Fiat Chrysler temporarily halts some Italian plants to battle virus

MILAN (Reuters) – Fiat Chrysler (FCHA.MI) is temporarily halting operations at some plants in Italy and will reduce production rates in response to the coronavirus outbreak in the country, the largest in Europe, a spokesman for the automaker said on Wednesday. Fiat Chrysler (FCA) said in a statement it had stepped up measures across its facilities, including intensive sanitisation of […]

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Factbox: U.S. coronavirus stimulus according to Trump, Republicans, and Democrats

WASHINGTON (Reuters) – President Donald Trump met with fellow Republicans in the U.S. Senate on Tuesday to discuss a fiscal stimulus plan to bolster the nation’s economy in the face of the coronavirus outbreak. Any plan the White House introduces will need to be approved by both houses of the U.S. Congress. Expect Democrats, who control the House of Representatives, […]

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Stocks fall as U.S. virus response disappoints investors

TOKYO (Reuters) – Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally. Markets had been recovering from a brutal global selloff on Monday that was triggered by the double shock of an oil price crash and the worsening outbreak. Those […]

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Wall Street advances as stimulus hopes calm recession fears

NEW YORK (Reuters) – Wall Street reversed course on Tuesday, pulling back from the brink of bear market confirmation as bargain hunting and stimulus hopes calmed investors’ fears of recession and uncertainties surrounding the coronavirus. All three major indexes advanced the day after equities markets suffered their biggest one-day losses since the 2008 financial crisis. The S&P 500 and the […]

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Fidelity names veteran Maggie Serravalli as CFO

(Reuters) – Fidelity Investments named company veteran Maggie Serravalli as chief financial officer, replacing Gerard McGraw, according to a note viewed by Reuters. Serravalli, 58, has been with the investment manager for 13 years and will oversee finance as well as tax, treasury, human resources, real estate, government relations and corporate communications teams, Chairman Abigail Johnson wrote in the note […]

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