Reuters

There appears to be agreement in Washington to give companies more time to utilize their coronavirus aid under the Paycheck Protection Program, the head of the U.S. Senate's small business committee said on Wednesday.

Several Ryanair trade unions say they will resist an attempt to cut pay and conditions for a five-year period, citing management promises of a swift recovery from the coronavirus crisis and the fact its CEO has committed to a pay cut for just one year.

Food giant Nestle said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.

Shares in Luckin Coffee Inc slumped almost 40% to a record low in premarket trade on Wednesday, as they resumed trading after more than a month's halt and a day after the Chinese coffee chain said it received a delisting notice from Nasdaq .

Harley-Davidson Inc is reopening its factories this week at lower production rates and sending dealers a narrower range of motorcycles, the Wall Street Journal reported on Wednesday.

JetBlue Airways Corp and United Airlines Holdings Inc announced fresh safety measures on Wednesday aimed at restoring confidence in travel that has been crushed by the coronavirus pandemic.

A German court said on Wednesday it was ending proceedings against the chairman and chief executive of Volkswagen AG after the carmaker agreed to pay a fine of 9 million euros ($9.9 million) over the diesel emissions scandal.

The reasons for Fiat Chrysler and Peugeot-owner PSA's merger are "stronger than ever," the FCA chairman said on Wednesday, as the COVID-19 pandemic adds to the car industry's existing challenges.

Wall Street was set to open sharply higher on Wednesday as investors clung to hopes of a recovery from a coronavirus-fuelled slump amid signs of more stimulus for ailing sectors, while retailer Lowe's jumped on upbeat quarterly results.

There appears to be agreement in Washington to give companies more time to utilize their coronavirus aid under the Paycheck Protection Program, the head of the U.S. Senate's small business committee said on Wednesday.

SoftBank Group-backed Indian ride-hailing company Ola will cut 1,400 jobs, or about 35% of its workforce, as it navigates a strict coronavirus lockdown that has halted 95% of its business, company chief Bhavish Aggarwal told employees on Wednesday.

Deutsche Bank's chairman Paul Achleitner said he intends to step down when his term ends in 2022, heralding a new era at Germany's largest lender as it struggles to become profitable.

Lessors including AerCap and BOC Aviation are now the biggest shareholders in Norwegian Air after the budget carrier completed a debt restructuring and secured a long-sought credit guarantee from Norway's government.

Harley-Davidson Inc is reopening its factories this week at lower production rates and sending dealers a narrower range of motorcycles, the Wall Street Journal reported on Wednesday.

Global stocks rose on Wednesday as investors regained hopes of recovery from a coronavirus-fuelled recession, while oil prices also strengthened.

JetBlue Airways Corp said on Wednesday it will continue blocking seats on its aircraft through at least July 6, while United Airlines Holdings Inc said it had teamed up with Clorox Co and Cleveland Clinic medical experts to advise on new cleaning and safety protocols.

Target Corp's quarterly online sales surged 141% due to panic buying in the coronavirus crisis, the retailer said on Wednesday, driving results past Wall Street expectations even as its operational costs soared.

Delta Air Lines Inc is likely to increase capacity this summer by adding flights in June and July as U.S. domestic travel slowly picks up amid the novel coronavirus pandemic, its chief executive officer said on Wednesday.

AT&T Inc said on Tuesday it was shutting its DirecTV subscription access to Venezuela due to U.S. sanctions, cutting off a key source of entertainment for millions of people stuck in their homes under a strict coronavirus quarantine.

Lowe's Cos Inc reported its biggest rise in quarterly same-store sales in at least 15 years on Wednesday, as people spent more on tools and paint for do-it-yourself projects and home repairs during the coronanvirus lockdowns.