Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
H&M is temporarily closing all its 460 stores in Germany, its number one market for sales, and all 590 in its second largest market the United States, due to the coronavirus outbreak.
British supermarket group Sainsbury’s is to restrict customer purchases to combat panic buying, close its in-store cafes and counters and beef-up online services to get it through the coronavirus crisis, it said on Wednesday.
Credit Suisse sharply lowered its forecast for Mexico’s economic performance this year and now expects a 4.0% contraction, citing “significant downside risks,” according to a note sent to the bank’s clients on Tuesday.
German sportswear maker Adidas on Tuesday joined rivals in announcing store closures in response to the coronavirus pandemic.
Delta Air Lines has received over 4,500 requests from flight attendants for voluntary unpaid leave in April, according to a March 14 paper seen by Reuters.
People familiar with the matter said the move was prompted by the depressed travel demand caused by the rapid spread of the coronavirus. The number of take-ups has now topped 5,000 since the window for requests was extended, they said. Flight attendants can also bid until March 30 for voluntary leave in the month of May, for May and June, or for May, June and July, according to a separate memo seen by Reuters. …read more […]
Credit Suisse sharply lowered its forecast for Mexican economic growth this year and now expects a 4.0% contraction, citing “significant downside risks,” according to a note sent to the bank’s clients on Tuesday.
The U.S. Federal Reserve moved Tuesday to ensure the flow of credit to U.S. companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the coronavirus crisis.
U.S. Treasury Secretary Steven Mnuchin on Tuesday said he approved the creation of a new primary dealer credit facility to ease credit market disruptions caused by the coronavirus epidemic, resurrecting the second 2008 financial crisis-era backstop in less than a day.
Than U.S. President Donald Trump’s administration pushed lawmakers to send money directly to Americans to counter the economic toll of the coronavirus outbreak, as the Senate weighed a multibillion-dollar emergency bill passed by the House of Representatives.
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This Is Definitely a Crisis, but It Isn’t a Financial Crisis
The share prices of American …read more […]
Miners shuttered or wound down operations in Peru on Tuesday and were girding for extended supply chain disruptions in neighboring Chile as governments tightened restrictions to try to slow the spread of the coronavirus in the resource-rich region.
U.S. House Speaker Nancy Pelosi told the CEOs of U.S. airlines on Tuesday that Democrats agree on the need for “big immediate action” to boost the sagging U.S. aviation industry but have not reached agreement on what a bailout would look like.
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