UK markets open in 4 hours 37 minutes

New York Has Highest Number of Coronavirus Cases in U.S.: Gov. Cuomo

Mar.18 -- New York Governor Andrew Cuomo tells reporters the state now has the highest number of coronavirus infections in the country with positive tests totaling 2,382.

  • Trump says 3M 'will have a big price to pay' over face masks
    Finance
    Reuters

    Trump says 3M 'will have a big price to pay' over face masks

    President Donald Trump slammed 3M Co in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks. At a White House briefing on the coronavirus pandemic earlier on Thursday, Trump announced he had signed a Defense Production

  • Cathay Pacific to make further cuts to flights - internal memo
    Finance
    Reuters

    Cathay Pacific to make further cuts to flights - internal memo

    Hong Kong's Cathay Pacific Airways Ltd will make further cuts to passenger capacity because of extremely low demand, leaving it with just two flights a week each to four destinations in April, according to an internal memo. The airline carried only 582 passengers one day this week with a load factor

  • China's services activity shrinks further in March, job cuts fastest on record - Caixin PMI
    Finance
    Reuters

    China's services activity shrinks further in March, job cuts fastest on record - Caixin PMI

    China's services sector struggled to get back on its feet in March after a brutal month of unprecedented shop closures and public lockdowns amid the coronavirus outbreak, a private survey showed on Friday. Export orders also slumped again as more countries imposed their own tough virus containment

  • Aussie and kiwi may be past the worst, if analysts right - Reuters poll
    Finance
    Reuters

    Aussie and kiwi may be past the worst, if analysts right - Reuters poll

    Analysts polled by Reuters see the Aussie at $0.6020 in one month, just under the $0.6055 level it was trading at on Friday. The Aussie plunged from $0.6700 to a 17-year low of $0.5510 in a nine-day period in early March, as the spread of the virus sent global markets into a tailspin. Economists fear

  • Coronavirus fallout dents economic outlook for developing Asia - ADB
    Finance
    Reuters

    Coronavirus fallout dents economic outlook for developing Asia - ADB

    Developing Asia's already-slowing growth is set to weaken sharply this year, hit by the fallout from the coronavirus pandemic before it bounces back strongly next year, the Asian Development Bank (ADB) said on Friday. The Manila-based lender said its baseline forecast called for growth in developing

  • Coronavirus Cases Top 1 Million
    Finance
    Bloomberg UK

    Coronavirus Cases Top 1 Million

    Apr.02 -- Worldwide cases of coronavirus have now reached a total of more than a million infections and counting. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.”

  • Airbnb lowers internal valuation to $26 billion as coronavirus hits bookings - source
    Finance
    Reuters

    Airbnb lowers internal valuation to $26 billion as coronavirus hits bookings - source

    Airbnb was valued at $31 billion in its most recent private fund-raising round, the source said.With the coronavirus spreading across the globe, thousands of travellers have called off plans for vacations, work trips and family visits. Airbnb staff were informed of the new valuation by Chief Executive

  • Sterling to regain some lost ground but forecasts slashed: Reuters poll
    Finance
    Reuters

    Sterling to regain some lost ground but forecasts slashed: Reuters poll

    Britain's pound will have regained some of its lost ground against the dollar in a year but forecasts in a Reuters poll were slashed from a month ago as the coronavirus pandemic continues to wreak havoc globally. In the March poll the respective forecasts were all 85p.

  • Hong Kong business activity slumps further in March as virus pummels economy
    Finance
    Reuters

    Hong Kong business activity slumps further in March as virus pummels economy

    Business activity in Hong Kong deteriorated further in March, a private survey showed on Friday, as demand, output and confidence plunged amid the deepening coronavirus pandemic. While the adjusted IHS Markit headline Hong Kong Purchasing Manager's Index (PMI) edged up to 34.9 in March, from 33.1

  • Virus Deaths Accelerate in Italy, Spain and France
    Finance
    Bloomberg UK

    Virus Deaths Accelerate in Italy, Spain and France

    Apr.02 -- The numbers out of Europe showing the rate of virus infection in Italy slowed after three weeks of lockdown, but the number of deaths rising again to 760. Spain and France are also seeing a rise in fatalities. Bloomberg’s Rishaad Salamat reports on “Bloomberg Daybreak: Asia.”

  • Japan service sector activity slumps most in a decade as virus impact spreads
    Finance
    Reuters

    Japan service sector activity slumps most in a decade as virus impact spreads

    Japan's services sector contracted at the fastest pace since the global financial crisis in March as a shock to demand from the coronavirus pandemic greatly hit business activity and expectations. The final seasonally adjusted au Jibun Bank Japan Services Purchasing Managers' Index (PMI) slumped

  • Toshiba to apply for return to TSE's first section - sources
    Finance
    Reuters

    Toshiba to apply for return to TSE's first section - sources

    Toshiba Corp plans to file an application as early as Friday to return to the Tokyo Stock Exchange's first section, sources familiar with the matter said. It would have needed at least five consecutive years of audited financial reporting to return to the first section under the Tokyo bourse'

  • News
    Reuters

    Irish services sector suffers record collapse in March - PMI

    The AIB IHS Markit Purchasing Managers' Index (PMI) for services fell to 32.5 from 59.9 in February, below the 50 mark that separates growth from contraction for the first time since 2012 when years of strong growth in the economy began. The month-on-month drop was more than four times greater than

  • Mnuchin says small business rescue loans launch Friday, despite lender confusion
    Finance
    Reuters

    Mnuchin says small business rescue loans launch Friday, despite lender confusion

    U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses, after conceding to bank demands to fix aspects of the program that they said could cause participating lenders legal and financial risks. Mnuchin

  • Amazon bosses plotted 'smear campaign' against fired warehouse worker
    Finance
    The Telegraph

    Amazon bosses plotted 'smear campaign' against fired warehouse worker

    Amazon executives plotted to launch a smear campaign against a rebellious warehouse worker, calling him "not smart or articulate", according to reports. Vice News reported on Thursday that it had obtained leaked documents from a daily coronavirus planning meeting attended by Amazon's chief

  • British Airways suspends more than 30,000 staff while Heathrow shuts one runway
    Finance
    The Guardian

    British Airways suspends more than 30,000 staff while Heathrow shuts one runway

    British Airways suspends more than 30,000 staff while Heathrow shuts one runway. Affected BA employees will be paid 80% of their salary under terms of state furlough scheme

  • Amazon execs labeled fired worker 'not smart or articulate' in leaked PR notes
    Finance
    The Guardian

    Amazon execs labeled fired worker 'not smart or articulate' in leaked PR notes

    Amazon execs labeled fired worker 'not smart or articulate' in leaked PR notes. In meeting with CEO Jeff Bezos, general counsel suggested it would be good for company if media focused on Chris Smalls

  • Airline industry braces for prolonged recovery from coronavirus crisis
    Finance
    Reuters

    Airline industry braces for prolonged recovery from coronavirus crisis

    International seat capacity has dropped by almost 80% from a year ago and half the world's airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic. Carriers including United Airlines Holdings Inc and Air New Zealand Ltd

  • Irish 2020 GDP may fall by 8.3%, unemployment to hit 25% - central bank
    Finance
    Reuters

    Irish 2020 GDP may fall by 8.3%, unemployment to hit 25% - central bank

    Ireland's central bank said on Friday the shock to the Irish economy from the coronavirus pandemic could be greater than in any year of the financial crisis that brought the country to the brink of bankruptcy a decade ago. Unable to make a conventional forecast without knowing how long the crisis

  • Emergency loans for businesses struggling amid coronavirus crisis revamped after criticism
    News
    Evening Standard

    Emergency loans for businesses struggling amid coronavirus crisis revamped after criticism

    Rishi Sunak’s emergency loan scheme for businesses struggling to survive the coronavirus pandemic has been revamped after it faced strong criticism over access.

  • Twitter deletes 20,000 fake accounts linked to Saudi, Serbian and Egyptian governments
    Finance
    The Guardian

    Twitter deletes 20,000 fake accounts linked to Saudi, Serbian and Egyptian governments

    Twitter deletes 20,000 fake accounts linked to Saudi, Serbian and Egyptian governments. Accounts also linked to Honduras and Indonesia violated policy and were ‘targeted attempt to undermine the public conversation’

  • Britain’s high street stores suffer worst month on record
    Finance
    PA Media: Money

    Britain’s high street stores suffer worst month on record

    The latest monthly BDO high street sales tracker saw total like-for-like sales dive 17.9% for the month as shoppers stayed indoors.

  • Finance
    Reuters

    GM rolls out safety protocols for ventilator-making workers

    General Motors Co on Thursday rolled out a series of safety measures for workers in Indiana who will make ventilators, outlining what could be a blueprint for opening U.S. auto plants in the coming weeks. More than 1,000 GM workers will make the ventilators at GM's Kokomo, Indiana, plant. The

  • Disney to furlough some U.S. employees in wake of coronavirus
    Finance
    Reuters

    Disney to furlough some U.S. employees in wake of coronavirus

    Disney had committed to full pay and benefits for all employees through April 18 despite the closure of theme parks, halting of film and TV production, and the shuttering of movie theaters. "However, with no clear indication of when we can restart our businesses, we’re forced to make the difficult

  • Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal
    Finance
    Reuters

    Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal

    Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. Brent crude futures fell 3%, or 9 cents, to $29.05 as of