(Reuters) – Citigroup Inc (C.N) said on Tuesday it would postpone its 2020 investor day that was scheduled to take place on May 13 due to the coronavirus pandemic. The bank said it will follow guidance from health authorities to determine a new date. Source: Read Full Article
Read more(Reuters) – Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic. In one of the fastest turns into a bear market, the S&P 500 and the Dow […]
Read moreLONDON (Reuters) – Britain’s top banks said on Tuesday they would suspend dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus. Barclays (BARC.L), HSBC (HSBA.L), Lloyds Banking Group (LLOY.L), Royal Bank of Scotland (RBS.L), Standard Chartered (STAN.L) and the British arm of Spain’s Santander (SAN.MC) all […]
Read moreMore than 90% of passenger airliners in the UK have been grounded as demand for air travel has plummeted, Sky News can reveal. EasyJet has become the latest airline to ground its entire fleet of aircraft, while Ryanair has warned it can’t rule out a complete shutdown over the COVID-19 pandemic. International Airlines Group, which owns British Airways, has grounded […]
Read moreWASHINGTON (Reuters) – The International Monetary Fund said on Monday the relaxation of the euro zone’s fiscal rules and support from the European Central Bank and the European Stability Mechanism is critical to a strong regional response to the coronavirus pandemic. “The determination of euro area leaders to do what it takes to stabilize the euro should not be underestimated,” […]
Read more(Reuters) – Wall Street was set to open slightly higher on Monday as President Donald Trump followed last week’s massive fiscal stimulus by extending his stay-at-home guidelines, leaving investors guessing at their economic impact. The S&P 500 .SPX posted its biggest weekly percentage gain in over a decade last week, while the Dow Jones .DJI its best since 1938, thanks […]
Read moreLONDON/SYDNEY (Reuters) – Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months. There were some bright spots, with Australian equities posting a standout jump as the government launched a super-sized support programme, but that was about it. Japan’s Nikkei had led the rest of […]
Read moreSYDNEY (Reuters) – Asian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts. “We continue to mark down 1H20 global GDP forecasts as our assessment of both the global pandemic’s reach and the damage related […]
Read moreAmerican Media is the latest media outlet to announce cuts as the coronavirus has shaken the economy and the advertising market. By Marc Tracy American Media Inc., the publisher of The National Enquirer, Men’s Journal, Us Weekly and other titles, is cutting the pay of its employees by more than 20 percent, a spokesman said on Saturday, as the coronavirus […]
Read moreA third of this summer’s food harvest could go to waste on British farms because of a chronic shortage of migrant labour caused by the coronavirus outbreak, charities and farmers are warning. UK farms and food producers rely on a migrant workforce of 60,000 to 70,000 seasonal labourers mainly drawn from eastern European countries including Romania, Bulgaria and Poland. Within […]
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