FRANKFURT (Reuters) – Germany is in talks to provide Lufthansa (LHAG.DE) with billions of euros in state aid and could take a stake in the airline, which has grounded more than 90% of its fleet due to the coronavirus pandemic, people close to the matter said. FILE PHOTO: Planes of German carrier…
Aerospace suppliers face bailout dilemma over job cuts
MONTREAL/CHICAGO (Reuters) – Aerospace suppliers are drawing up plans to lay off workers as coronavirus quarantines cripple their cash balances – but bailout conditions and fears of losing critical skilled labor are forcing managements to juggle survival and future growth. FILE PHOTO: Wings are transported at the Boeing Everett Factory after Boeing…
BlackRock, Schroders suspend UK real estate funds
FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid//File Photo LONDON (Reuters) – Investment managers BlackRock (BLK.N) and Schroders (SDR.L) have suspended trading in UK real estate…
Under Modi, India’s Press Is Not So Free Anymore
NEW DELHI — The Media One anchorman Vinesh Kunhiraman went on air as usual on March 6, ready to tell the station’s five million viewers in India’s Kerala State about the death anniversary of a beloved comedian and the latest news on the coronavirus pandemic. Just a few minutes into the broadcast,…
Women Dominate Booker International Prize Shortlist
LONDON — For the second year running, five of the six shortlisted novels for the International Booker Prize are by women. The contenders for the award, arguably the most significant prize for literature translated into English, were announced in London on Thursday. Among the books in the running are the Japanese author…
E.U. Court Rules 3 Countries Violated Deal on Refugee Quotas
BRUSSELS — The European Court of Justice ruled on Thursday that Poland, Hungary and the Czech Republic had violated their obligations by refusing to take in their fair share of asylum seekers at the height of the refugee crisis in 2015. The court’s ruling, which is final, said that the three Eastern…
Factory activity plunges as coronavirus shock deepens
LONDON/TOKYO (Reuters) – Factories fell quiet across most of Europe and Asia in March as the coronavirus pandemic paralyzed economic activity, with evidence mounting that the world is sliding into deep recession. FILE PHOTO: A worker welds at a market under construction in Kunming, Yunnan province, August 12, 2015. REUTERS/Wong Campion Manufacturing…
Dollar rallies as investors brace for global downturn
LONDON (Reuters) – The dollar rallied against riskier currencies on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions for decades as the world confronted the coronavirus pandemic. FILE PHOTO: One hundred dollar notes are seen in this photo illustration at a bank in Seoul,…
Markets fall as virus woes strike again
LONDON (Reuters) – World markets fell on Wednesday as the coronavirus threat ensured an ugly start to the second quarter for equities and commodities. Traders headed for the safety of government bonds, the dollar and gold as evidence continued to mount that the virus was sending the global economy into a deep…
Futures tumble as coronavirus crisis intensifies
(Reuters) – Wall Street was set to open sharply lower on Wednesday, as dire predictions on the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets. FILE PHOTO: A trader wears a face mask on the floor of the New York Stock…
Glencore’s chrome joint venture in South Africa with Merafe declares force majeure
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann LONDON (Reuters) – Glencore’s (GLEN.L) chrome joint venture in South Africa with Merafe Resources (MRFJ.J) has declared force majeure on qualifying contracts after a nationwide lockdown forced operations…
Oilfield spending to fall 21% as producers slash outlays: report
(Reuters) – Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending. FILE PHOTO: A pump jack operates in…
Oil falls to $25 as oversupply fears mount with U.S. inventory rise
LONDON (Reuters) – Oil fell towards $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns. General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden,…
Chinese buyers snap up U.S. oil purchases at widest discounts ever
SINGAPORE (Reuters) – China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday. FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland,…
Oil majors slash 2020 spending by 20% after prices slump
LONDON (Reuters) – The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia. FILE PHOTO: The sun is seen behind a crude…
Tariff pain turns to gain: U.S. computer, toy stockpiles help meet virus rush
OAKLAND, California (Reuters) – As the coronavirus outbreak forced classes online, Boston Public Schools ordered 20,000 laptops and had them in hand in four days – an unusually fast turnaround made possible by a build-up of inventory prompted by the U.S.-China trade war. FILE PHOTO: A 4th grader at Cottage Lake Elementary…
It’s April Fools’ Day, So a K-Pop Star Pulled a Coronavirus Prank
For most people, the coronavirus is no laughing matter. But the Korean star known as Jaejoong of the K-pop group JYJ decided to pretend to have the virus on Wednesday in a misfired attempt at an April Fools’ Day joke. He made the claim on his Instagram account, which had nearly two…