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Updated: 3 years 47 weeks ago
U.S. insurers want taxpayers to back pandemic coverage for businesses
The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters.
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Top Boeing shareholder Vanguard voted against chair Kellner
Top Boeing Co shareholder Vanguard Group voted against the company's chairman Lawrence Kellner, citing "control failures" under its audit committee after two 737 MAX plane crashes, according to a stewardship report issued on Wednesday that will further pressure the planemaker.
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Wall Street uniform to get a new accessory - the face mask
Face masks, temperature checks and packaged sandwiches could all become part of the daily routine for bankers as their employers work out how to get them safely back into the office.
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Wall Street jumps on coronavirus drug hopes; Fed in focus
U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted the so-called market-leading FAANG stocks.
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British Airways owner bets on costs not bailouts to survive
A plan to axe up to 12,000 jobs at IAG's British Airways underlines CEO Willie Walsh's desire to survive what is expected to be aviation's worst downturn without a state bailout.
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Boeing to shrink workforce and production as coronavirus slams industry
Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consecutive quarterly loss.
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Amazon turns to Chinese firm on U.S. blacklist to meet thermal camera needs
Amazon.com Inc has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor the Uighurs and other Muslim minorities, three people familiar with the matter told Reuters.
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Juul plans to cut a third of its workforce- WSJ
Juul Labs Inc is planning to cut around a third of its staff as the e-cigarette maker faces a relentless series of regulatory headaches and falling market share, the Wall Street Journal reported on Wednesday.
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Shares jump after upbeat coronavirus drug data, oil surges
World stock markets surged on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices surged.
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AstraZeneca sticks to 2020 outlook, boosted by drug stockpiling
AstraZeneca topped analysts' estimates for quarterly profit and reiterated its targets for the year on Wednesday, as the British drugmaker benefited from higher demand for some of its medicines during the coronavirus pandemic.
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China committed to Phase 1 trade deal despite pandemic: U.S. official
China remains "very, very committed" to meeting its commitments under a Phase 1 trade deal with the United States, despite the unprecedented economic and health impacts of the new coronavirus outbreak, a senior U.S. trade official said on Wednesday.
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JetBlue, Delta seek U.S. OK to suspend flights to 25 U.S. airports
Delta Air Lines , JetBlue Airways Corp and Spirit Airlines on Tuesday asked the U.S. Transportation Department for approval to suspend flights to more than two dozen U.S. airports.
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Blue Apron shares sink as coronavirus order bump fails to boost sales
Shares of Blue Apron Holdings Inc slumped as much as 33% on Wednesday as the meal-kit company posted a steep decline in quarterly sales even after seeing a boost in orders from Americans confined to their homes amid coronavirus-led lockdowns.
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Lyft to cut 982 jobs due to coronavirus outbreak
Lyft Inc plans to lay off 982 employees, or 17% of the ride-hailing firm's workforce, due to economic challenges caused by the coronavirus pandemic, the company said in a regulatory filing on Wednesday.
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Coronavirus savages U.S. economy in first quarter; worse still to come
The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.
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Wall Street jumps on coronavirus drug hopes; Fed decision awaited
U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants.
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KFC parent Yum says April sales improving after virus hits Q1
Yum Brands Inc said on Wednesday sales in April showed signs of improvement as stay-at-home consumers ordered in more and diners returned to restaurants after certain countries started to ease restrictions.
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BP donates jet fuel in U.S. to help with COVID-19 relief
BP is donating 3 million gallons of jet fuel to FedEx and Alaska Airlines [ALKAIR.UL] to help with the distribution of personal protective equipment in the battle against the new coronavirus.
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EU clears French 5 billion euro loan guarantee to Renault
The European Commission approved on Wednesday a 5 billion euro ($5.4 billion) loan guarantee to carmaker Renault group to mitigate the impact of the coronavirus crisis.
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Lufthansa to get financial support from Switzerland and Austria
Switzerland and Austria pledged to help Lufthansa with state-backed loans as the German airline pursues talks with Berlin over a 9 billion euro ($9.8 billion) rescue package.
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