Mohamed El-Erian said Monday the Fed wasted a large part of its monetary policy arsenal to fight the economic fallout of the coronavirus by doing things backward.
Major airlines sought a U.S. government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand.
U.S. stocks fell sharply on Monday as the Federal Reserve's drastic move to cut interest rates to near zero fueled anxiety over the extent of economic damage from the coronavirus pandemic.
U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
U.S. oil output growth from the Permian basin is expected to offset declines in every other shale formation in April, helping push overall production up by about 18,000 barrels per day (bpd) to a record 9.08 million bpd, data showed on Monday.
Kraft Heinz Co said on Sunday it has asked office employees to work from home as the coronavirus continues to spread.
"Pick your companies carefully as you re-enter the market," Michael Farr says.
Louis Vuitton owner LVMH said on Sunday that its cosmetics unit would manufacture large quantities of hand disinfectant gel to help stave off a nationwide shortage across France as the coronavirus rapidly spreads.
Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine.
At two gasoline stations in Scarsdale, a wealthy suburb of New York City not far from one of the nation's worst outbreaks of coronavirus, attendants whiled away the minutes on a rainy Friday morning at what would normally be their busiest time of day.
American Banker | Kevin Wack | March 12, 2020 The latest high-level hire at Social Finance is a former Jeff Bezos deputy who will oversee the San Francisco firm’s deposit, credit card and brokerage units. Maria Renz, who spent 21 years at Amazon, joined SoFi on Wednesday as an executive vice president and group business
Goldman Sachs Group Inc has downgraded its U.S. growth forecast for the first and second quarters in the wake of the economic fallout from the coronavirus outbreak.
The Financial Times reported Bridgewater's flagship fund is down about 20% for the year following the swift plummet from all-time highs into a bear market from stocks.
Volkswagen is preparing to suspend operations at its manufacturing plant in Bratislava, the company said on Sunday, after Slovakia declared a state of emergency due to the coronavirus outbreak.
Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine.