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.
LATAM Airlines Group, the continent's largest carrier, on Monday canceled 90% of its international flights as demand collapsed and countries shut down borders in light of the coronavirus outbreak, leaving the region increasingly isolated.
Airbus has drawn up contingency plans to slow or stop production if France is placed under a drastic lockdown due to coronavirus, two people familiar with the matter said.
Starbucks Corp closed its dine-in areas for at least two weeks at its U.S. and Canadian stores and shifted completely to "to go" service, as restaurants look to curb the rapid spread of the coronavirus outbreak.
Uber Technologies Inc's food delivery business, Uber Eats, said on Monday it would waive delivery fee for independent restaurants across the United States and Canada.
A group representing major U.S. airlines said the industry needs $50 billion in grants and loans to survive the dramatic falloff in travel demand from the coronavirus outbreak.
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Several automakers on Monday said U.S. buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if impacted by shutdowns due to the spread of coronavirus.
U.S. gasoline refining margins fell to the lowest since December 2008 on Monday, as the spread of coronavirus intensified in the United States, disrupting daily life for Americans who have been told to stay indoors and off the road.
The United States and other rich countries need to start spending their way out of the coronavirus crisis, White House advisers, the International Monetary Fund and business groups said Monday, amid growing market panic about the pandemic.
U.S. railroad Amtrak said the passenger rail service and its state partners need $1 billion in government assistance after a dramatic decline in travel because of the coronavirus pandemic.
Amazon.com Inc said on Monday it would hire 100,000 warehouse and delivery workers in the United States to tackle a surge in online orders, as consumers shop heavily fearing the spread of the coronavirus outbreak.
Wall Street suffered its biggest drop since the coronavirus crisis began, with the S&P 500 closing at the lowest level since December 2018 as investors fear the coronavirus pandemic is proving a tougher opponent than central banks, lawmakers or the White House are capable of battling.
There are millions of small and mid-sized businesses in the U.S. with 500 employees or less. If the SBA has $50 billion and makes $1 million emergency loans, it could help 50,000 firms.