Markets

Coronavirus may give this decline another push, but there is an irreducible minimum of travel that business people need to do and that is unlikely to disappear, says the Financial Times’ Michael Skapinker.

NEW YORK: Wall Street stocks suffered another bruising rout on Wednesday (Mar 11), with the Dow sinking into a bear market, as the economic toll from the coronavirus mounts with more major event cancellations. The latest announcements included the cancellation of the Houston Rodeo and the World ...

Fears of a U.S. sales slowdown in auto showrooms due to the coronavirus outbreak that has spread globally are appearing in analysts' forecasts, but industry executives said the pandemic has yet to affect demand or factory production.

Boeing Co plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday.

JEFFERIES Research on Wednesday upgraded OCBC to a "buy" amid the recent sell-down on Singapore banks, arguing as well that the local trio have historically resilient earnings and dividend cushion.

PRUDENTIAL has unveiled plans to list its US unit Jackson National Life, two weeks after billionaire activist hedge fund manager Daniel Loeb called on the board of the giant insurance group to separate its Asian and US businesses.

Retailer Best Buy Co Inc said on Wednesday Executive Chairman Hubert Joly would step down and will not stand for re-election at the shareholder meeting on June 11.

Sporting goods retailer Modell's Sporting Goods filed for Chapter 11 protection in the U.S. bankruptcy court in New Jersey on Wednesday, citing a challenging retail environment.

Leading U.S. bank executives in a meeting with President Donald Trump at the White House said banks are strongly capitalized and prepared to help small businesses and American consumers weather the coronavirus outbreak.

Private equity firm Blackstone Group Inc is asking companies it controls to draw down their credit lines to avoid liquidity crunch, a Bloomberg reporter tweeted on Wednesday, citing people familiar with the matter.