The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed as it continues to spread across the world. Here is a look at some of the latest developments Thursday related to the global economy, particular economic sectors, and the workplace:
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed as it continues to spread across the world. Here is a look at some of the latest developments Wednesday related to the global economy, particular economic sectors, and the workplace:
SIOUX FALLS (AP) -- Raven Industries Inc. (RAVN) on Monday reported fiscal fourth-quarter net income of $3.3 million.
BANKGOK (AP) -- The Japanese technology and telecoms company SoftBank said Monday it plans to buy back up to 4.5 trillion yen ($41 billion) of its assets as it seeks to trim its gigantic debt burden.
DETROIT (AP) -- The National Transportation Safety Board says two drivers, Tesla and lax regulation of new partially automated driving systems are to blame for a fatal 2019 crash in Florida involving a Tesla on Autopilot.
The number of confirmed cases of the new coronavirus worldwide surpassed 200,000 for the first time Wednesday and the damage being seeded in the global economy is growing more clear by the day. Furloughs and job cuts, from dog walkers to oilfield workers, have begun. Governments around the world are pushing drastic countermeasures to help workers, particularly those who live paycheck to paycheck.
FRANKFURT, Germany (AP) -- Volkswagen said Tuesday it would close most of its European plants for two weeks due to uncertainty about demand for cars and supplies of parts amid the virus outbreak and said it wasn't possible to give a reliable outlook for this year's profits.
Global markets and businesses big and small opened the week to a landscape seemingly altered by the coronavirus pandemic. National retail chains have closed all stores. Banks are taking steps to keep cash on hand, lots of it. Markets in Asia, Europe and the U.S. are plunging. Following is a quick look at how the outbreak is impacting the financial and business sector, as well as millions of workers and customers.
Seven weeks after the first case of COVID-19 was confirmed in the U.S., the outbreak is now classified as a pandemic and it's doing widespread damage to critical economic sectors of the global economy. Airlines are dropping routes because people are not flying, workers are staying home, public events that raise millions of dollars for local communities have been canceled and oil prices have sunk to near $30 a barrel. Here's a look at some of the hardest hit sectors in the S&P 500, and how far they've fallen in the past 30 days.
NEW YORK (AP) -- PepsiCo is buying the energy drink maker Rockstar Energy Beverages for $3.85 billion.
Seven weeks after the first case of COVID-19 was confirmed in the U.S., the spread of the virus that causes the disease has done widespread damage to critical economic sectors in the country. Airlines are cutting capacity, people are working from home, major public events that raise millions of dollars for local communities have been cancelled, including this year's St. Patrick's Day parade in Boston. The Associated Press is publishing a running tally of the affects of the coronavirus on people, businesses, and the economy.
NEW YORK (AP) -- U.S. companies buffeted by supply chain chaos and a growing awareness of the scope of a viral outbreak are facing new threats to begin the week. An oil war between Saudi Arabia and Russia sent the price for a barrel of U.S. crude below $34. Typically, falling energy prices are good for markets and for businesses. However, in times of economic duress, energy prices come to be seen as a barometer of the global economy overall. That appeared to be what happened Monday with crude prices suffering the largest single-day decline since the days following the Sept. 11 attacks. Here are some of the developments that are affecting businesses and potentially, the economy as a whole.
VIENNA (AP) -- OPEC and key ally Russia failed to agree Friday on a cut to oil production that would have contained the plunge in the price of crude caused by the new coronavirus outbreak's massive disruption to world business.
The average rate on a 30-year fixed mortgage has hit a record low of 3.29%, driven down by investors shifting money into the safety of U.S. Treasurys as the coronavirus outbreak has deepened.
NEW YORK (AP) -- Simon & Schuster, the publisher of such authors as Stephen King and Bob Woodward, is up for sale.
NEW YORK (AP) -- PUBLIC FORUMS: The 189-nation International Monetary Fund and its sister lending organization, the World Bank, announced Tuesday that they will replace their regular spring meetings in Washington with a "virtual format" in response to the coronavirus.
Fear of the spreading coronavirus has led to a global run on sales of face masks despite evidence that most people who aren't sick don't need to wear them.
LONDON (AP) -- Stock markets are heading for their worst week since 2008, Europe's top auto show has been canceled and companies keep lowering their earnings estimates. Here's a look at the latest developments:
NEW YORK (AP) -- Starbucks customers in Canada will soon be able to down fake meat with their Frappuccinos.
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