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.
Top oil exporter Saudi Arabia said on Wednesday it would launch a program to boost production capacity for the first time in more than a decade, signaling to Russia and other rivals it was ready for a long battle over production levels and market share.
Until recently, economists were debating what it would take for the U.S. economy to fall into a recession. But after taking a cue from markets, the conversation for some economists has shifted from whether there will be a sharp downturn, to figuring out what shape the recovery could take.
Leaders of the biggest U.S. banks were summoned to Washington by President Trump to discuss ways to support small businesses and markets.
The U.S. government recorded a $235 billion budget deficit in February, the Treasury Department said on Wednesday.
U.S. consumer prices unexpectedly rose in February but could drop in the months ahead as the coronavirus outbreak depresses demand for some goods and services, outweighing price increases related to shortages caused by disruptions to the supply chain.
Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia.
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
Tesla Inc plans to increase its production capacity for certain car parts at its $2 billion factory in China, according to a government document seen by Reuters, as it pushes to localize its supply chain in the world's biggest auto market.
The largest U.S. airlines are allowing passengers to rebook tickets through April 30 without paying fees to change flights citing uncertainty about traveling during the coronavirus outbreak.
IKEA on Tuesday started selling its products on Alibaba's Chinese e-commerce platform Tmall, the first time the world's biggest furniture retailer has sold through a third party in its 77-year history.
Oil prices bounced 8% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus amid a price war between Russia and Saudi Arabia and as new virus cases slowed in China.
Norwegian Air has temporarily halted flights to and from Italy because of the coronavirus outbreak, the budget carrier said on Tuesday, adding to the company's financial woes.
Oil prices jumped by 5% on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although early gains were pared on demand concerns over the global spread of the coronavirus.
Asian stocks bounced, and bond yields rose from record lows on Tuesday on hopes that global policymakers would introduce co-ordinated stimulus to cushion the economic impact of a coronavirus outbreak.