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.
The Treasury is granting extra time to pay taxes owed from last year, but the reprieve doesn't apply to your tax return. You must file your return by April 15, said Steven Mnuchin, Treasury Secretary.
IKEA, the world's biggest furniture brand, is temporarily closing more stores as the coronavirus spreads, including all 50 in its second-biggest market the United States.
Nissan Motor Co said on Wednesday it would stop producing vehicles in Indonesia, consolidating its global production in the face of falling sales which have pummeled its profitability.
Danish toymaker Lego said on Wednesday it would close all of its stores, except for those in China, until at least March 27 due to the spread of coronavirus.
Australia and Taiwan joined governments offering financial aid to airlines, while authorities in Europe rushed on Wednesday to agree steps to rescue carriers which have had to park planes and cut jobs as the coronavirus puts the brake on travel.
Ryanair expects to ground most if not all of its flights from March 24 except a very small number mostly between Britain and Ireland to maintain essential connectivity, the airline said on Wednesday.
Billionaire investor William Ackman, who has long worried about the serious risks posed by the novel coronavirus, called on the Trump administration on Wednesday to seal off the United States for a month in a bid to curb the outbreak.
British American Tobacco , the world's No.2 tobacco maker, said on Wednesday it has not yet seen a material impact from the COVID-19 outbreak, even as certain launches had to be postponed due to supply chain disruptions in China.
European Trade Commissioner Phil Hogan underscored the European Union's desire to negotiate a settlement to a dispute with the United States over aircraft subsidies when he spoke with the top U.S. trade official on Monday, an EU spokesman said.
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.
One of Noel Quinn's first jobs as chief executive of HSBC will be to review the radical revamp he unveiled last month as interim boss, a senior source at the bank said.
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.