Government, Business, Safety, Logistics

Economists Fear Possible Recession as Coronavirus Spreads

Port of Los Angeles Cargo shipping container trucks at the Port of Los Angeles. Imports to the port will take a hit in the next month with the production slowdown in China. (Patrick T. Fallon/Bloomberg News)

Economists who closely follow the transportation and trucking industry say the next month will be critical as to whether the economy avoids a recession in 2020 as concerns over the spread of the coronavirus mount.

Dan Ronan | Associate News Editor
March 2, 2020
Government, Business

First Negative US Yields Get Closer Amid Virus Fallout Fears

Coronavirus A foreign currency dealer works in a dealing room of Hana Bank in Seoul. (SeongJoon Cho/Bloomberg News)

The swirl of fresh coronavirus cases and growing risks to the global economy have some seasoned market strategists warning that U.S. growth could come to a halt this year and some Treasury yields may drop below zero for the first time.

Liz Capo McCormick | Bloomberg News
March 2, 2020
Government, Safety

Trump Stresses Travel Precautions, Anticipates Market Rebound

CDC coronavirus test CDC's laboratory test kit for the coronavirus. (CDC via AP)

President Donald Trump stressed public safety is his administration’s priority as it addresses growing concerns with the spread of the coronavirus. Trump also told reporters at the White House Feb. 29 he believed markets would rebound after experiencing recent record lows.

Eugene Mulero | Senior Reporter
February 28, 2020
Government, Business, Logistics

Apple’s Tim Cook Sees Minor Supply Chain Changes in Wake of Virus

Apple CEO Tim Cook Apple CEO Tim Cook by David Paul Morris/Bloomberg News

Apple Inc. Chief Executive Officer Tim Cook suggested the iPhone maker wouldn’t make any quick moves out of China in light of interruptions due to the coronavirus and called the situation a “temporary condition.”

Mark Gurman | Bloomberg News
February 28, 2020
Government, Business, Fuel

Oil Plummets in Worst Week Since 2008 Amid Coronavirus Panic

Persian Gulf oil platform Gas flares burn from pipes aboard an offshore oil platform in the Salman Oil Field near Lavan island, Iran. (Ali Mohammadi/Bloomberg)

Oil plunged to the lowest level in 14 months as panic from the fast-spreading coronavirus spiraled global markets deeper into losses for the seventh straight day.

Jackie Davalos | Bloomberg News
February 28, 2020
Government, Business

Geneva Auto Show Canceled as Switzerland Bans Large Events

Geneva auto show Workers stop the preparation of the 90th Geneva International Motor Show on Feb. 28. (Salvatore di Nolfi/Keystone via AP)

GENEVA — The Geneva auto show was canceled after the Swiss government put an immediate ban Feb. 28 on all public and private events involving more than 1,000 people in order to halt the spread of the new coronavirus.

Jamey Keaten and Frank Jordans | Associated Press
February 28, 2020
Government, Business, Safety

Coronavirus Puts Speed Bump in Canada’s 2020 Economic Expansion

Workers wearing protective suits are reflected in a glass window of a clothing store in Seoul, South Korea, on Feb. 27. Workers wearing protective suits are reflected in a glass window of a clothing store in Seoul, South Korea, on Feb. 27. (SeongJoon Cho/Bloomberg News)

The global spread of coronavirus is lowering expectations that Canada’s economy will quickly emerge from one of its worst slowdowns in years, fueling bets the central bank will be forced to cut interest rates.

Shelly Hagan | Bloomberg News
February 27, 2020
Business

Peugeot Maker Sees Record Profit, but Coronavirus Clouds Horizon

Carlos Tavares Carlos Tavares by Michel Euler/AP

PARIS — Despite record profits last year, Peugeot maker PSA Group said Feb. 26 it lost 700 million euros ($760 million) in China — and that was before the new virus hit a key manufacturing center.

February 26, 2020
Government, Business, Fuel

Oil Dives After CDC Warns of Potential Virus Outbreak in US

Oil prices graphic

Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets.

Jackie Davalos | Bloomberg News
February 25, 2020
Business, Equipment

Deere Surges Most Since 2016 on Surprise Growth in Farm Recovery

Deere & Co. John Deere tractors are displayed during the World Agriculture Expo in California on Feb. 11. Deere & Co. John Deere tractors are displayed during the World Agriculture Expo in California on Feb. 11. (Patrick T. Fallon/Bloomberg News)

Machinery giant Deere & Co. delivered an unexpected increase in earnings and maintained its annual outlook as early signs of stabilization in the U.S. farm sector offset a slowdown in construction. Shares rose the most in three years.

Laura Yin | Bloomberg News
February 21, 2020

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