Reuters

BMW will put investments on hold as it seeks to conserve cash to counter a fall in demand caused by the spread of the coronavirus pandemic, Chief Financial Officer Nicolas Peter said on Wednesday.

South Korea's Hyundai Motor said on Wednesday its provisional April sales fell 57% on year to 159,079 vehicles globally, as the coronavirus pandemic and efforts to curb its spread sharply contracted auto demand and dealership traffic.

The founder of activist investment company Amber Capital, which lost out this week in a bid to shake up the governance at French group Lagardere , said on Wednesday he had no plans to exit his stake in Lagardere and added that he could even raise it.

Asian shares extended gains on Wednesday, as investors saw China's yuan fixing offering a modest olive branch to Washington amid a resurgence in trade tensions, while oil ended its winning streak on oversupply fears and weak demand.

Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday apologised over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.

Virgin Money swung to a first-half loss after setting aside 232 million pounds ($288 million) to handle loans likely to turn sour as a result of the coronavirus crisis.

Britain's Metro Bank reported a modest dip in lending in the first quarter and a 77 million pounds rise in total deposits to 14.6 billion pounds ($18.15 billion) as customers shrugged off lower fixed term deposit rates.

BMW AG on Wednesday reported a 133% rise in first-quarter profit, due to the absence of a one-off provision in the year-earlier period, but said the impact of the coronavirus could erode demand and profit.

Investors want to know what kind of economic hit General Motors Co expects from the coronavirus pandemic as it moves forward, whether it needs to raise further cash and when North American vehicle production will resume when it reports first-quarter results on Wednesday.

Shares struggled and the yen gained on Wednesday, with markets in China faltering on their return from a long holiday as investors fretted over Sino-U.S. tensions, while oil ended an extended winning streak on oversupply risks amid weak demand.

U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.

U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.

Plant-based meat maker Impossible Foods will start selling its flagship burgers in supermarket chain Kroger Co's 1,700 stores in the United States, as it taps growing demand for vegan alternatives among home chefs.

Global stocks and crude prices were set to extend gains in Asia on Wednesday on confidence that government steps to restart economies will bring back growth and demand for oil.

Venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday.

California and three of its largest cities on Tuesday sued Uber Technologies Inc and Lyft Inc, accusing them of classifying their drivers improperly as independent contractors instead of employees, evading workplace protections and withholding worker benefits.

3M Co won an injunction from a federal judge against a New Jersey company it accused of illegally using its trademarks to sell 3M-branded N95 respirator masks at inflated prices to exploit the coronavirus pandemic.

United Airlines Holdings Inc plans to cut at least 3,400 management and administrative positions in October as the coronavirus pandemic crushes air travel demand, and has told pilots to brace for changes as well, according to two memos seen by Reuters.

Wall Street's main indexes gained on Tuesday as healthcare stocks rallied, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.

Plant-based burger maker Beyond Meat plans to offer large value packs and discounts to some U.S. retailers this summer, hoping to grab a greater share of the market as prices for beef rise amid production disruptions caused by the coronavirus pandemic.