Reuters Business News

U.S. President Donald Trump said on Wednesday U.S. oil producers have already cut production and he had many options if Saudi Arabia and Russia do not reduce their output when they and other exporters meet on Thursday.

The German foreign ministry has restricted use of the video conferencing service Zoom to fixed-connection computers due to concerns about security issues, two German government sources said.

BlackRock Inc , the world's largest asset manager, will not layoff any employees during the year due to the coronavirus outbreak, Chief Executive Officer Larry Fink said on Wednesday.

UK-listed companies could cancel about $60 billion in dividend payments this year following Britain's lockdown and calls from regulators to preserve cash during the coronavirus crisis, according to a report by analytics company Link Group.

Starbucks Corp on Wednesday forecast a 47% drop in second-quarter earnings, scrapped its full-year forecast and warned that the financial hit from the coronavirus pandemic would extend into the final quarter of the fiscal year 2020.

U.S. crude futures rose as much as 6% in early trade on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as global oil demand has collapsed amid the coronavirus pandemic.

Major U.S. insurers are offering credit to auto and motorcycle policyholders following a decline in driving, as most Americans stay at home to help contain the spread of the novel coronavirus.

The Federal Communications Commission (FCC) on Wednesday approved Alphabet Inc unit Google's request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means.

U.S. crude futures rose as much as 6% in early trade on Thursday ahead of a crucial meeting between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia - a group known as OPEC+.

Costco Wholesale Corp reported a 9.6% jump in March comparable sales, as customers stocked up on essentials to weather coronavirus-led lockdowns.

The U.S. government's $350 billion program to help ailing businesses took an important step forward on Wednesday, with the launch of a system that will allow hundreds of new lenders to participate in the unprecedented scheme.

The U.S. economy is headed for a return to growth in the second half of the year after a steep decline this quarter, Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday.

Walt Disney Co said on Wednesday Disney+ has garnered over 50 million paid users globally, with 8 million of them coming from India where the streaming service was launched last week.

Airbus announced plans on Wednesday to cut jetliner production across the board after the coronavirus epidemic triggered aviation's worst industrial crisis and drastically reduced deliveries to cash-starved airlines.

Starbucks Corp said on Wednesday the financial hit from the coronavirus pandemic would extend into the final quarter of 2020, but added that it had no plans to cut its quarterly dividend.

JPMorgan Chase & Co, the largest U.S. bank, has taken action against more than a dozen traders for using WhatsApp at work, firing one and cutting bonuses for the rest, Bloomberg news reported on Wednesday, citing people with knowledge of the matter.

JetBlue Airways Corp on Wednesday asked the U.S. Transportation Department for emergency approval to temporarily suspend service to 11 U.S. airports, including Dallas, Houston, Minneapolis, Portland, Sacramento and Albuquerque.

Dutch health technology company Philips said on Wednesday it struck a deal with the White House that will enable it to significantly ramp up its production of hospital ventilators as promised.

U.S. House Speaker Nancy Pelosi said on Wednesday that $250 billion in coronavirus relief for small businesses desired by Republicans could not pass the House of Representatives on its own under current procedures, which require a unanimous vote of those present while most of Congress is out of town.

Dow Jones Chief Executive Officer Will Lewis is stepping down, parent company News Corp said on Wednesday.