The British government is paving the way for a multi-billion pound bailout of airlines by lifting a cap on level of financial support it can provide, the Times newspaper reported on Wednesday.
As shops shut their doors across Europe and the United States, in China the sharp drop in new coronavirus cases has encouraged consumers to venture back into malls and restaurants - for the most part quite gingerly but occasionally in throngs.
When Treasury Secretary Steven Mnuchin made the announcement about a cash infusion to Americans on Tuesday, universal basic income proponents felt validated. Now, the group of those calling for such a policy, if only in a temporary rendition, is quickly growing.
General Motors Co will furlough all its employees in Brazil starting on March 30, the company said in a statement to Reuters on Wednesday, suggesting that GM's production in South America's main car market would stop due to the coronavirus outbreak.
Wall Street's four-week slump deepened on Wednesday as investors priced in a complete breakdown in business activity and consumer spending from the coronavirus pandemic.
Southwest Airlines Co said Wednesday it is canceling more than 50 flights after the Federal Aviation Administration (FAA) extended the shutdown of the air traffic control tower at Chicago Midway International Airport following reported coronavirus cases.
A U.S. restaurant trade group on Wednesday asked the White House and Congressional leaders for a $455 billion aid package, saying that the industry could shed nearly half of its 15.6 million jobs and at least a quarter of its annual sales because of the coronavirus outbreak.
The Trump administration on Wednesday asked Congress to approve $500 billion in cash payments to taxpayers in two rounds that would start April 6 and $50 billion in secured loans to U.S. airlines to address the financial impact of the coronavirus, according to a document seen by Reuters.
Tesla Inc's vehicle factory in California appeared to be operating normally on Wednesday despite an order by local officials to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.
Thyssenkrupp , a major supplier to the automotive industry, on Wednesday said it was considering shortened working hours as carmarkers reduce or suspend production due to the coronavirus crisis.
A payroll tax cut would benefit the richest Americans, while sending checks to each U.S. household to prop up the economy would favor the poor, according to a new analysis.
Goldman Sachs said it has instructed most of its staff in the Americas, Europe, the Middle East and Africa to work from home from Wednesday until further notice, according to an internal notice the bank posted on its website late on Tuesday.
Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low and Brent a 16-year low as Goldman Sachs said lockdowns to counter the coronavirus pandemic raised prospect of the steepest ever annual fall in oil demand.
French carmakers PSA and Renault are entitled to benefit from all measures put in place to fight the economic impact of the coronavirus outbreak, France's Finance Ministry told Reuters on Wednesday.
Roughly 1 in 4 Americans say they will have trouble paying their credit card bills due to the coronavirus outbreak.