Daily Investor Update: Singapore Airlines taps investors for up to $10.5 billion amid coronavirus shock

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Daily Investor Update Your Daily Briefing       Tweet       Share Singapore Airlines taps investors for up to $10.5 billion amid coronavirus shock Singapore Airlines (SIA) is tapping existing investors for up to S$15 billion ($10.48 billion) through the sale of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak. Oil sheds more than $1 as weakening demand outweighs stimulus hopes Oil prices dropped more than $1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion U.S. stimulus package will bolster economic activity. Senate passes $2 trillion bill for 'strange and evil' coronavirus crisis The U.S. Senate on Wednesday unanimously backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment. Factbox: Latest on the spread of the coronavirus around the world Coronavirus cases across the globe jumped on Thursday as Japan planned to set up a special virus task force and New Zealand went under lockdown. The U.S. Senate unanimously backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the epidemic. Exclusive: Ross Stores tells vendors it will cancel merchandise orders through mid-June Ross Stores Inc said in a letter to vendors on Thursday it would cancel all merchandise purchase orders through June 18 due to the impact the coronavirus has had on its business. To avoid a repeat of 2008, Main Street America says help needs to be fast Small businesses in the United States say promised help from the federal government and the Federal Reserve is welcome news in the battle to stay afloat through the coronavirus crisis, but needs to hit their bank accounts fast if it's to make a difference as they barter with landlords, hold onto tax receipts, haggle with vendors and hope furloughed staff can get by on unemployment aid. Two Tesla employees test positive for coronavirus: company email Two employees of Tesla Inc have tested positive for coronavirus but have been working from home for the past two weeks and had not been symptomatic at work, Tesla said in an email to employees on Thursday. World's ailing airlines appeal for aid as U.S. offers $58 billion Global airlines urged the world's major economies to act quickly to prevent irreversible damage to an industry that has seen demand decimated almost overnight by the coronavirus crisis. Wall St. rallies for third day as investors focus on stimulus Wall Street rallied for a third straight session on Thursday as record weekly jobless claims came in below investors' worst fears and investors focused on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives. Deutsche Bank studies state aid for staff in coronavirus crisis Deutsche Bank is for the first time considering asking its German staff to cut their hours and take government money instead as it tries to navigate the coronavirus crisis. Related Videos Dow posts biggest one-day gain since 1933 Business Virus has global economy headed for plunge Business Introducing the all-new Reuters News app The new Reuters News app is here, redesigned from the ground up to fit your busy life. Get it now on iOS Your world. Your news. More Newsletters Get Reuters News App Get Reuters TV App               © 2020 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036 Email Preferences    |   Privacy Policy    |   Terms and Conditions