Reuters Business News

Fiat Chrysler Automobiles NV on Wednesday posted a 10% drop in first-quarter auto sales in the United States, as the fast-spreading coronavirus outbreak hurt demand and halted production from mid-March.

French supermarket retailer Carrefour and Uber Eats said on Wednesday they would launch a new delivery service aimed at helping Parisians buy essential goods and food during the nationwide lockdown triggered by the coronavirus crisis.

Wall Street was set to open sharply lower on Wednesday, as dire predictions on the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets.

As soon as New York officials began detailing their response to the coronavirus, Matt Preis knew his staff might be in trouble.

Deutsche Bank is discussing whether it will waive bonuses for its management board in 2020 due to the fallout from the coronavirus crisis, a person with knowledge of the matter said on Wednesday.

U.S. private payrolls dropped in March for the first time in 2-1/2 years, likely as businesses shut down in compliance with strict measures by authorities to contain the coronavirus pandemic, supporting economists' views that the longest employment boom in history probably ended last month.

The German government stands ready to take over Condor as a deal for the airline to be bought by Polish rival LOT is likely to collapse in the industry turmoil caused by the coronavirus crisis, several people familiar with the matter told Reuters.

Whiting Petroleum Corp said on Wednesday it had started Chapter 11 bankruptcy proceeding amid a rout in crude oil prices that has seen fuel plunge to 18-year lows.

German sportswear maker Adidas apologizes on Wednesday for saying it would stop paying rent for stores around the world forced to close by coronavirus lockdowns after a storm of criticism, saying it would pay up for April after all.

As companies cut dividends in response to the financial havoc caused by the coronavirus, fund managers whose portfolios rely on the payouts are sifting for those most likely to deliver a sustainable yield when the world recovers.

The European Commision proposed a short-time work scheme on Wednesday modelled on Germany's Kurzarbeit programme to help people keep their jobs as the coronavirus pandemic hits economies across the 27-nation bloc.

U.S. stock index futures sank on Wednesday, as stark predictions of a rise in the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets.

U.S and Russian energy officials held rare talks about oil after crude prices crashed to levels last seen about two decades ago, while President Donald Trump said oil that was cheaper "than water" was hurting the industry.

The German government stands ready to take over airline Condor after an agreement by Polish carrier LOT to acquire the carrier is likely to collapse, several people familiar with the matter told Reuters.

World markets fell on Wednesday as the coronavirus threat ensured an ugly start to April and the second quarter for equities and commodities.

With the euro zone economy in need of help during the coronavirus epidemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it.

Argentina will continue talks this week and next with creditors over restructuring its $83 billion in foreign debt, Economy Minister Martin Guzman said on Tuesday, after the South American country missed the March 31 deadline it had set previously.

The European Commision proposed on Wednesday a new state-supported short-time work scheme to help people keep their jobs as the coronavirus epidemic takes its toll on economies across the 27-nation bloc.

The world's biggest maker of medical gloves is grappling with a serious shortage of workers as it tries to meet a huge surge in demand as countries such as the United States run out of personal protective gear due to the coronavirus outbreak.

Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending.