JPMorgan Chase & Co could eliminate up to 140 jobs in Switzerland in an effort to cut costs, a person familiar with the matter told Reuters on Monday, confirming a report by the Swiss financial news website Finews.
Global stock markets plunged on Monday and oil prices tumbled by as much as a third after Saudi Arabia launched a price war with Russia, sending investors already spooked by the coronavirus outbreak fleeing for the safety of bonds and the Japanese yen.
Crude prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.
ZDNet | Aimee Chanthadavong | March 2, 2020 When, and if, the new payments method is introduced to the Australian market. The Reserve Bank of Australia (RBA) said it is confident and well-prepared to regulate new payments technologies as they get introduced into the Australia market. Fronting the Select Committee on Financial Technology and Regulatory
Amazon.com Inc has extended its work-from-home advisory to include employees in New York and New Jersey, the company said Monday, as the world's largest online retailer and other corporations aim to lower the risk of coronavirus transmission among their ranks.
The move by banks to force Cineworld's top shareholder to refinance a loan without equity collateral is yet another sign of mounting stress in Europe's junk debt market as the coronavirus roils markets and businesses around the world.
Global stock markets plunged on Monday and oil prices tumbled by as much as a third after Saudi Arabia launched a price war with Russia, sending investors already spooked by the coronavirus outbreak fleeing for the safety of bonds and the Japanese yen.
Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 20% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
"This is just the need for fiscal policy," CNBC's Jim Cramer said.
Are you financially prepared if you can't go to work? As fears about the coronavirus mount, so do concerns about possible quarantines, office closures and school shutdowns.
"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.
Saudi investors, who dipped into savings and took out loans to participate in Aramco's record share offering, have been shocked by the free-fall in the shares of the kingdom's crown jewel after an oil output pact between OPEC and its allies collapsed.
Older Americans, especially those with chronic medical concerns, should probably avoid big social gatherings and airline flights, given the rapid spread of coronavirus, a top U.S. health official said on Sunday, as investors braced for another volatile week in financial markets.
Here's what you need to know about the coronavirus:
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 signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed.