trillion yen ($41 billion) by selling or monetizing assets to buy back 2 trillion yen of its shares and reduce debt, it said on Monday.
Fiat Chrysler Chief Executive Mike Manley told employees that the carmaker would help with the production of masks during the coronavirus emergency, a union representative said on Monday.
American Banker | Penny Crosman | March 18, 2020 The coronavirus pandemic could be devastating for many companies, but it's also shining a spotlight on the power of fintechs. They seem to be responding to the sudden challenge, though uncertainties lie ahead. The virus-driven moratorium on travel and the trend of companies encouraging people to
U.S. stock index futures surged more than 3% on Monday, overturning early losses after the Federal Reserve took unprecedented steps to support U.S. households and companies more directly with credit as it seeks to blunt the economic damage from the coronavirus pandemic.
The bid spread of Markit high yield and investment grade credit default swap indexes - widely used as a barometer of sentiment in the two respective corporate bond markets - fell on Monday morning following the Federal Reserve's announcement that it would backstop an unprecedented range of credit.
Sweden's H&M , the world's second largest clothing retailer said on Monday it had decided to scrap its proposed dividend due to the coronavirus outbreak, and that it was reviewing all parts of its operations, including all costs.
The U.S. Federal Reserve on Monday said it would begin backstopping an unprecedented range of credit for households, small businesses and major employers in an effort to offset the "severe disruptions" to the economy caused by the coronarvirus outbreak.
A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market's wild swings subside.
Widening travel curbs to contain the spread of the coronavirus led to further flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.