Business News

Airbus on Wednesday cut production across the board to absorb the hit to manufacturing from the coronavirus crisis.

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Austrian Airlines is in negotiations with the government regarding state aid to save jobs and keep Vienna as a transfer hub for long-haul flights, the carrier said on Wednesday, adding the talks were at an early stage and will probably take weeks.

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The U.S. Federal Reserve said on Wednesday it would “temporarily and narrowly” modify the growth restriction on Wells Fargo & Co’s asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.

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Walmart de Mexico, known locally as Walmex , has hired 7,741 employees to manage higher volume and demand at its stores, the retailer said in a statement on Wednesday

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McDonald’s Corp posted a steeper-than-expected decline in first-quarter comparable store sales and the burger chain pulled its full-year forecast as coronavirus-led lockdowns forced it to shutter stores and stick to delivery or take-out.

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The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.

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The U.S. Federal Reserve said on Wednesday it would “temporarily and narrowly” modify the growth restriction on Wells Fargo & Co’s asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.

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Video conferencing company Zoom has been responsive to concerns over its software, the U.S. Department of Homeland Security (DHS) said in a memo recently distributed to top government cybersecurity officials and seen by Reuters.

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Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation.

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Zoom Video Communications Inc has tapped former Facebook security chief Alex Stamos as an adviser and set up an advisory board to improve the privacy and security of its rapidly growing video-conferencing app amid a global backlash.

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EasyJet’s founder Stelios Haji-Ioannou demanded on Wednesday a shareholder vote to remove two directors, as part of his battle to try to force the British airline to cancel an order for 107 Airbus planes.

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JetBlue Airways Corp said on Wednesday it is consolidating flights in five U.S. metropolitan areas into just one or two airports and also asking the U.S. Department of Transportation to exempt it from flying at other airports where current demand does not support its service.

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World equity markets edged higher and oil prices stabilized on Wednesday on hopes the coronavirus pandemic is peaking and that more government stimulus measures could be on the way.

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McDonald’s Corp posted a steeper-than-expected decline in quarterly comparable store sales and the company pulled its full-year forecast as coronavirus-led lockdowns forced it to shutter stores and stick to delivery or take-out.

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The United States on Wednesday awarded automaker General Motors Co a contract worth $489.4 million to make ventilators needed to treat severely sick coronavirus patients.

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