Reuters

Tesla Inc and officials in California have resolved their acrimonious clash over safety procedures at the automaker’s sole U.S. assembly plant with a deal that allows production to resume as early as Monday, county officials said.

Stock markets tumbled on Wednesday on fears about a second wave of coronavirus infections and warnings from Federal Reserve Chairman Jerome Powell that the U.S. faces a "significantly worse" recession than any downturn since World War Two, while bonds rose on a safety bid.

Airbus is exploring restructuring plans involving the possibility of "deep" job cuts as it braces for a prolonged coronavirus crisis after furloughing thousands of workers, industry sources said, though no decision is imminent.

Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot.

Online retailer Amazon.com, criticized for not acting quickly enough to curb sellers who charged hundreds of dollars for high-demand hand sanitizer during the early phase of the new coronavirus pandemic, urged Congress on Wednesday to pass a law against price gouging during times of national emergency.

The head of the Federal Reserve warned on Wednesday of an "extended period" of weak economic growth, vowed to use the U.S. central bank's power as needed, and called for additional fiscal spending to stem the fallout from the coronavirus pandemic.

U.S. stocks fell sharply for the second day on Wednesday after Federal Reserve Chairman Jerome Powell warned of extended economic weakness due to the coronavirus pandemic but did not mention new central bank support.

Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, said on Wednesday the country could face an "extended period" of weak growth and stagnant incomes, pledged to use more Fed power as needed, and issued a call for more fiscal spending.

Jerome Powell, chairman of the Federal Reserve board of governors, warned Wednesday that the long-term health of the U.S. economy may depend on more fiscal stimulus to fight the economic impacts of the coronavirus.

Deutsche Bank's regulators in the United States have criticised the German lender in an internal audit for weaknesses in fighting money laundering and in risk management, according to a German newspaper on Wednesday.

Amazon.com Inc said on Wednesday it would extend the temporary increase in its hourly pay and double the overtime pay through May 30, bringing its total salary cost for hourly employees to nearly $800 million.

Airbus is drawing up plans for restructuring involving "deep" job cuts, but has not taken a final decision, industry sources said.

The top three U.S. airlines have told their flight attendants not to force passengers to comply with their new policy requiring face coverings, just encourage them to do so, according to employee policies reviewed by Reuters.

Tesla Inc and officials in California have resolved their acrimonious clash over safety procedures at the automaker’s sole U.S. assembly plant with a deal that allows production to resume as early as Monday, county officials said.

U.S. President Donald Trump on Wednesday extended for another year an executive order signed in May 2019 declaring a national emergency and barring U.S. companies from using telecommunications equipment made by firms posing a national security risk.

After over seven weeks of coronavirus lockdown, Britons hankering for a Big Mac may be a step closer to getting their hands on one after McDonald's reopened 15 restaurants on Wednesday for delivery only.

Japan's SoftBank Group Corp , a shareholder in some of Latin America's largest food delivery companies, expects consolidation in most markets, a senior executive said on Wednesday.

U.S. producer prices fell by the most since 2009 in April, leading to the largest annual decline in nearly 4-1/2 years, bolstering some economists' predictions for a brief period of deflation as the novel coronavirus depresses demand.

EU officials are seeking to finalise a plan for public stakes to be taken in key European companies to shield them from the economic fallout of the COVID-19 pandemic, three sources familiar with the matter told Reuters.

OPEC slashed its forecast on Wednesday for global oil demand this year and predicted this quarter would see the steepest decline even as some countries ease lockdown measures designed to stem the coronavirus outbreak.