Boeing secures funding options amid 737 Max crisis, including $12 billion bank loan

Boeing Co.BA, -1.56%  has lined up at least $12 billion in bank loans and may tap the commercial paper market to counter the cash drain from the 737 Max crisis.

The aerospace giant said in a regulatory filing that it expects to close a two-year loan in February after securing bank commitments, and has the option to increase the facility if it is oversubscribed.

The planned loan would help fund compensation for buyers of the grounded jet and support Boeing suppliers after the company halted production of the Max. The added funds would also pay for Boeing’s stock dividend, which it opted to keep at existing levels this year.

The aircraft maker ended 2019 with $10 billion in cash, a level of liquidity that Boeing has maintained in recent years, tapping the bond market twice last year and doubling the size of its revolving loan facility.

“We believe our ability to access external capital resources should be sufficient to satisfy existing short-term and long-term commitments and plans,” the company said in the filing.

An expanded version of this report appears at WSJ.com.

Man who works at coronavirus-hit firm is Germany's seventh case

BERLIN (Reuters) – Germany on Friday confirmed a seventh case of coronavirus, identifying the victim as a man who works at a company in Bavaria where five other workers had earlier tested positive.

Earlier on Friday, authorities identified the sixth victim as the child of a male employee at the same company.

“Thus, there are currently a total of seven known coronavirus cases in Bavaria,” the Bavarian Health Ministry said in a statement. Of the seventh patient, it added: “Details will be announced to the media on Saturday.”

Trump declares public health emergency, and will quarantine U.S. citizens returning from China’s Hubei Province

President Donald Trump’s coronavirus task force on Friday announced a series of actions aimed at stemming the spread of the coronavirus outbreaks, including declaring a public-health emergency in the U.S. The task force also said that starting Feb. 2, all returning U.S. citizens who traveled to Hubei Province, China, over the last 14 days will undergo mandatory quarantine for 14 days. The U.S. will no longer allow foreign nationals who "pose a risk" at spreading the virus into the U.S., according to remarks made by Alex Azar, secretary of the Department of Health and Human Services. They will be denied entry to the U.S., officials said. This includes foreign nationals who traveled in China over the last 14 days. It excludes immediate family members of U.S. citizens and permanent residents.

Dow records more than 600 point drop as coronavirus fears rattle Wall Street

U.S. stocks logged a sharp drop on Friday as investors struggled with the uncertain economic impact of the coronavirus, amid reports of travel disruptions and the suspension of flights to China. The S&P 500 SPX, -1.77% fell 1.8% to end around 3,225. The Dow Jones Industrial Average DJIA, -2.09% shed 605 points, or 2.1%, to finish near 28,254, based on preliminary numbers. The Nasdaq Composite COMP, -1.59% tumbled 1.6% to end around 9,151. The Dow and S&P turned negative for the year on Friday. For the week, the S&P was down 2.1%, the Dow lost 2.5%, and the Nasdaq shed 1.8%. In January, the S&P edged 0.2% lower, the Nasdaq gained 2%, and the Dow shed 1%. Economists and investors say the coronavirus could deal a blow to expectations for a global economic recovery this year, after last year’s slowdown due to U.S.-China trade hostilities. In addition, Delta and American Airlines stopped flights to China after the U.S. government advised travelers to steer clear of the nation. Treasury markets were also displaying trepidation over the U.S. and global economic outlook, after the spread between the 10-note yield TMUBMUSD10Y, -5.39% and the 3-month bill TMUBMUSD03M, -0.50% inverted again on Friday. On corporate news, shares of Amazon Inc. AMZN, +7.38% surged by more than 7% after the e-commerce giant reported better-than-expected earnings in the fourth-quarter.

Iraq's Basra airport to deny entry to travellers from China and Chinese citizens over coronavirus – state news agency

CAIRO (Reuters) – Iraq’s Basra International Airport will deny entry to passengers of any nationality travelling to Iraq from China, the state news agency reported on Friday amid fears from the coronavirus outbreak.

Several countries tightened travel curbs on Friday, a day after the World Health Organization declared a global health emergency.

(This story adds reporting credit without making changes to text)

US STOCKS SNAPSHOT-Wall Street stumbles as virus fears mount

NEW YORK, Jan 31 (Reuters) – Wall Street’s major averages tumbled more than 1% on Friday as the spreading coronavirus outbreak coupled with sluggish U.S. economic data and a mixed batch of corporate earnings fueled concerns about global growth.

The Dow Jones Industrial Average fell 603.41 points, or 2.09%, to 28,256.03, the S&P 500 lost 58.14 points, or 1.77%, to 3,225.52 and the Nasdaq Composite dropped 148.00 points, or 1.59%, to 9,150.94. (Reporting by Stephen Culp Editing by Chris Reese)

U.S. announces mandatory quarantines for China travellers over Coronavirus

WASHINGTON – The Trump administration on Friday declared a public health emergency over the coronavirus outbreak and said it would bar entry to the United States starting on Sunday of foreign nationals who have travelled to China.

U.S. citizens who have travelled to China’s Hubei Province within the last 14 days will be subject to a mandatory 14-day quarantine, Health and Human Services Secretary Alex Azar told a media briefing at the White House on Friday.