JPMorgan Chase & Co's profit plunged by more than two-thirds in the first quarter as the largest U.S. bank put aside nearly $7 billion in reserves to protect it from a wave of potential loan defaults in the months ahead.
Wells Fargo's quarterly results were the first ones since the coronavirus outbreak paralyzed the global economy.
Global airlines will lose $314 billion in revenue due to the coronavirus pandemic in 2020 according to a forecast from the industry's representative body IATA, which raised its estimate from the $252 billion figure given on March 24.
The administrators of troubled hospital operator NMC Health have announced a new board for the London-listed company, bringing in four non-executive directors with international restructuring experience.
Johnson & Johnson on Tuesday beat analysts' estimates for first-quarter profit on higher sales of its cancer drugs and consumer products including Tylenol, while cutting its full-year forecast due to coronavirus shutdowns.
Cisco Systems Inc on Tuesday launched a $2.5 billion financing program that lets its customers defer 95% of payments until 2021, giving companies additional leeway at time when some are facing a cash crunch but also need more remote-work tools.
Many students and their parents argue that online classes and remote learning is just not the same as face-to-face instruction and should cost less.
World stocks gained on Tuesday after Chinese trade data came in better than expected and as some countries tried to restart their economies by partly lifting restrictions aimed at containing the coronavirus pandemic.
Investors have been hoarding cash at a rate not seen since the immediate aftermath of the 9/11 attacks of 2001, BofA's April fund manager survey showed, as the coronavirus roiled global financial markets.
French automaker Renault SA is ditching its main passenger car business in China following poor sales at the loss-making venture with Dongfeng Motor Group .
Hyundai Motor Co's Czech car plant was the first in the central European country to get back to work on Tuesday after a three-week outage, potentially easing some of the strain on the hard-hit economy.
Bombardier Inc said on Tuesday it plans to resume production at some of its facilities in the United Kingdom, which had been halted in March due to government-mandated social distancing to battle the coronavirus pandemic.
The Spanish government said on Tuesday the International Monetary Fund's forecast of an 8% economic slump this year due to the coronavirus pandemic, to be followed by a recovery in 2021, confirmed the view that the crisis would be intense, but short-lived.
Global debt is expected to increase significantly over the next year, the top economist of the International Monetary Fund said on Tuesday, while moratoriums on debt payments and debt restructuring may need to be continued as the world economy emerges from the coronavirus pandemic lockdown.
U.S. stock markets opened more than 1% higher on Tuesday as the quarterly earnings season kicked off with JPMorgan and Johnson & Johnson giving a first glimpse of the coronavirus outbreak's impact on corporate America.