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Updated: 3 hours 27 min ago

S&P 500 heads for biggest ever first-quarter plunge

3 hours 50 min ago
Wall Street's major indexes fell on Tuesday and the S&P 500 was headed for a record first-quarter decline on growing evidence of large-scale economic damage from the coronavirus pandemic.

Dubai to support Emirates airline, halts tourist market to fight coronavirus

4 hours 17 min ago
Dubai said on Tuesday it would help its state-run Emirates airline mitigate the financial blow from the coronavirus outbreak as authorities enforced a full lockdown on a district famous for gold and spice markets.

Trump completes rollback of Obama-era vehicle fuel efficiency rules

4 hours 50 min ago
President Donald Trump's administration on Tuesday completed a rollback of vehicle emissions standards adopted under his predecessor Barack Obama and will require 1.5% annual increases in efficiency through 2026 - far weaker than the 5% increases in the discarded rules.

In policy shift, U.S. offers to lift Venezuela sanctions for power-sharing deal

4 hours 52 min ago
The Trump administration on Tuesday offered to begin lifting Venezuela sanctions if the opposition and members of President Nicolas Maduro's Socialist Party form an interim government without him, marking a shift in a U.S. policy that has failed to end his grip on power.

Garment exporter Bangladesh faces $6 billion hit as world retailers cancel orders

Tue, 03/31/2020 - 23:19
Bangladesh, the second-largest apparel producer after China, is set to lose roughly $6 billion in export revenue this financial year amid cancellations from some of the world's largest brands and retailers, two major industry bodies said on Tuesday.

Subsistence miners lose out as coronavirus crushes local gold prices

Tue, 03/31/2020 - 23:01
Informal gold miners from South America to Africa are selling gold at almost 40% discounts as measures to curb the coronavirus crimp supply routes and dry up funding.

Oil steady on U.S.-Russia energy talks but still near 18-year lows

Tue, 03/31/2020 - 22:48
Oil prices steadied on Tuesday, with the U.S. crude benchmark climbing off 18-year lows after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks on stabilising energy markets.

Canada, China talking to keep canola seed exports moving

Tue, 03/31/2020 - 22:46
Canada and China are in talks to ensure limited Canadian canola seed exports continue even as a year-long trade dispute remained.

Huawei warns China will strike back against new U.S. restrictions

Tue, 03/31/2020 - 22:46
Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States.

OPEC rift widens as group fails to set date for emergency talks

Tue, 03/31/2020 - 22:41
A rift in the Organization of the Petroleum Exporting Countries (OPEC) has widened after members failed to agree unanimously on an emergency low-level meeting to discuss a market collapse that has seen global oil prices hit 18-year lows.

Gold slides, but set for sixth straight quarterly gain

Tue, 03/31/2020 - 22:29
Gold prices dipped over 2% to their lowest in a week on Tuesday as the dollar firmed, but the metal was on track for a sixth straight quarterly rise on concerns of global economic damage due to the coronavirus pandemic.

Grounded cabin crew get hospital training as Sweden battles coronavirus

Tue, 03/31/2020 - 22:26
Furloughed crew from crisis-hit Scandinavian airline SAS are taking a three-day course in basic hospital duties to help plug gaps in a Swedish healthcare system strained by thousands of coronavirus cases.

Exclusive: American Airlines to retire more jets, including vintage 737s, in coronavirus downturn -sources

Tue, 03/31/2020 - 22:25
American Airlines Group Inc is set to sharply increase the number of jets it is planning to retire beyond its announced plans as it accelerates a fleet transformation to respond to the coronavirus crisis, people familiar with the matter said.

U.S. consumer confidence approaches three-year low

Tue, 03/31/2020 - 22:00
U.S. consumer confidence dropped to a near three-year low in March as households worried about the economy's near-term outlook amid the coronavirus pandemic, which has upended life for Americans.

Goldman Sachs slashes U.S. GDP estimate further

Tue, 03/31/2020 - 21:50
Goldman Sachs said on Tuesday the second-quarter U.S. economic decline would be much greater than it had previously forecast and unemployment would be higher, citing anecdotal evidence and "sky-high jobless claims numbers" resulting from the coronavirus pandemic.

Global stocks edge higher, but on pace for worst quarter since 2008

Tue, 03/31/2020 - 21:41
Global stock markets edged higher on Tuesday as investors assessed the economic damage from the coronavirus pandemic, while the MSCI benchmark of world equities was on pace to finish its worst quarter since the financial crisis of 2008.

Trump calls for $2 trillion infrastructure bill to help economy during coronavirus crisis

Tue, 03/31/2020 - 21:09
President Donald Trump on Tuesday said the U.S. Congress should pass a $2 trillion spending plan to update the country's roads, bridges and other infrastructure, calling for it to be included in the next bill lawmakers are currently drafting to respond to the coronavirus crisis, which they refer to as "Phase 4."

Graphic: Three months that shook global markets

Tue, 03/31/2020 - 20:56
How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.

Exclusive: Coronavirus stalls Chinese approvals of new Brazil meat exports

Tue, 03/31/2020 - 20:56
China has not approved any new Brazilian meat plants for export this year because of the coronavirus pandemic, an official at Brazil's Agriculture Ministry told Reuters, adding that all approvals were on hold until the crisis eases.

G20 coronavirus plan focuses on poorer countries' debt problems

Tue, 03/31/2020 - 20:52
The Group of 20 major economies said on Tuesday that they would present a coronavirus action plan in two weeks to address the debt vulnerabilities of the poorest countries and deliver financial aid to emerging economies.