Asian shares faced another leg lower on Wednesday as the coronavirus sharply slows global growth, leading a gauge of world stocks to post its biggest quarterly decline in more than a decade and oil prices to trade near lows last seen in 2002.
The U.S. Department of Energy plans to announce as soon as Wednesday it will allow oil companies to lease space in the Strategic Petroleum Reserve (SPR), as it tries to comply with President Trump's directive to fill the facility to capacity, two industry sources said.
Britain's top banks said on Tuesday they would suspend dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus.
JetBlue Airways Corp plans to reduce daily flights in and out of the four New York City-area airports where it operates by as much as 80% in April as part of wider schedule cuts due to the coronavirus outbreak, a spokesman said.
The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including slashing rates to zero and relaunching large-scale asset purchases.
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Citigroup Inc said on Tuesday it would postpone its 2020 investor day that was scheduled to take place on May 13 due to the coronavirus pandemic.
Caterpillar Inc on Tuesday said it will not hand out annual salary increases this year as part of cost cut plan to deal with the coronavirus economic fallout.
An independent group of workers at Whole Foods Market called on colleagues to phone in sick to the grocer's stores on Tuesday to protest what they say is a lack of adequate compensation and protections from the coronavirus.
Macy's Inc will be removed from the benchmark S&P 500 stock index , the S&P Dow Jones Indices said on Tuesday, as coronavirus-induced store closures compound the retail sector's struggles with a shift to online shopping.
U.S. printer maker Xerox Holdings Corp walked away from its $35 billion hostile cash-and-stock bid for HP Inc on Tuesday, after the coronavirus outbreak weighed on its campaign to take over the PC and printing equipment manufacturer.
IKEA, the world's biggest furniture brand, said on Tuesday it has started making protective gear such as aprons and facemasks for hospitals battling the spread of coronavirus, and aims to step up output further.
The U.S. Transportation Department on Tuesday proposed that passenger airlines should be required to maintain minimum numbers of flights as a condition for receiving aid from the government's $50 billion grant and loan fund.
U.S. President Donald Trump said on Tuesday he would join Saudi Arabia and Russia, if need be, for talks about the sharp fall in oil prices resulting from a price war between the two countries.
U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic.