British fashion brands Oasis and Warehouse have fallen into administration, threatening over 2,000 jobs and joining a growing list of store groups pushed over the edge by the coronavirus crisis.
Oil prices sank on Wednesday after the United States reported a 19 million-barrel increase in inventories, the biggest weekly build ever, while forecasts showed global demand crumbling to its lowest levels in a quarter of a century due to the coronavirus pandemic.
UnitedHealth Group Inc on Wednesday reaffirmed its financial targets for the year, but cautioned it was uncertain of the impact of elective procedures being postponed by Americans during the COVID-19 pandemic.
U.S. retail sales suffered a record drop in March and output at factories declined by the most since 1946, buttressing analysts' views that the economy contracted in the first quarter at its sharpest pace in decades as extraordinary measures to control the spread of the novel coronavirus shut down the country.
The Pentagon's inspector general on Wednesday said it could not determine whether the White House influenced the award of a $10 billion contract to Microsoft Corp over Amazon after several officials said their conversations were privileged "presidential communications."
The S&P 500 recoiled on Wednesday from a four-week high, as dire forecasts for the worst economic downturn since the Great Depression were strengthened by a crash in business activity and dismal first-quarter earnings reports.
The government has launched a new web app that lets you track your payment or add in your direct deposit bank information. But you need to hurry if you want your cash automatically. Millions of payments are already being deployed.
A double whammy of economic data showing the U.S. economy in a deep downturn and reports of persistent crude oil oversupply and collapsing demand slammed global markets on Wednesday as vivid reminders of the damage from coronavirus-related lockdowns.
Charles Calvin was waiting for his $1,700 government stimulus check. What he saw on his bank balance made him do a double take.
Americans have reported losing more than $13 million to coronavirus-related scams since the beginning of the year, according to the Federal Trade Commission.
From solar panel installers to electric vehicle factory workers, the clean energy sector lost more than 100,000 U.S. jobs in March as stringent measures to control the new coronavirus shut down manufacturing and halted plans for home and business upgrades.
The Trump administration plans to buy milk and meat from U.S. farmers as part of an initial $15.5 billion effort to help them weather the impact of the coronavirus outbreak, Agriculture Secretary Sonny Perdue said on Wednesday.
"It's a tremendous program to keep our business afloat," said one small business owner.
A handful of states are requiring insurers to provide extra time for consumers to make those payments without facing cancellation of their policies, and many insurance companies are providing relief even if not required to.
Apple Inc on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company's smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy.