Monday 23 March 2020

Daily Investor Update: Crude edges higher, U.S. gasoline slumps over 30% on sinking demand

Reuters.com Newsletter

Crude edges higher, U.S. gasoline slumps over 30% on sinking demand

Oil prices inched higher on Monday, while U.S. gasoline prices plunged more than 30% to a record low as global restrictions on travel to slow the spread of coronavirus destroyed demand for fuel.

Airbus sees airlines seeking to defer or cancel orders

Airbus said in a stock market filing on Monday that customers could seek to cancel or postpone delivery of airliners and helicopters as the coronavirus crisis continues to escalate.

Boeing suspending Washington state production due to coronavirus risks

Boeing Co said on Monday it would halt production at its Washington state twin-aisle jetliner factory as a temporary measure to help fight the coronavirus outbreak.

GM accelerates 'Project V' to build ventilators in Indiana

General Motors Co and medical equipment maker Ventec are speeding up efforts under a partnership code-named "Project V" to build ventilators at a GM plant in Kokomo, Indiana, to help combat the coronavirus outbreak.

U.S. SEC warns against illegal trading during coronavirus disruption

U.S. Securities and Exchange Commission officials on Monday warned corporate insiders against insider trading during the disruptions caused by the coronavirus.

U.S. Fed aims 'bazooka' to backstop coronavirus-hit economy

The U.S. Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on commerce that scientists say are needed to slow the coronavirus pandemic and ultimately keep more people safe.

Fed alone can't stop coronavirus selloff, investors say, as stocks tumble again

The Federal Reserve's unprecedented stimulus measures did little to brighten Wall Street's immediate outlook on coronavirus-ravaged stocks, as concerns remained about the lack of a government stimulus package and the ability to contain the pandemic.

PG&E to plead guilty to 84 involuntary manslaughter counts over 2018 wildfire

Pacific Gas & Electric has agreed to plead guilty to 84 involuntary manslaughter counts in connection with the 2018 Camp Fire, the most destructive wildfire in California's history.

U.S. businesses see big hit from coronavirus, Fed survey shows

U.S. businesses expect a "very large and very negative impact" from the coronavirus pandemic and efforts to slow its spread, according to a survey published on Monday by the Atlanta Federal Reserve Bank.

Historic Fed boost fails to stop Wall Street's virus driven sell-off

Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy.

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