China's largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely big enough to weather any fallout.
Britain has ordered more than 10,000 ventilators from a consortium of leading aerospace, engineering and technology companies, with production to begin this week.
British low cost airline easyJet said it had grounded its entire fleet and reached a deal with its cabin crew for employees to be furloughed for two months under a government job retention scheme.
SINGAPORE: With the unprecedented economic crisis caused by the COVID-19 pandemic, struggling companies considering wage cuts should have their management teams lead by example, the National Wages Council (NWC) said on Monday (Mar 30). Its recommendation came after official estimates released ...
Chinese automaker BAIC Group and ride-hailing service provider Didi Chuxing plan to team up with other industry players to lease BAIC's cars to customers amid concerns about ride hailing and vehicle sharing eating into car sales.
China's central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan ($7 billion) into the financial system to help the world's second-largest economy weather the coronavirus impact.
The Federal Reserve has offered more than US$3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and other borrowers with less than perfect credit....
Major U.S. airlines asked the U.S. Treasury to move quickly to release up to US$58 billion in government grants and loans and recommended a formula to divide up the money.
President Donald Trump, who excoriated General Motors Co on Friday and invoked emergency powers to compel the production of badly needed ventilators to tackle the coronavirus pandemic, has abruptly shifted gears to praise the automaker.
SINGAPORE: Nominations are now open for the inaugural Singapore 100 Women in Tech list, it was announced on Monday (Mar 30). Part of the SG Women in Tech initiative, the list aims to feature the diversity of roles and "highlight female role models" in the local infocomm technology industry....
