Business & Finance News
Warren Buffett plans to wait until around April 1 to decide whether the coronavirus pandemic will require changes to Berkshire Hathaway Inc’s annual shareholder weekend a month later, Omaha, Nebraska’s mayor Jean Stothert said.
The dollar weakened and the Dow Jones industrials entered bear market territory on Wednesday on mounting worries about the global economy after world health officials declared a coronavirus pandemic and Reuters reported a White House gag order on top-level U.S. meetings on the outbreak.
Retailer Best Buy Co Inc said on Wednesday Executive Chairman Hubert Joly would step down and will not stand for re-election at the shareholder meeting on June 11.
Wall Street stocks plunged on Wednesday, with the Dow confirming a bear market for the first time since the financial crisis after the World Health Organization called the coronavirus outbreak a pandemic.
Sporting goods retailer Modell’s Sporting Goods filed for Chapter 11 protection in the U.S. bankruptcy court in New Jersey on Wednesday, citing a challenging retail environment.
Boeing Co is freezing new hiring and overtime except in certain critical areas to preserve cash, the U.S. planemaker’s CEO said on Wednesday, as the coronavirus outbreak compounds the fallout from a year-old grounding of its money-spinning 737 MAX.
Leading U.S. bank executives in a meeting with President Donald Trump at the White House said banks are strongly capitalized and prepared to help small businesses and American consumers weather the coronavirus outbreak.
Trump administration officials have postponed for a second time a critical meeting originally set for Wednesday to discuss potential new U.S. restrictions on sales of technology to Huawei and China, people familiar with the matter said.
Private equity firm Blackstone Group Inc is asking companies it controls to draw down their credit lines to avoid liquidity crunch, a Bloomberg reporter tweeted on Wednesday, citing people familiar with the matter.
U.S. passenger railroad Amtrak said on Wednesday that bookings had plunged 50% since the coronavirus outbreak and that it now expected significant service reductions and losses of hundreds of millions of dollars.
Activist investor Starboard Value LP has nominated a minority slate of directors to eBay Inc’s board, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The U.S. government recorded a $235 billion budget deficit in February, the Treasury Department said on Wednesday.
California and other states which had fought a merger of Sprint Corp and T-Mobile US Inc over concerns about higher prices for consumers and less innovation have agreed to end their opposition.
Delta Air Lines Inc said on Wednesday it was extending the suspension of all flights between the United States and China from April 30 to May 31 due to the coronavirus outbreak.
Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices.
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