The U.S. Senate voted late Wednesday 96-0 to give the U.S. aviation industry $58 billion in aid, half in the form of grants earmarked to cover some 750,000 employees' paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history.
Airbnb Inc hosts in the United States could get some relief from a $2 trillion coronavirus stimulus bill that is nearing a vote in Congress, the home-rental startup said on Wednesday.
U.S. lawmakers are nearing agreement on a package of grants for passenger and cargo airlines and contractors worth $32 billion as part of a massive U.S. stimulus and rescue package amid the massive travel demand falloff because of the coronavirus outbreak, three people briefed on the matter said.
Asian shares extended their rally on Wednesday in the wake of Wall Street's massive rebound as the U.S. Congress appeared closer to passing a $2 trillion stimulus package to mitigate the economic blow from the coronavirus pandemic.
Detroit's Big Three automakers plan to extend a current shutdown of vehicle production in North America into April as the coronavirus pandemic continues, people briefed on the matter said Tuesday.
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Qantas Airways Ltd on Wednesday secured A$1.05 billion ($627.8 million) against its aircraft fleet to help it ride out the coronavirus crisis, sending shares up 30%, as airlines in the Asia-Pacific region sliced away capacity and jobs.
Boeing Co plans to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban on its best-selling jet after fatal crashes, people familiar with the matter said on Tuesday.
At least two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite measures taken to prevent people infected by the virus from entering the exchange while it remained physically open last week, according to a memo seen by Reuters.
Asian shares extended their rally on Wednesday in the wake of Wall Street's big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic's economic toll.
The German elevator-to-car parts conglomerate Thyssenkrupp will cut 3,000 jobs at its steel unit by 2026 as part of a wage deal it struck with powerful labor union IG Metall, it said on Wednesday.
"We think stocks are really cheap if you believe ... that the economy is going to eventually recover, as will the P/E multiples," value investor Bill Nygren told CNBC.
Two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite strict measures taken to prevent people infected by the virus from entering the exchange while it remained open last week, according to a memo seen by Reuters.
Nike Inc beat estimates for quarterly revenue on Tuesday as strong digital demand offset the first China sales drop in nearly six years from the coronavirus-fueled shutdowns, but the company held back from providing a forecast due to the outbreak.
By Gertrude Chavez-Dreyfuss, Kate Duguid and Abhinav Ramnarayan