Ethiopian investigators singled out faulty systems on a Boeing 737 MAX plane in an interim report on last year's Ethiopian Airlines crash that killed 157 people, piling pressure on the U.S. jetmaker on the eve of the disaster's anniversary.
Shares of U.S. banks sharply underperformed the broader stock market on Monday as investors bet tumbling interest rates would crush bank profits and worried about rising credit costs in the face of an economy spooked by coronavirus and plunging oil prices.
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.
Wall Street banks and brokers are in "robust" talks with regulators to secure rule-waivers that would allow thousands of traders to operate from home as the coronavirus spreads in New York, the chief executive of a top industry group told Reuters.
Trading in options on Wall Street's fear gauge was impossible in the first minutes of Monday's session due to a complete absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets Inc said.
An oil price plunge means the world's top energy companies will have to review promises to return billions to investors, either by slowing down share buybacks or reintroducing non-cash dividends, analysts said on Monday.
Twitter Inc announced a deal with Elliott Management and private equity firm Silver Lake on Monday, handing both board seats after a month in which activist investors were said to be pushing for the removal of Chief Executive Officer Jack Dorsey.
Apple sold fewer than half a million smartphones in China in February, government data showed on Monday, as the coronavirus outbreak crippled demand.
Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22per cent slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
REUTERS: Shares of Boeing Co dropped 12per cent on Monday after the planemaker's proposal to leave wiring bundles in place on the grounded 737 MAX failed to get the backing of U.S. aviation regulators, potentially delaying the plane's return to service. Boeing shares were down at US$231.60 in ......
