Markets

NEW YORK: World oil prices crashed on Monday (Mar 9), fuelling a vicious selloff on stock markets which were already buckling from the spreading coronavirus outbreak. Stocks tanked as the global oil market nosedived 30 per cent at one stage after top exporter Saudi Arabia slashed the prices it...

Asian markets were set for a fraught session on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, piling pressure on policy makers globally to short-circuit the panic.

Australian Prime Minister Scott Morrison said on Tuesday the government would soon announce a package to stimulate an economy hammered by the effects of the coronavirus outbreak, but did not give financial details of the plan.

New Zealand's Commerce Commission said on Wednesday that it has issued a warning to HSBC Holdings Plc over its failure to comply with the information disclosure requirements.

WOONSOCKET, Rhode Island: CVS Health Corp said on Monday (Mar 9) it would immediately waive charges for home delivery of prescription medications, in response to the U.S. health agencies urging patients to stay at home amid a fast-spreading coronavirus outbreak. This follows the company's ...

WASHINGTON: The US Consumer Financial Protection Bureau (CFPB) said on Monday (Mar 9) it charged Fifth Third Bank, National Association, for creating fake client deposit and credit-card accounts and transferring clients' funds to those accounts without consent, citing an abuse of fair lending and ...

SINCE taking over as the euro zone's main banking supervisor, the European Central Bank has spearheaded efforts to reduce the amount of bad loans that had cumulated throughout the great recession and the euro zone sovereign debt crisis.

While no U.S. airlines have requested a bailout to date, the head of Hawaiian Airline said on Monday that it was difficult to predict what would happen in the weeks and months ahead for the industry as travelers cancel flights amid coronavirus uncertainty.

JPMorgan Chase & Co could eliminate up to 140 jobs in Switzerland in an effort to cut costs, a person familiar with the matter told Reuters on Monday, confirming a report by the Swiss financial news website Finews.

MILAN, Italy: Global luxury brands including Gucci and Louis Vuitton are scaling back orders with Italian suppliers, as the spread of the coronavirus from key market China to major manufacturing hub Italy hits business across the sector, industry sources said. Italy, home to scores of specialist ...