Markets reeled on Monday, with stocks on Wall Street and the price of Brent crude tumbling more than 10%, as the Federal Reserve's second emergency rate cut in as many weeks to blunt the economic impact of the coronavirus failed to calm fears of a prolonged recession.
Two of Germany's largest banks have temporarily shut hundreds of branches, while Italian lenders have shortened opening hours as they grapple with staff shortages and the spread of coronavirus.
The White House is drafting a financial assistance package is expected to include direct assistance, loans and tax relief in the wake of the steep falloff in U.S. travel demand, officials briefed on the matter said Monday.
A health emergency dismissed at first as a fleeting risk to the U.S. economy has turned into a full-on test of whether a decade of planning, regulation, research and soul-searching has left the financial system resilient to a major shock and its central bank able to mount a rescue.
Carmakers including Fiat Chrysler, Peugeot and Volkswagen cut production at European plants on Monday as they grappled with the coronavirus crisis and diving demand.
Alphabet Inc began disclosing revenue for its YouTube video service this year after U.S. securities regulators asked the Google parent to give more "quantitative and qualitative" data on the business, according to filings released Monday.
Deutsche Telekom on Monday postponed its March 26 annual general shareholders meeting due to the coronavirus, saying it planned to hold the gathering during the first eight months of this year as required by law.
U.S. markets should stay open despite intense volatility, the head of the U.S. securities regulator said on Monday, quashing industry speculation that the government might shut down the country's exchanges to stop a plunge in stock prices.
The Trump administration is calling for tax deadline relief, but CPAs and taxpayers are still uncertain as to when documents must be filed and payments need to be made. Here are the next steps you should take.
U.S. stocks fell sharply on Monday as the Federal Reserve's drastic move to cut interest rates to near zero fueled anxiety over the extent of economic damage from the coronavirus pandemic.
U.S. oil output growth from the Permian basin is expected to offset declines in every other shale formation in April, helping push overall production up by about 18,000 barrels per day (bpd) to a record 9.08 million bpd, data showed on Monday.
U..S. airports are seeking $10 billion in U.S. government assistance to help offset losses incurred by the sharp drop in travel due to coronavirus, two people briefed on the matter said.
Boeing Co's shares plunged another 20% on Monday, erasing all gains recorded during ousted CEO Dennis Muilenburg's tenure, as the mounting economic fallout of the coronavirus pandemic added to uncertainty around the 737 MAX's return to service.
Major airlines sought a U.S. government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand.
Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.