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H&M, the world's second-biggest fashion retailer, said on Wednesday it had started producing protective aprons at a supplier and would deliver one million aprons to the Swedish healthcare system over the coming two weeks.

U.S. retail sales suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.

Oil fell by more than 4% towards $28 a barrel on Wednesday, pressured by reports of persistent oversupply and collapsing demand due to global coronavirus-related lockdowns and a lack of coordinated oil purchases for strategic storage.

Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as the bank set aside nearly $5 billion to prepare for an expected flood of defaults on loans due to a virtual halt in economic activity caused by the coronavirus pandemic.

U.S. manufacturing output dropped by the most since 1946 in March as the novel coronavirus pandemic fractured supply chains, suggesting business investment contracted further in the first quarter.

Goldman Sachs Group Inc's quarterly profit nearly halved, as it set aside more money to cover for corporate loans expected to go bust in the coming months and booked heavy losses on its debt and equity investments.

Wall Street's main indexes were set to slide at the open on Wednesday, as a record drop in retail sales and dour first-quarter earnings reports lent credence to forecasts for the biggest economic slump since the 1930s.

Brazilian airline Azul SA said on Wednesday it has hired restructuring firm Galeazzi & Associados to work with the carrier "during this period of crisis."

Bank of America Corp recorded a 48.5% fall in quarterly profit as the bank set aside $3.6 billion for potential loan losses tied to the coronavirus pandemic.

Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as the bank set aside nearly $5 billion to prepare for an expected flood of defaults on loans due to a virtual halt in economic activity caused by the coronavirus pandemic.

The board of South America's largest carrier, LATAM Airlines Group , plans to suspend a $57 million dividend payment tied to the company's 2019 profits to preserve cash to weather the new coronavirus crisis, it said on Tuesday night.

Proxy adviser ISS has backed Credit Suisse's proposals for its annual general meeting on April 30, recommending shareholders vote in favour of the group's pay proposals and approve the performance of its leadership.

British fashion brand Barbour has turned over its production line to making protective gowns for frontline healthcare workers battling the coronavirus outbreak, reviving memories of its patriotic efforts in both world wars.

Global accounting and consulting company Deloitte said partners at its UK arm would have their pay cut by a fifth this year to protect jobs during the pandemic.

U.S. retail sales suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.

Toyota Motor Corp on Wednesday said it will cut production of finished vehicles by 40 percent in Japan in May as demand shrinks around the world because of the coronavirus pandemic.

U.S. stock index futures retreated on Wednesday as another batch of dismal first-quarter earnings reports and a slide in oil prices lent credence to forecasts for the biggest economic slump since the 1930s.

Global stocks fell on Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic.

Toshiba Corp on Wednesday said it will temporarily close factories and offices in Japan from May 6 to May 15, allowing as many as 76,000 to stay at home as the coronavirus spreads, Kyodo newswire reported.

Goldman Sachs Group Inc reported a 49% drop in quarterly profit on Wednesday, as it set aside significantly higher provisions related to corporate loans due to the impact of COVID-19 and booked heavy losses on its debt and equity investments.