NEW YORK (Reuters) – The dollar weakened and the Dow Jones industrials entered bear market territory on Wednesday on mounting worries about the global economy after world health officials declared a coronavirus pandemic and Reuters
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Cost of General Electric credit insurance rises along with coronavirus concerns
NEW YORK (Reuters) – The cost to insure General Electric Co (GE.N) debt has shot up to levels last seen in 2018, possibly reflecting concern about the company’s exposure to coronavirus-induced declines in interest rates,
Read moreMorrisons slashes the price of 500 everyday grocery products in store and online
Morrisons has announced today that it has cut the price of more than 500 of its most popular products in store and online in a bid to help customers save money on their weekly shop.
Read moreWall Street pounded by growth fears as Boeing slumps
(Reuters) – U.S. stock indexes tumbled on Wednesday as investors worried over the absence of immediate measures from President Donald Trump’s administration to counter the economic fallout from the coronavirus outbreak. The Dow Jones Industrial
Read moreU.S. senator says Trump administration mulling use of oil reserve to help crude producers
WASHINGTON (Reuters) – U.S. Senator John Thune said on Wednesday he believes the Trump administration is evaluating use of the Strategic Petroleum Reserve, and other measures, to help oil producers deal with the plunge in
Read moreBoeing to draw down billions in loan cash as pressure builds
(Reuters) – Boeing Co (BA.N) is planning to draw down the rest of a $13.8 billion loan it agreed last month, a source told Reuters on Wednesday, as the coronavirus outbreak adds to pressure on
Read moreBoeing plans full drawdown of $13.8 billion loan: Bloomberg News
(Reuters) – Boeing Co (BA.N) is planning a full drawdown of a $13.8 billion loan as early as Friday, as the U.S. based plane-maker struggles with worldwide travel disruptions from the coronavirus, Bloomberg reported on
Read moreUAE joins Saudi in opening oil taps as row with Russia slams crude prices
DUBAI (Reuters) – The United Arab Emirates followed Saudi Arabia on Wednesday in promising to raise oil output to a record high in April, as the two OPEC producers raised the stakes in a standoff
Read moreTelefonica, TIM plan joint bid for Oi's mobile business in Brazil
BRASILIA (Reuters) – Shares in Telefonica Brasil SA (VIVT4.SA) and TIM Participações SA (TIMP3.SA) rose in the morning trading as both companies said they are planning a joint offer to buy the mobile unit of
Read moreStock rebound runs out of steam despite emergency BoE cut
LONDON (Reuters) – The rebound in stocks ran out of steam on Wednesday despite the Bank of England joining other central banks in cutting interest rates, as investors weighed up whether coordinated monetary and fiscal
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