Qantas Airways Ltd will cut its international capacity by nearly 25% over the next six months and delay an order for Airbus A350 planes as part of sweeping changes in response to a coronavirus-led plunge in passenger demand.
Qantas Airways Ltd has asked Airbus SE for an extension to a March-end deadline to order up to 12 A350-1000 planes capable of the world's longest commercial flights from Sydney to London, the airline's CEO said on Tuesday.
Tech firms at Malaysia's one-time Silicon Valley of the East, swimming in orders from customers fleeing trade war-hit China, have seen fortunes turn again in the space of just a year as the coronavirus outbreak cuts them off from Chinese suppliers.
U.S. private equity firm Blackstone Group Inc is in exclusive talks to take SOHO China Ltd private in a $4 billion deal, said two sources, in one of its biggest bets yet on the Chinese market.
Oil prices bounced around 6% on Tuesday, but analysts saw little chance of a major recovery from the biggest daily rout in nearly 30 years after top producers Saudi Arabia and Russia launched a price war.
A plunge in U.S. markets on Monday triggered a 15-minute trading halt in stocks after the S&P 500 fell 7% shortly after the market opened.
Oil titans Russia and Saudi Arabia have accumulated vast financial cushions that will help them weather a lengthy price war. It's a battle of nerves - so who will blink first?
"This is going to be treacherous for a while. I would advise most retail investors to stay on the sidelines, not panic. There will be opportunities but they're not now," the chief economic advisor at Allianz said.
Shares of Boeing Co dropped 12% on Monday after the planemaker's proposal to leave wiring bundles in place on the grounded 737 MAX failed to get the backing of U.S. aviation regulators, potentially delaying the plane's return to service.
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
Twitter Inc said on Monday that it will name three new directors to its board in an agreement with activist investor Elliott Management and private equity firm Silver Lake.
U.S. equities plunged on Monday as trading resumed following a slump in oil prices.
U.S. President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified "Fake News," for a precipitous drop in U.S. stock prices on Monday, amid sliding demand for crude due to the coronavirus.
Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
Robinhood is experiencing another major outage on Monday.