Bloomberg A trade group representing shopping-centre owners is urging the Trump administration to provide relief to retailers, restaurants and landlords as the coronavirus pandemic shuts down commerce around the US. The government should guarantee or pay for business-interruption coverage, the International Council of Shopping Centers said in a letter to President Donald Trump. Store closures “are placing an insurmountable strain …

Bloomberg Moody’s Investors Service is taking aim at airlines, placing multiple carriers on review for downgrades as the industry faces the sharpest downturn since at least the 9/11 terrorist attacks. Moody said in a statement that it’s considering cutting Delta Air Lines Inc to junk. The carrier currently has a Baa3 rating, the lowest investment-grade rank. The ratings company cited …

Bloomberg Saudi Arabia plans to boost oil exports even further from April to May, reaching a record of more than 10 million barrels a day as the kingdom taps a new field. The increase in shipments of about 250,000 barrels a day shows the kingdom is determined to carry on with its policy of pumping flat out after its alliance …

Bloomberg The International Monetary Fund (IMF) is ready to mobilise its $1 trillion lending capacity to help nations counter the coronavirus outbreak, with Managing Director Kristalina Georgieva calling for global coordination on monetary, fiscal and regulatory support. Georgieva reiterated in a blog post that the fund has $50 billion in flexible and rapid-disbursing emergency funds for developing nations, with as …

Bloomberg US equity futures fluctuated on Tuesday and European stocks dropped as investors struggled to find their feet after the biggest plunge on Wall Street since 1987. The dollar jumped, while Treasuries retreated with gold. It was another day of volatility, with contracts on American share gauges at one point rising by their daily limits in the wake of the …

Bloomberg India’s benchmark stock index closed negative, reversing gains, after the country’s central bank announced a currency swap and measures to boost liquidity but held back from following global peers with an emergency rate cut. The S&P BSE Sensex fell 2.6% to 30,579 as of the 3:30 pm close in Mumbai on Tuesday after dropping as much as 3.2% and …

Bloomberg Indonesian stocks slumped on Tuesday, triggering a trading halt for the third time in a week. The Jakarta Composite Index ended the day down 5% to its lowest level since January 2016. A total of $356 million in equity value changed hands as of the time of the market suspension , Laksono Widodo, director of trading and membership at …

Bloomberg Japanese banks tapped into the Federal Reserve’s revamped swap lines, taking up a total of about $32 billion in the first operation since the US central bank lowered rates on Sunday. Lenders from the Asian nation borrowed about $30.3 billion for 84 days at 0.370% in the swap coordinated by The Bank of Japan. They borrowed about $2.05 billion …

Bloomberg Chinese banks face an unprecedented drop in profits this year as bad loans surge because of the coronavirus outbreak, according to UBS Group AG. In a severe downside case, China’s banking industry could see bad debt jump to 5.2 trillion yuan in 2020, UBS analysts led by May Yan said. The estimate is based on an assumption that China’s …

Bloomberg JPMorgan Chase & Co. and Citigroup Inc. told employees if they can work from home to begin doing so this week, escalating efforts to prevent the deadly coronavirus from spreading among staff. Australia’s Macquarie Group Ltd. has gone further, telling the vast majority of its staff globally to work from home. Citigroup’s directive, which applies to employees in the …