Bloomberg Target Corp is boosting hourly wages, expanding its paid-leave policy and delivering bonuses to thousands of store employees, the latest move by a major retailer to reward rank-and-file staff for coping with the coronavirus. The cheap-chic retailer said it’s raising hourly pay by $2 until at least May 2, and offering paid sick leave of up to 30 days …

Bloomberg Oil prices plunged below $24 a barrel for the first time in almost 18 years after Saudi Arabia doubled down in its price war with Russia, vowing to keep production at a record high “over the coming months.” For the last 10 days, Riyadh has issued nearly daily statements raising the stakes in its battle with Moscow, first announcing …

Bloomberg European banks took $130 billion made available by the US Federal Reserve on Wednesday, helping ease the funding stress from the coronavirus pandemic. Lenders from the euro zone borrowed the bulk of the money — $112 billion in operations coordinated by the European Central Bank (ECB). That’s the biggest use of the crisis-era swap lines since the global financial …

Bloomberg Tenova SpA, a unit of the Italian billionaire Paolo Rocca’s Techint Group, has appointed legal and forensic-accountancy firms to assess its dealings with South Africa’s Eskom Holdings SOC Ltd after identifying payments that caused the company “concern.” A contract between the mining and manufacturing-services provider and state-owned Eskom is one of a number of agreements, including ones frm Alstom …

Bloomberg US equity futures declined along with European stocks on Wednesday, retracing moves from a day earlier while bonds slumped as traders weigh the impact of fiscal and monetary stimulus to counter the effect of the coronavirus. Oil dropped to a 17-year low. Contracts for the S&P 500 once again hit their lower trading curbs after the gauge jumped 6% …

Bloomberg Indian equities declined anew, with the benchmark index tumbling to a three-year low, as worries mounted that the world’s second-most populous nation could become the next global hotspot for coronavirus infections, further damaging an already fragile economy. The S&P BSE Sensex slumped 5.6% to 28,869.51 to its lowest level since March 2017, marking a third straight session that ended …

Bloomberg Pressure is intensifying on the Swiss National Bank (SNB) to join policy makers around the world who’ve cut interest rates and increased stimulus in response to the coronavirus (Covid-19) outbreak. The central bank hasn’t dropped a bombshell so far this year, despite the franc being at a five-year high against the euro. Instead, data suggest it’s relied on occasional …

Bloomberg The World Bank is boosting its coronavirus response package by $2 billion with funds from the International Finance Corporation, its lender to the private sector. The IFC’s planned funds are in addition to the $12 billion announced on March 3 by the bank, the world’s top development institution said in a statement. The assistance is aimed at supporting industry …

Bloomberg The combined weight of the coronavirus and the monetary easing trend around the world could finally persuade one of Asia’s most cautious central banks to cut rates. Taiwan’s policymakers will likely lower borrowing costs in its first policy-rate move since June 2016, joining the expanding ranks of central banks seeking to shore up a receding global economy. Taipei’s monetary …

Bloomberg Barclays Plc might struggle to reach its profitability target for the year and could cut discretionary awards as the coronavirus pandemic disrupts its business, joining a string of global lenders. “It’s going to be a tough year for earnings,” Tushar Morzaria, finance director, said on Tuesday at the Morgan Stanley European Financials Conference, held virtually this year. Barclays might …