The bid spread of Markit high yield and investment grade credit default swap indexes - widely used as a barometer of sentiment in the two respective corporate bond markets - fell on Monday morning following the Federal Reserve's announcement that it would backstop an unprecedented range of credit.
U.S. stock index futures surged more than 3% on Monday, overturning early losses after the Federal Reserve took unprecedented steps to support U.S. households and companies more directly with credit as it seeks to blunt the economic damage from the coronavirus pandemic.
The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.
American Banker | Penny Crosman | March 18, 2020 The coronavirus pandemic could be devastating for many companies, but it's also shining a spotlight on the power of fintechs. They seem to be responding to the sudden challenge, though uncertainties lie ahead. The virus-driven moratorium on travel and the trend of companies encouraging people to
Fiat Chrysler Chief Executive Mike Manley told employees that the carmaker would help with the production of masks during the coronavirus emergency, a union representative said on Monday.
SoftBank Group Corp plans to raise up to 4.5 trillion yen ($41 billion) by selling or monetizing assets to buy back 2 trillion yen of its shares and reduce debt, it said on Monday.
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.
At Lazada, the Southeast Asian arm of Alibaba Group Holding, staff are furious over demands they submit health reports daily and other coronavirus-prevention steps seen as too invasive, highlighting a long-running culture clash with management from China.
Twitter Inc pulled its first-quarter revenue outlook and forecast an operating loss on Monday as the coronavirus outbreak crimped ad sales, but said the pandemic boosted the number of active users on the microblogging platform.
Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R]
Billionaire investor David Tepper said he is "nibbling" at some stocks, particularly in the tech sector, as the broader market tumbles amid the coronavirus outbreak.
U.S. trade regulators have approved Apple Inc's request to waive tariffs on China-made Apple Watches, the Office of the United States Trade Representative said in a letter dated Friday.
Airbus boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet.
British companies on Monday rushed to heed unprecedented calls by regulators to mothball their results so they can better assess how the coronavirus pandemic is affecting their business.
Companies should not publish preliminary financial statements for at least two weeks to better assess how the coronavirus epidemic is affecting their business, Britain's Financial Conduct Authority said on Saturday.