Reuters

Billionaire hedge fund investor William Ackman on Tuesday said he has moved to protect the firm's $6.6 billion portfolio, which includes restaurant chain and hotel stocks, as the spread of the coronavirus has sparked prolonged panic selling in markets.

Comcast Corp's NBCUniversal said on Tuesday it had sold more than $1.25 billion in national advertising for the Tokyo Olympics, a new record for any broadcaster for the games.

Berkshire Hathaway Inc , the conglomerate run Warren Buffett, said it will hold its annual shareholder meeting on May 2 despite the coronavirus outbreak, but may curtail some of the surrounding events.

The coronavirus outbreak has muddied the outlook for the U.S. economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London on Tuesday.

Nordstrom Inc forecast a 2020 profit largely below market expectations on Tuesday, after the upscale apparel retailer missed estimates for fourth-quarter revenue, sending its shares down 9% in after-market trading.

JPMorgan Chase & Co is asking thousands of U.S. employees to spend a day working from home in the coming weeks to test its contingency plans should the coronavirus spread, sources familiar with the plan told Reuters.

Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates to shield the U.S. economy from the impact of the fast-spreading coronavirus.

The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world's largest economy from the impact of the coronavirus, but the emergency move failed to comfort U.S. financial markets roiled by fears of a deep and lasting slowdown.

The Federal Reserve's next policy decision in two weeks' time will be driven by the latest news on how the coronavirus is affecting the economy, Cleveland Federal Reserve Bank President Loretta Mester said on Tuesday after an emergency rate cut.

Office management platform Eden said on Tuesday it has acquired shared workplace operator WeWork's Managed by Q for an undisclosed sum.

The United States sued a unit of the drugmaker Mallinckrodt Plc on Tuesday, accusing it of defrauding Medicaid out of hundreds of millions of dollars as a result of "meteoric" price increases for its biggest-selling drug, Acthar Gel.

The European Central Bank is preparing possible measures to provide liquidity to businesses hit by the economic fallout of the coronavirus outbreak, three sources familiar with the discussion told Reuters.

Bank of England Governor Mark Carney said policymakers around the world are working on a "powerful and timely" response to the economic hit from coronavirus which has raised fears of a new global recession.

The world's top three central banks look set to take steps to limit the economic damage from the fast-spreading coronavirus, with the heads of the European Central Bank and Bank of Japan issuing emergency statements on Monday that echoed one from U.S. Federal Reserve Chair Jerome Powell late last week.

An Australian court on Tuesday ordered Johnson & Johnson to pay three women a total of A$2.6 million ($1.7 million) plus legal costs as compensation for misleading patients and surgeons about the risks of its pelvic mesh implants.

The global oil benchmark ended Tuesday slightly lower under pressure from falling equities, but the losses were contained slightly as top producers considered more output cuts to support prices and the Federal Reserve cut U.S. interest rates to support the economy.

Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the fast-spreading coronavirus.

JPMorgan Chase & Co is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, Bloomberg News reported on Tuesday.

U.S. Federal Reserve officials have slashed interest rates half a percentage point because of the coronavirus.

Wall Street tumbled in a volatile session on Tuesday after the Federal Reserve surprised investors with a half percentage-point cut in interest rates, amplifying fears about the magnitude of the coronavirus' impact on the economy.