JPMorgan Chase & Co has asked all managers globally to allow employees who can effectively work from home to begin doing so to help with social distancing as the coronavirus pandemic spreads, according to a memo seen by Reuters.
The London Stock Exchange Group said on Monday it had gained approval from the U.S. Committee on Foreign Investment for its $27 billion takeover of analytics firm Refinitiv, judging there were no national security concerns with the deal.
The move is the latest escalation of tactics taken by large financial firms,
Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers have all but dried up.
Sanofi on Monday said its production sites were running normally in Europe and elsewhere as the coronavirus outbreak hits business activity globally, although the drugmaker has put in place contigency plans to ensure continuity.
Volkswagen's Autoeuropa car assembly plant near Lisbon has reduced its daily output by 16% because of a shortage of workers after Portugal ordered all schools closed amid the coronavirus outbreak, the plant said on Monday in a statement. ´
Power producer PG&E Corp said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition to those financing commitments.
Most Asian shares fell on Tuesday a day after Wall Street's historic market rout, with fleeting initial gains evaporating as the coronavirus remained a major risk to economic growth.
Nordstrom Inc said on Monday it would temporarily shut its stores in the United States and Canada and pull its fiscal 2020 forecast, as the upscale retailer joins its peers in an effort to limit the spread of the coronavirus.
Asian shares fell on Tuesday in a topsy-turvy session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Ryanair said on Monday it would ground most of its aircraft in Europe over the next seven to 10 days, expects to cut seat capacity by 80% for the next two months, and could even ground its entire fleet, given travel restrictions due to the coronavirus pandemic.
France's competition watchdog on Monday fined iPhone maker Apple 1.1 billion euros for anti-competitive behavior in its distribution network and an abuse of economic dependence on its resellers.
Wall Street looked set to crater on Monday after the Federal Reserve's aggressive move to cut interest rates to nearly zero heightened fears of the economy tipping into a coronavirus-driven recession.
Exxon Mobil on Monday said it will make "significant" cuts to spending in the face of the unprecedented slide in oil prices due to the global coronavirus outbreak, which sent its shares to a 17-year low.
Boeing Co's shares plunged another 20% on Monday, erasing all gains recorded during ousted CEO Dennis Muilenburg's tenure, as the mounting economic fallout of the coronavirus pandemic added to uncertainty around the 737 MAX's return to service.