Financial officials of the Group of 20 major economies said on Wednesday they had agreed on a coordinated approach for a suspension of debt service payments for the world's poorest countries starting on May 1 until the end of the year.
Aston Martin is extending by a week the manufacturing suspensions in place at its two car factories, ahead of the arrival of its crucial first sport utility vehicle, whilst lockdown measures to combat coronavirus continue.
U.S. manufacturing output dropped by the most in just over 74 years in March as the novel coronavirus pandemic fractured supply chains, suggesting business investment contracted further in the first quarter.
Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5% in the first two months of the current quarter, as the electronics retailer kept its stores shut due to the coronavirus pandemic.
Ryanair is steeling for an airline price war that it expects to win once coronavirus restrictions are lifted and passengers flock back to tourist destinations, Chief Executive Michael O'Leary told Reuters on Wednesday.
Wall Street's main indexes slid 2% on Wednesday, as a record drop in retail sales and dour first-quarter earnings reports lent weight to forecasts for the biggest economic slump since the Great Depression.
Amazon will close its warehouses in France until at least early next week after a court ordered it to limit deliveries to essential goods such as food and medical supplies.
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Japanese automaker Honda Motor Co said Wednesday it will extend a shutdown of its Mexican plants through April 30 and plans to furlough most U.S. salaried workers for two weeks as a result of the coronavirus pandemic.
Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world's poorest countries from May 1 until the end of the year, as a group of private creditors also backed offering debt relief.
Tesla's stock extended its recent rally on Wednesday following a surge in China car registrations and after Goldman Sachs initiated coverage of the electric car maker with a "buy" recommendation.
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.