Business & Finance News
The Trump administration on Wednesday asked Congress to approve $500 billion in cash payments to taxpayers in two rounds that would start April 6 and $50 billion in secured loans to U.S. airlines to address the financial impact of the coronavirus, according to a document seen by Reuters.
The Dow Jones index fell more than 7% to a three-year low on Wednesday, moving into negative territory compared to levels when President Donald Trump took office and marking the latest landmark in Wall Street’s most dramatic selloff in decades.
General Motors Co will furlough all its employees in Brazil starting on March 30, the company said in a statement to Reuters on Wednesday, suggesting that GM’s production in South America’s main car market would stop due to the coronavirus outbreak.
As Brazil’s stock market hit record highs in January, Economy Minister Paulo Guedes said the country could raise up to 150 billion reais ($30 billion) with sales of state-owned companies through share offerings, mergers and acquisitions.
Tesla Inc’s vehicle factory in California appeared to be operating normally on Wednesday despite an order by local officials to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.
AT&T Inc said Wednesday it will close 40% of its U.S-company owned retail stores nationwide as a result of the coronavirus outbreak.
The carnage in stock markets is getting uglier by the day. Should you “buy”, “sell” or “hold” on tight?
Several hundred Amazon workers in France protested at one of its sites on Wednesday, calling on the online retailer to cease operations or make it easier for employees loath to work during the coronavirus outbreak to stay away.
Tesla Inc’s U.S. vehicle factory in California on Wednesday appeared to operate normally despite an order by the county’s sheriff’s office to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.
U.S. homebuilding fell less than expected in February as a plunge in the construction of multi-family housing units was blunted by a surge in single-family projects, suggesting some strength in the housing sector before the coronavirus pandemic severely disrupted economic activity.
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.
Tesla Inc’s U.S. vehicle factory in California on Wednesday appeared to operate normally despite an order by the county’s sheriff’s office to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.
As shops shut their doors across Europe and the United States, in China the sharp drop in new coronavirus cases has encouraged consumers to venture back into malls and restaurants – for the most part quite gingerly but occasionally in throngs.
Apple Inc launched an updated version of its MacBook Air on Wednesday, modifying keyboards on its laptop line that have faced criticism for typing-related problems.
Wall Street resumed a steep slide on Wednesday while bond markets rushed to price in the sheer scale of government support programs and handouts announced over the past 24 hours, all aimed at softening the economic shock of coronavirus.
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