Business & Finance News
As coronavirus cases ballooned in Europe, several countries imposed or planned new restrictions to try to curb the spread. Britain told panic-buyers to calm down. California and three other U.S. states directed tens of millions of people to stay at home.
The Republican-led U.S. Senate scrambled on Saturday to forge a bipartisan agreement on a $1 trillion-plus bill aimed at stemming the economic fallout from the growing coronavirus outbreak, as talks neared a deadline for drafting and passing the legislation.
Amazon.com will stop shipping non-essential products to consumers in Italy and France, the company said on Saturday, representing an escalation in the e-commerce giant’s response in regions hard hit by the coronavirus outbreak.
Goldman Sachs Group Inc poured more than $1 billion into two of its prime money-market portfolios this week due to heavy investor withdrawals, according to a filing with the U.S. securities regulator.
Amazon.com Inc said on Saturday it is raising overtime pay for associates working in its U.S. warehouses, as the world’s largest online retailer tries to meet the rapidly growing demand for online shopping from consumers stuck at home during the coronavirus outbreak.
Best Buy Co Inc said on Saturday that the company withdrew all financial guidance for fiscal 2021, for both the first quarter and full year, due to increased uncertainty related to the potential impacts of the coronavirus.
Britain on Saturday told people who were panic-buying and hoarding food due to the coronavirus outbreak to calm down, pointing to a video on social media showing an exhausted nurse driven to tears by finding shelves bare after her shift.
LVMH , the world’s biggest luxury goods group, is ordering 40 million health masks from a Chinese supplier to help France cope with the coronavirus outbreak.
German carmaker Volkswagen AG said on Saturday its factories will be closing for two weeks and in some regions three, amid growing concerns over the spread of the coronavirus.
Wells Fargo & Co has asked the U.S. Federal Reserve to remove an asset cap introduced during its accounts scandal in order to allow it to support businesses and customers hit by the coronavirus economic fallout, the Financial Times reported.
As cases ballooned in Europe, the new epicenter of the coronavirus, several countries imposed new restrictions to try to curb the spread. California and three other U.S. states directed tens of millions of people to stay at home.
Panasonic Corp said on Saturday it will temporarily suspend production at its battery joint venture with U.S. electric carmaker Tesla Inc in Nevada because of the coronavirus outbreak.
Alphabet Inc’s Google said on Saturday it launched a United States-focused website with information about coronavirus guidance and testing, as the country works on slowing the spread of the highly contagious virus.
Uber Technologies has suspended the option to book regular taxi services through its app in Saudi Arabia until further notice, a company statement said on Friday.
Starbucks Corp said on Friday it will close most of its company operated cafes across north America for two weeks, limiting its services to drive-throughs, to help stem the spread of the highly contagious coronavirus.
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