U.S. Chamber of Commerce officials and travel industry leaders urged businesses and consumers not to overreact to the spread of coronavirus and to take precautions while going about business as usual.
Ford Motor Co. has banned all air travel for business after two of its employees in China contracted the coronavirus.
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.
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.
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.
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.”
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.
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.
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.
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