Britain has told airlines that state investment to help them survive the coronavirus crisis will only be considered once they have looked at the possibility of raising capital from existing investors, a person familiar with the situation said.
Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than $250 billion.
The interest rate some banks pay to account holders is now near rock bottom. However, there are several top-yielding savings accounts and certificates of deposit still out there.
Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic, which is boosting unemployment and severely disrupting economic activity.
Spirit Aerosystems , Boeing Co's largest supplier, is temporarily suspending production for the airplane maker at many of its facilities in the United States for two weeks, as the global coronavirus pandemic saps demand across the industry.
Bombardier pulled its 2020 outlook on Tuesday and said it would halt all non-essential work at most of its Canada-based operations until April 26 to help slow the spread of the coronavirus pandemic.
Comcast Corp on Tuesday warned of a hit to its results from the coronavirus outbreak as it shut all its theme parks and delayed distribution of films in theaters worldwide.
UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes.
Financial markets rebounded on Tuesday, with stocks and oil jumping about 4% in Europe, while the safe-haven dollar recoiled as unprecedented global stimulus efforts gained traction.
Oil jumped 3% on Tuesday towards $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.
French hotel group Accor and home rental company Airbnb are launching online services to help medical staff fighting the coronavirus epidemic in France find emergency housing.
General Motors Co said on Tuesday it will draw about $16 billion from its credit lines in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak.
British luxury carmaker Aston Martin said on Tuesday it would suspend production at its UK manufacturing facilities starting Wednesday until April 20 to cope with the coronavirus pandemic, which has hurt demand for its cars.
Global airlines are in an emergency situation and government rescue packages are needed as quickly as possible to avoid multiple airline collapses, the head of the International Air Transport Association warned on Tuesday.
Consumer goods giant Unilever Plc said on Tuesday it would protect its workforce from the financial impact of the coronavirus by continuing to pay contractors and other part time staff for up to three months.