Banks wary of liquidity extend expensive, shorter-dated credit to GE

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NEW YORK (LPC) – General Electric Co is asking its lenders to replace US$20bn in revolving loans with a new debt package that will come with a smaller size and shorter maturities, sources said.

FILE PHOTO: The logo of U.S. conglomerate General Electric is seen on the company building in Belfort, France, October 19, 2019. REUTERS/Vincent Kessler

The new loans, that will come at the reduced size of US$15bn, are a testament to a changing bank landscape as firms seek to get better compensated for the risk they take to lend as volatility rattles the markets.

A shorter commitment window

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Airlines facing what official calls ‘deepest crisis ever’

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LONDON (Reuters) – As the novel coronavirus continues to spread, commercial flights have all but stopped. The situation is so dire that the head of the trade group representing the world’s airlines called the last few months “its deepest crisis ever.”

FILE PHOTO: Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. REUTERS/Elijah Nouvelage/File Photo

A Reuters analysis of data from FlightAware, which tracks air traffic in real-time, reveals a series of sequential and precipitous declines in

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Worst yet to come as coronavirus takes its toll on auto sales

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A luxury sports car sits on display in a dealership in Manhattan on November 30, 2017 in New York City.

Spencer Platt | Getty Images

The coronavirus, led by stay-at-home regulations, brought U.S. vehicle sales to a grinding halt in many areas of the country and the worst is still yet to come, according to industry officials.

Any sales gains achieved in January or February by automakers were essentially erased last month as sales fell off a cliff as some states banned dealers from even conducting online sales due to COVID-19. The orders, until lifted, are expected to continue taking

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Brace for coronavirus fallout to take stocks to new lows: Meghan Shue

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Wilmington Trust’s Meghan Shue warns two grim quarters are ahead — not just one.

The firm’s head of investment strategy believes market losses will continue to pile up amid negative coronavirus data and headlines.

“GDP in the second quarter could be anywhere from negative 15% to negative 30%. That is a huge range which just speaks to the uncertainty facing investors at the moment,” the CNBC contributor told CNBC’s “Trading Nation” on Wednesday. “If this is something we can get our arms around in the next 90 days or so, we’re more likely to see the market bottoming in the

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