Cars drive past the Marathon petroleum refinery in Carson, California

Wall Street opens lower ahead of Powell speech

Slideshow ( 2 images )(Reuters) – Wall Street’s main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress. The Dow Jones Industrial Average fell 19.8 points, or 0.06%, at the open to 31501.89. The S&P 500 fell 19.4 points, […]

BoE’s Broadbent moots temporary help for UK economy over coronavirus

By Andy Bruce LONDON (Reuters) – Bank of England Deputy Governor Ben Broadbent said on Wednesday that policymakers may need to give extra help to Britain’s businesses until the disruption from the coronavirus outbreak has passed. The virus could have a “very significant” impact on the economy, he said, although past episodes suggested this could […]

Global airlines’ estimated coronavirus losses rise to $314 billion: IATA

PARIS/LONDON (Reuters) – Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes. The latest forecast from the International Air Transport Association (IATA) is up from the $252 billion […]