McDonald's Corp posted a steeper-than-expected decline in first-quarter comparable store sales and the burger chain pulled its full-year forecast as coronavirus-led lockdowns forced it to shutter stores and stick to delivery or take-out.
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Congress gave retirement savers a bit of relief, allowing them to skip required minimum distributions from their IRAs and retirement plans in 2020. Here are a few frequently asked questions and answers.
Airbus on Wednesday cut production across the board to absorb the hit to manufacturing from the coronavirus crisis.
Austrian Airlines is in negotiations with the government regarding state aid to save jobs and keep Vienna as a transfer hub for long-haul flights, the carrier said on Wednesday, adding the talks were at an early stage and will probably take weeks.
Investors are betting on stocks to remain volatile well into the year, suggesting that many expect the long-term economic and public health impact of the pandemic caused by the novel coronavirus to continue roiling markets despite a recent rally.
Five Democratic lawmakers on Wednesday wrote Amazon.com Inc to raise concern about its firing of a worker who protested warehouse operations during the coronavirus pandemic, according to a copy of the letter seen by Reuters.
The German foreign ministry has restricted use of the video conferencing service Zoom to fixed-connection desktop computers because of "critical" security and data protection weaknesses, the newspaper Handelsblatt reported on Wednesday.
U.S. investment bank Centerview has hired Lazard's former France boss, Matthieu Pigasse, to lead its newly-launched Paris office and win business from European companies grappling with the economic damage caused by the coronavirus outbreak.
Airbus production cuts announced on Wednesday in response to the coronavirus crisis are likely to be in place for "some months" and then reviewed as the market outlook becomes clearer, Chief Executive Guillaume Faury said on Wednesday.
The economic downturn from the coronavirus outbreak in the United States will be deep and any recovery will depend on consumers feeling safe enough to start spending again, Richmond Federal Reserve Bank President Thomas Barkin said on Wednesday.
U.S. stock markets rose on Wednesday on hopes the coronavirus outbreak in the United States was close to its peak, with health insurers boosted by Democratic presidential candidate Bernie Sanders suspending his campaign.
Crude prices edged up on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement, but surging U.S. crude inventories muted the gains.
The U.S Justice Department on Wednesday recommended U.S. regulators approve Alphabet Inc unit Google's request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means.
The forced closure of businesses across the United States and surge in unemployment due to the coronavirus pandemic will force U.S. growth to contract by 30% in the second quarter and 5% overall in 2020, Pacific Investment Management Co (PIMCO) wrote on Wednesday.