Former U.N. ambassador Nikki Haley leaves Boeing board, opposing federal aid

(Reuters) – Boeing Co said on Thursday that former U.N. ambassador Nikki Haley has resigned from its board as she opposes the planemaker’s move to seek financial aid from the federal government amid the 737 MAX and the coronavirus crisis. “I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company […]

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Tesla U.S. vehicle factory to suspend production due to coronavirus

(Reuters) – Tesla Inc (TSLA.O) will suspend production at its California vehicle factory beginning on March 24 to comply with local orders aimed at curbing the spread of coronavirus, the company said on Thursday. The company said its New York factory will also temporarily suspend production, while operations at its Nevada plant will continue. “Despite taking all known health precautions, […]

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U.S., European stocks up after earlier losses, dollar gains, as central banks act

WASHINGTON/LONDON (Reuters) – European and U.S. stocks climbed on Thursday, recovering from earlier losses, in a sign of tentatively more stable markets, as central banks across the world moved to stem a coronavirus-induced financial rout in moves that boosted bonds and provide more access to the dollar. The U.S. Federal Reserve opened the taps for central banks in nine countries […]

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Coronavirus layoffs push U.S. weekly jobless claims to two-and-a-half-year high

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high last week, as companies in the services sectors laid off workers because of the coronavirus pandemic. The deterioration in the most timely labor market indicator, reported by the Labor Department on Thursday, offered a glimpse of what lies ahead […]

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America's money market industry: is it at risk?

NEW YORK (Reuters) – Seen as a quintessentially safe bet for many Americans, the $3.8 trillion money-market fund industry is under severe duress for a second time in the past decade as investors weigh the risk of a global economic shutdown. U.S. Treasury Secretary Stephen Mnuchin said the money market industry is “critical to Americans”. The U.S. Federal Reserve on […]

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Futures fall again as recession fears rage on

(Reuters) – U.S. stock index futures fell for the third time this week on Thursday as sweeping emergency action from policymakers across the globe failed to convince panic-stricken equity markets that a coronavirus-driven global recession could be averted. The meltdown in global markets, which has brought back memories of the 2008 financial crisis, has pushed Wall Street’s three main indexes […]

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Dollar surges, stocks fall as ECB fails to stop panic

SINGAPORE (Reuters) – The dollar surged, bonds plunged and global markets struggled to find their footing on Thursday as the European Central Bank’s latest promise of stimulus provided only brief solace while the world struggles to contain the coronavirus pandemic. U.S. stock futures EScv1 fell 2%. The Australian dollar was crushed, falling 3.3% to a more than 17-year low, and […]

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