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Europe's Airbus has signalled that some government support may be needed if the coronavirus crisis lasts for several months, three people familiar with the matter said.

China has given the go-ahead for researchers to begin human safety tests of an experimental coronavirus vaccine in the race to develop a shot against the COVID-19 epidemic that has killed more than 7,000 people worldwide.

Ontario, Canada's most populous province, banned gatherings of more than 50 people and ordered the closure of bars and restaurants on Tuesday in a bid to slow the spread of the coronavirus.

European Union leaders meeting via videoconference on Tuesday are likely to seal off Europe's external borders and stress a "whatever it takes" approach to easing the economic fallout as the continent braces for a long coronavirus crisis.

India has dropped at least three crucial policy initiatives, including lowering import taxes on vegetable oils, as the outbreak of the coronavirus hits government revenue collection, two sources said on Tuesday.

Alarmed consumers thronged markets across Africa on Tuesday, many in masks and gloves, to stock up as the coronavirus spread on the world's poorest continent.

Brazilian meatpacker Marfrig has elected a new chief executive officer and plans to buy back up to 5.91 million of its own shares, it said in two separate securities filings.

The United States has only one cargo of soybeans left to ship to China for the current exporting season, practically unheard of for this time of year. It is even more shocking considering that China is allegedly still on the hook for massive U.S. farm purchases this year under the recent Phase 1 deal, and that soybean stocks in the country have plunged to lows not seen in at least a decade.

Britain's biggest airports including Heathrow and Gatwick have written to Prime Minister Boris Johnson to ask that any government support for the aviation industry should include help for airports, which they said could have to shut completely.

Europe's Airbus has signalled that some government support may be needed if the coronavirus crisis lasts for several months, two people familiar with the matter said.

British Airways is due to make an unspecified number of pilots redundant according to UK pilot union BALPA, as the airline seeks to reduce its costs to try survive the coronavirus crisis.

Abu Dhabi's Etihad Airways said on Tuesday it was expanding its cargo network to markets where passenger operations have decreased due to the coronavirus epidemic.

A piece of research that helped convince the British government to impose more stringent measures to contain COVID-19 painted a worst case picture of hundreds of thousands of deaths and a health service overwhelmed with severely sick patients.

International travel is expected to fall at least 10.5% this year, the biggest year-on-year drop as the rapid spread of coronavirus sows chaos across the tourism and leisure sector, according to industry consultancy Tourism Economics.

EssilorLuxottica, the maker of Ray Ban sunglasses, on Tuesday announced a plan to buy back up to 3 million shares, adding it was confident in its long-term outlook.

China's foreign ministry on Tuesday advised Chinese citizens to avoid travel to countries posing a high risk in the global coronavirus pandemic, as the country tightens checks on arrivals to guard against imported cases of the disease.

Nordstrom Inc said on Monday it would temporarily shut its stores in the United States and Canada and pull its fiscal 2020 forecast, as the upscale retailer joins its peers in an effort to limit the spread of the coronavirus.

Australia's central bank reiterated it stood ready to ease policy further in the face of the 'unprecedented' spread of the coronavirus, adding to speculation of aggressive stimulus this week to counter the widening economic fallout of the pandemic.

Airlines and airport operators said they are taking steps such as suspending dividends, selling and leasing back airplanes and flying cargo on empty passenger jets as they grapple with a cash crunch and plunging demand caused by the coronavirus outbreak.

The United States has only one cargo of soybeans left to ship to China for the current exporting season, practically unheard of for this time of year. It is even more shocking considering that China is allegedly still on the hook for massive U.S. farm purchases this year under the recent Phase 1 deal, and that soybean stocks in the country have plunged to lows not seen in at least a decade.