Business & Finance News
Wall Street’s main indexes slipped on Tuesday, a day after recording their biggest tumble since the crash of 1987, as efforts to contain the rapidly spreading coronavirus wreak havoc on the global economy.
Amazon.com Inc will only receive vital supplies at its U.S. and UK 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.
General Motors Co said on Tuesday an employee at its Cole Engineering Center in Warren tested positive for coronavirus.
Amazon.com Inc is suspending sellers from sending non-essential products to its U.S. and U.K. warehouses until April 5 in the latest move to free up inventory space for much-needed supplies that are in shortage as a result of the coronavirus outbreak.
McDonald’s Corp is considering rent deferral and other measures to ensure liquidity at its franchisees around the world, amid curbs on dine-in restaurants to contain the spread of the coronavirus, a regulatory filing showed on Tuesday.
Volkswagen will raise the amount of nickel used in it electric car battery cells to 80% in the next year from 65% at present, Frank Blome, head of battery cells at the carmaker said on Tuesday.
Standard Chartered on Tuesday said it expects global oil demand to decline by a record amount in 2020 citing the rapidly spreading coronavirus and the travel restrictions imposed to contain it.
The main U.S. stock indexes opened higher on Tuesday, a day after their biggest drop since the 1987 crash, as efforts to contain the rapidly spreading coronavirus upended parts of the economy and dampened business sentiment.
U.S. retail sales fell by the most in more than a year in February and the coronavirus outbreak is expected to depress sales in the months ahead, which could strengthen economists’ expectations of a consumer-led recession by the second quarter.
World share markets and oil prices struggled to shake off their coronavirus fears on Tuesday after Wall Street’s worst rout since the Black Monday crash of 1987.
The U.S. Senate on Tuesday prepared to weigh a multibillion-dollar emergency spending bill passed by the House of Representatives offering economic relief from the coronavirus pandemic as the Trump administration pressed for $850 billion more.
European airlines on Tuesday called on governments to draw up a package of measures including deferring taxes to rescue the struggling industry as the crisis caused by the coronavirus pandemic deepens.
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak. Several have scrapped flights and ditched financial forecasts.
World share markets and oil prices struggled on Tuesday after coronavirus panic caused Wall Street’s worst one-day rout since the Black Monday crash of 1987.
Wall Street’s main indexes looked set for a bounce on Tuesday, a day after their biggest drop since the 1987 crash, as efforts to contain the rapidly-spreading coronavirus upended parts of the economy and dampened business sentiment.
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