SoftBank Group Corp is considering pulling out of a $3 billion bid to buy additional shares in WeWork, because it feels the office-space sharing firm has not met the conditions for the deal, people familiar with the matter said on Tuesday.
Credit Suisse sharply lowered its forecast for Mexico's economic performance this year and now expects a 4.0% contraction, according to a note sent to the bank's clients on Tuesday, adding to a series of downgrades since the coronavirus spread.
Australia on Wednesday joined a growing list of countries offering financial aid to its ailing aviation sector as global airlines announced deeper capacity cuts due to plummeting demand and stricter border controls associated with the coronavirus.
HSBC Holdings PLC has appointed Noel Quinn as chief executive officer, handing the insider and interim boss the reins of Europe's biggest bank and ending months of speculation an external candidate could get the role.
The Detroit Three automakers and United Auto Workers agreed on Tuesday to curtail production at U.S. factories and limit the number of workers on the job at one time to prevent the spread of the coronavirus among roughly 150,000 factory employees.
United Airlines on Tuesday announced a 60% schedule reduction in April, citing the impact of the coronavirus pandemic on travel demand.
Oil prices steadied on Wednesday after slipping to new four-year lows, sapped by fears for fuel demand and the global economy amid travel and social lockdowns triggered by the coronavirus epidemic.
Shares in Japan's Fujifilm Holdings Corp surged 15% on Wednesday morning after a Chinese official said the company's Avigan anti-flu drug appeared to help coronavirus patients recover.
U.S. stock futures and several Asian shares fell in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout of the outbreak.
DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that there's a 90% chance the United States will enter a recession this year.
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.
The coronavirus shockwaves rippling through U.S. stocks are forcing investors to contemplate outcomes more dire than a recession, including several quarters of declining economic activity, a credit crisis or even a depression.
U.S. electric vehicle maker Tesla Inc plans to operate its Fremont factory on Tuesday, when San Francisco's Bay Area begins a three-week lockdown to rein in the spread of a coronavirus, the Electrek online media said.
Asian shares held their ground on Tuesday in a volatile session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Tesla Inc Chief Executive Officer Elon Musk sent employees an email on Monday telling them to stay at home if they felt ill or uncomfortable, two people who saw the memo told Reuters.