Bloomberg US banks may be downgraded by Moody’s Investors Service in wake of Federal Reserve’s rate cut and as the worldwide coronavirus pandemic rattles markets. The outlook for lenders was changed to negative from stable, Moody’s said. Moody’s cited “the growing strain on banks’ operating environment and asset risk from the coronavirus disruption of economic and business activity.” Major US …

Bloomberg Andrew Bailey knows a few things about crises, which should put him good stead when he took the helm of the Bank of England as it tries to stave off recession triggered by the coronavirus pandemic. The 60-year-old is already in the heart of the action. Just hours before he officially started, he was part of a coordinated move …

Bloomberg Scott Kirby, the president of United Airlines Holdings Inc, described a “dire scenario” in which monthly sales would plunge 70% until the start of June, then 60% that month and 40% in July and August. That outlook, it soon became clear, was too optimistic with the coronavirus pandemic destroying virtually all demand for travel. Airlines and their labour unions …