Latest News on private equities market

A rebound in world stocks reached a lofty 11% on Wednesday and commodities made gains too, as coronavirus-battered markets leapt on news of a $2 trillion U.S. fiscal stimulus package.

The head of the European Central Bank Christine Lagarde asked euro zone finance ministers at a videoconference on Tuesday evening to seriously consider a one-off joint debt issue of "coronabonds" to help fight the epidemic, two officials said.

German conglomerate Thyssenkrupp will cut 3,000 jobs and invest 4.2 billion euros ($4.6 billion) at its struggling steel division by 2026 as part of a wage deal struck with powerful labor union IG Metall, it said on Wednesday.

British supermarket Sainsbury's said on Wednesday it would help its smaller suppliers during the coronavirus emergency by paying them immediately and making finance available.

India is likely to agree an economic stimulus package of more than 1.5 trillion rupees ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters.

South Korea's Kia Motors Corp is considering making face masks at its Chinese factory to help battle the spread of the coronavirus, a spokesman said on Wednesday.

U.S. stock index futures rose on Wednesday, putting Wall Street on course to extend its massive bounce from the previous session, as Washington reached a deal on a $2 trillion stimulus package to help ease some economic pain from the coronavirus pandemic.

Those pining for a bottom to the gut-wrenching stock market selloff may be disappointed to learn that mega one-day rallies like the historic one witnessed on Tuesday are typically not the start of a durable recovery.

Occidental Petroleum Corp will cut employee salaries by up to 30%, according to an internal memo reviewed by Reuters, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices.

Asian shares gained on Wednesday in the wake of Wall Street's massive rebound as U.S. senators and Trump administration officials reached an agreement on a giant economic stimulus bill to alleviate the economic impact of the coronavirus outbreak.

Truckmaker AB Volvo said on Wednesday it had decided to postpone its annual shareholders meeting due to the prevailing uncertainty around the effects from the global coronavirus outbreak.

Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.

The $2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry's rescue for the second time in a dozen years.

Walmart is offering some help to its small business partners as the coronavirus forces consumers to self-isolate and companies to shutter their storefronts.

New coronavirus relief legislation would greatly expand benefits for unemployed workers, and extend payments to previously ineligible groups like gig workers.