Business & Finance News
Apple Inc on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company’s smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy.
The European Union is looking at ways to get the economy back on its feet next year after what is expected to be the 27-nation bloc’s deepest ever recession, caused by the coronavirus pandemic.
U.S. government officials warned on Wednesday about the threat of North Korean hackers, calling particular attention to banking and other finance.
Luxury carmaker Aston Martin is extending by a week the manufacturing suspensions in place at its two factories as lockdown measures designed to stop the spread of coronavirus remain in place in Britain.
Amazon will close its warehouses in France until at least early next week after a court ordered it to limit deliveries to essential goods such as food and medical supplies.
Wall Street’s main indexes slid 2% on Wednesday, as a record drop in retail sales and dour first-quarter earnings reports lent weight to forecasts for the biggest economic slump since the Great Depression.
International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief agreement that suspends bilateral debt servbice payments by poor countries.
U.S. manufacturing output dropped by the most in just over 74 years in March as the novel coronavirus pandemic fractured supply chains, suggesting business investment contracted further in the first quarter.
Amazon said on Wednesday it may temporarily close its warehouses in France after a court ordered the e-commerce giant to limit deliveries in the country to essential goods like food and medical supplies.
Goldman Sachs Group Inc reported a 49% fall in quarterly profit on Wednesday, as the bank put aside nearly $1 billion to meet future loan defaults and booked heavy losses on its debt and equity investments.
Oil fell 4% towards $28 a barrel on Wednesday, pressured by reports of persistent oversupply and collapsing demand due to global coronavirus-related lockdowns and a lack of coordinated oil purchases for strategic storage.
Honda Motor Co said it has remodeled 50 of its minivans to transport COVID-19 patients to hospitals and quarantine facilities in Japan, sealing off the rear section of the vehicles to keep drivers safe from infection.
Ukraine, one of world’s top grain exporters, is ready to ban wheat exports if sales exceed limits agreed with traders, the deputy economy minister in charge of agriculture told Reuters on Wednesday.
Brazilian airline Azul SA has hired restructuring firm Galeazzi & Associados to renegotiate its financial and suppliers’ debt, Brazilian newspaper O Estado de S. Paulo reported on Wednesday.
Argentina is braced for the first case of coronavirus to be confirmed among the thousands of port workers and grains handlers involved in the country’s key agricultural export sector, local industry officials said.
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