Saudi Arabia has asked state agencies to submit proposals for cuts of at least 20% to their budgets in a fresh austerity drive to cope with a sharp drop in oil prices, four sources familiar with the matter said.
Boeing Co is freezing new hiring and overtime except in certain critical areas in efforts to preserve cash due to the coronavirus outbreaks and the 737 MAX grounding, people familiar the matter said on Wednesday.
Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices.
President Donald Trump will meet with Wall Street executives on Wednesday to discuss the financial industry's response to the coronavirus and the toll it is taking on small businesses, markets and the broader economy, the White House said.
Warren Buffett intends to wait until around April 1 to decide whether the coronavirus outbreak will require changes to Berkshire Hathaway Inc's annual shareholder weekend a month later, Omaha, Nebraska's mayor Jean Stothert said.
The New York Stock Exchange is taking steps to separate traders on the floor of its iconic 11 Wall Street building and employees of the NYSE and its parent Intercontinental Exchange Inc , to reduce the risk of spreading coronavirus, according to an internal memo sent Wednesday.
The dollar weakened and global equities markets slid again on Wednesday, with Wall Street sharply lower, as the previous day's high hopes of government stimulus to tackle the coronavirus soured on the hard reality of still little action.
FCA | Speech: Therese Chambers | March 6, 2020 Speaker: Therese Chambers, Director of Retail and Regulatory Investigations Event: The Advancement of Digital Assets and Addressing Financial Crime Risk, New York University School of Law Delivered: 5 March 2020 Note: this is the speech as drafted and may differ from delivered version Highlights Cryptoassets such as
Federal Aviation Administration chief Steve Dickson confirmed Wednesday the agency has rejected Boeing Co's proposal to leave wiring bundles in place on the grounded 737 MAX.
U.S. Senator John Thune said on Wednesday he believes the Trump administration is evaluating use of the Strategic Petroleum Reserve, and other measures, to help oil producers deal with the plunge in crude prices due to the coronavirus and a price war between Saudi Arabia and Russia.
A large minority of Walt Disney Co shareholders who cast votes at the company's annual meeting on Wednesday opposed the company's executive pay plan, Disney said.
Activist investor Starboard Value LP has nominated a minority slate of directors to eBay Inc's board, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Private equity firm Blackstone Group Inc is asking companies it controls to draw down their credit lines to avoid liquidity crunch, a Bloomberg reporter tweeted on Wednesday, citing people familiar with the matter.
U.S. passenger railroad Amtrak said on Wednesday that bookings had plunged 50% since the coronavirus outbreak and that it now expected significant service reductions and losses of hundreds of millions of dollars.