DETROIT (Reuters) – Ford Motor Co said on Monday it will produce 50,000 ventilators over the next 100 days at a plant in Michigan in cooperation with General Electric’s healthcare unit, and can then build 30,000 per month as needed to treat patients afflicted with the coronavirus. Ford said the simplified ventilator…
Month: March 2020
Explainer: What the Federal Reserve has done in the coronavirus crisis
(Reuters) – The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including slashing rates to zero and relaunching large-scale asset purchases. FILE…
U.S. proposes minimum air service rules for airlines receiving assistance
FILE PHOTO: Delta Airlines planes and a British Airways plane (2nd L) are pictured at Seattle-Tacoma International Airport, on the day Delta CEO Ed Bastian told employees he was cutting 40% of capacity in the coming months, the largest in the airline’s history, in addition to pursuing aid, in SeaTac, Washington, U.S.…
S&P 500 set for worst first quarter since 1938
(Reuters) – Wall Street was set to open lower on Tuesday, with the S&P 500 headed for its worst first quarter since 1938 as evidence grew of the scale of the damage caused by the collapse in oil prices and business activity due to the coronavirus. FILE PHOTO: Traders work on the…
Global M&A dwindles as coronavirus batters world’s economies
LONDON/NEW YORK (Reuters) – Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers. FILE PHOTO: Test tube with fake blood labelled with…
Ford delays North American production restart over coronavirus concerns
FILE PHOTO: FILE PHOTO: The front grill logo of a Ford pickup truck is seen in this photo taken in Carlsbad, California November 5, 2014 REUTERS/Mike Blake/File Photo (Reuters) – Ford Motor Co (F.N) said on Tuesday it was postponing its plan to restart production at its North America plants due to…
Huawei warns China will strike back against new U.S. restrictions
SHENZHEN, China (Reuters) – Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States. FILE PHOTO: A Huawei company logo is pictured at…
Google Japan defends impartiality of search results amid lockdown rumors
FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay/File Photo TOKYO (Reuters) – Google (GOOGL.O) on Tuesday defended the impartiality of its search results after users in Japan seeking to corroborate rumors of an imminent state of emergency declaration…
Disney+ to launch in India on April 3: ET
FILE PHOTO: A man looks at his phone as he passes by a screen advertising Walt Disney’s streaming service Disney+ in New York City, U.S., November 12, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – Walt Disney Co’s (DIS.N) video streaming service, Disney+, will launch in India on April 3 through its local partner…
IMF extends bilateral borrowing arrangements through 2023
FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File Photo WASHINGTON (Reuters) – The International Monetary Fund said on Tuesday its board approved a new, three-year framework for bilateral borrowing agreements, ensuring that its full…
Coronavirus, Stay-at-Home, Zoom: Your Tuesday Briefing
(Want to get this briefing by email? Here’s the sign-up.) Good morning. We’re covering expanding stay-at-home orders in the U.S. and a privacy investigation involving Zoom, the videoconferencing app. The late-night comedy shows returned on Monday, at least for one night, so our roundup has, too. Image A field hospital has been…
In Search of Zambia’s Stunning Wildlife: A Virtual Safari
With travel restrictions in place worldwide, we’re turning to photojournalists who can help transport you, virtually, to some of our planet’s most beautiful and intriguing places. We’re calling this new series “The World Through a Lens.” This week, the photographer Marcus Westberg shares a collection of wildlife photographs from Zambia, which he’s…
U.S. Counts on Global Crises to Press Again for Power Shift in Venezuela
WASHINGTON — The United States is seizing on Venezuela’s economic pain and the coronavirus threat to push a new plan for a power-sharing government in Caracas until presidential elections can be held this year. The proposal, to be released on Tuesday in Washington, offers to ease American sanctions intended to pressure President…
EasyJet grounds fleet as pandemic pushes airlines to the brink
LONDON (Reuters) – British budget airline easyJet (EZJ.L) has grounded its fleet of 344 planes and has no clear idea when it might resume flights, it said on Monday, highlighting the strain on airlines trying to survive the coronavirus pandemic. FILE PHOTO: EasyJet airplanes are pictured at Tegel airport in Berlin, Germany,…
China’s big banks flag asset pressure due to virus, boding ill for smaller kin
BEIJING/SHANGHAI (Reuters) – China’s largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely big enough to weather any fallout. FILE PHOTO: A sanitation worker wearing a face mask…
Activist investor makes new push for HC2 board to remove chief Falcone: letter
BOSTON (Reuters) – An activist investor is stepping up calls for the board of HC2 Holdings Inc (HCHC.N) to remove Chief Executive and Chairman Philip Falcone as the former hedge fund manager faces mounting legal and financial troubles. FILE PHOTO: Philip Falcone, chief executive officer and chief investment officer for Harbinger Capital…
Mylan offers concessions to address EU concerns about Pfizer deal
FILE PHOTO: A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 29, 2019. REUTERS/Brendan McDermid BRUSSELS (Reuters) – Generic drugmaker Mylan NV (MYL.O) has offered concessions to address European Union antitrust concerns about its bid for Pfizer’s…
Oil plunges to 2002 lows, shares sink again
LONDON/SYDNEY (Reuters) – Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months. FILE PHOTO: A long exposure image shows the movement of a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S.,…
Wall Street set to open higher as investors weigh stimulus against shutdown
(Reuters) – Wall Street was set to open slightly higher on Monday as President Donald Trump followed last week’s massive fiscal stimulus by extending his stay-at-home guidelines, leaving investors guessing at their economic impact. NYSE-AMEX Options floor traders from TradeMas Inc. work in an off-site trading office built when the New York…
Facebook commits $100 million to support news media hurt by virus crisis
FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Facebook Inc (FB.O) on Monday pledged $100 million in financing and advertising spending to support news organizations, including local publishers in the United States, reeling from pressure due to the…