 | | | | U.S. Treasury Secretary Steven Mnuchin has stepped into the breach as the Trump administration's point man to rescue the economy from coronavirus devastation, taking on the role his former Goldman Sachs boss, Hank Paulson, played over a decade ago. | | | | | | The world's richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicentre Europe, with the number of deaths in Italy outstripping those in mainland China, where the virus originated. | | | | | | Coronavirus can sicken or kill young people as well and they must also avoid mingling and spreading it to older and more vulnerable people, the World Health Organization said on Friday. | | | | | | Wall Street retreated on Friday after New York ordered residents to stay home, rattling investors who had welcomed this week's fiscal and monetary measures to counter the coronavirus shock and help revive the safe-haven appeal of bonds and gold. | | | | | | Global airline capacity may fall up to 35% this year, hamper credit quality of many airlines and push the weaker ones to default, credit ratings agency Moody's said on Friday, as a drop in demand due to the coronavirus leads to cancelled flights. | | | | | | Spanish authorities said on Friday they would turn a Madrid conference centre into a giant military hospital for coronavirus patients, as Europe's second-worst outbreak claimed another 235 lives and the government warned the worst days lay ahead. | | | | | | Bank of America Corp's consumer division has hired 1,700 people in critical support roles so far this month, a spokesman said on Friday, as the industry faces a surge in customer service demand due to concerns about the coronavirus outbreak. | | | | | | The U.S. Federal Reserve continued to roll out emergency support on Friday as it enhanced efforts with other major central banks to ease a global dollar-funding crunch, backstopped a market essential for U.S. state and local government finances and ramped up its purchases of mortgage-backed securities. | | | | | | Negotiations between Bayer AG and plaintiff lawyers to settle claims its glyphosate-based weedkillers cause cancer have been slowed by the coronavirus outbreak, according to the mediator in the talks. | | | | | | United Airlines Holdings Inc warned on Friday it will begin taking steps to reduce its payroll to match a 60% schedule reduction planned for April "if Congress does not act on sufficient government support by the end of March." | | | | | |
