An English ten Pound note is seen in an illustration

U.S. economy grows steadily in fourth-quarter, but coronavirus looms large

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy grew moderately in the fourth quarter, the government confirmed, and is facing a bumpy road in early 2020 amid the fast-spreading coronavirus that has left financial markets fearing a recession. Though other data on Thursday suggested some stabilizing in business investment in January and the labor […]

L Brands temporarily closes stores, draws down $950 million from existing credit line

(Reuters) – L Brands Inc <LB.N> said on Tuesday it would temporarily close all its stores, including those of Bath & Body Works and Victoria’s Secret, in the United States and Canada through March 29 and that it has drawn down $950 million from an existing credit line due to the coronavirus outbreak. The company […]

Merkel open to bigger EU budget, bonds to finance post-crisis recovery

By Michael Nienaber and Andreas Rinke BERLIN (Reuters) – German Chancellor Angela Merkel signalled readiness on Monday to finance economic recovery in Europe from the coronavirus pandemic through a bigger European Union budget and the issuance of joint debt via the European Commission. EU leaders are to discuss the heated topic of jointly issued debt […]