From Exxon Mobil Corp to Royal Caribbean Cruises Ltd, companies rushed to borrow more money and boost their cash coffers on Tuesday, as the market turmoil fueled by a plunge in oil prices and the global coronavirus outbreak raised the prospect of an economic downturn.
All of Italy under lockdown, reeling financial markets, and rioting prisoners made clear on Monday how the global coronavirus epidemic was extending its reach into all aspects of social and economic life.
Empty public squares, a ghostly train station, and deserted holy sites - a series of striking satellite images have revealed the impact of the coronavirus epidemic on some of the world's busiest spaces.
IMF chief Kristalina Georgieva on Wednesday called for an all-out, “no regrets” response to the new coronavirus epidemic which poses a “serious threat” to the global economy.
The death toll in the United States from the novel coronavirus rose to 11 on Wednesday, as lawmakers in Congress agreed to provide more than US$8 billion to fight the rapidly spreading disease.
Argentina and Chile both said on Tuesday they had confirmed their first case of the novel coronavirus in patients who recently returned from travels. A 43-year-old infected Argentine man had returned from Italy on March 1, while a 33-year-old Chilean man had spent a month in southeast Asia.
United States Treasury Secretary Steven Mnuchin told lawmakers on Tuesday that he supported the Federal Reserve’s decision to cut rates in a bid to support the economy amid the coronavirus outbreak.
The International Olympic Committee said on Tuesday it is confident this summer's Tokyo Games will open as scheduled in July amid concerns over possible disruptions caused by the current worldwide coronavirus outbreak.
The Federal Reserve on Tuesday cut interest rates amid concern about the potential economic toll of the coronavirus outbreak. The Federal Open Market Committee (FOMC), which sets Fed interest rates, announced it would cut its baseline rate range by 0.5 percentage points to a 1 to 1.25 percent spread.
Italy and Spain are adopting drastic measures regarding soccer matches because of concerns about the coronavirus outbreak. The Coppa Italia semi-final second leg match between Juventus and AC Milan in Turin on Wednesday has been postponed indefinitely because of concerns about the coronavirus outbreak, the ANSA news agency and other Italian media said on Tuesday.