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Updated: 4 years 29 weeks ago
Exclusive: UK industry expects ventilator production go-ahead on Wednesday - sources
British industry expects the government to give the go-ahead to an emergency ventilator production plan on Wednesday that will see a number of firms join forces to tackle the coronavirus outbreak, three sources told Reuters.
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China suspends Bristol-Myers' cancer drug over findings at U.S. plant
China has suspended sale, import and use of Bristol-Myers Squibb Co's cancer drug, Abraxane, the U.S. drugmaker's China marketing partner said on Wednesday.
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Nike shares rise as Wall Street lauds recovery in China sales
Nike Inc shares rose 8% on Wednesday after the sportswear maker's impressive recovery in China sales offered hope that it was prepared to cope with the financial fallout of the coronavirus pandemic in other markets.
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Britain continuing talks over support for airlines: pilots' union
Britain is continuing talks with the aviation industry about how best to support the sector, Prime Minister Boris Johnson and a pilots' union said on Wednesday, reviving the prospect of a sector-specific support package that had seemed to be on hold.
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U.S. Senate coronavirus bill to help airlines with grants: CNBC
U.S. airlines would receive direct grants and would not be able to lay off employees for a set time under the coronavirus relief legislation agreed to by the U.S. Senate on Wednesday, according to a CNBC report.
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Wall Street gains as Washington reaches deal on $2 trillion aid
Wall Street on Wednesday extended its massive bounce from the previous session as Washington reached a deal for a $2 trillion stimulus package to help businesses and millions of Americans hit by the economic fallout of the coronavirus pandemic.
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Occidental to add three of Icahn's associates to board
Occidental Petroleum Corp said on Wednesday it would add to its board three of activist investor Carl Icahn's associates, ending a long and bitter fight that began after its ill-timed acquisition of rival Anadarko Petroleum.
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Stocks rebound grinds past 10% after $2 trillion U.S. stimulus boost
A breakneck rebound in world stocks made it past the 10% mark on Wednesday before more global coronavirus warnings and fresh turbulence in commodity markets saw things grind to a halt.
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IATA says air freight traffic fell around 10% in February
Figures to be published next week will show global air freight traffic fell around 10% in February, putting it on course for a 15-20% drop for the year as a whole, an official at the International Air Transport Association said on Wednesday.
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Johnson says UK doing everything it can to help aviation industry
The British government has not washed its hands of any sector and is doing everything it can to help the aviation industry through the coronavirus crisis, Prime Minister Boris Johnson said on Wednesday.
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S&P 500 set to dip after bumper session as virus threat rages on
The S&P 500 was set to open lower on Wednesday after a strong rebound in the previous session as optimism about an imminent $2 trillion coronavirus package waned, with investors still concerned about the lasting economic hit from the pandemic.
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Oil majors slash 2020 spending 18% after prices slump
The world's biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.
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A falling yen may not be the economic cure Japan seeks
Fallout from the coronavirus outbreak may finally lift the curse of the safe-haven yen for Japan but policymakers fear fiscal laxity could lead to a currency free-fall eventually, undermining efforts to cushion the economy from the pandemic.
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Exclusive: India likely to unveil $20 billion-plus stimulus package to tackle coronavirus downturn - sources
India is likely to agree an economic stimulus package of more than 1.5 trillion rupees ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters.
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UK's Sainsbury's to assist smaller suppliers during coronavirus pandemic
British supermarket Sainsbury's said on Wednesday it would help its smaller suppliers during the coronavirus emergency by paying them immediately and making finance available.
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Thyssenkrupp to cut 3,000 jobs at struggling steel unit
German conglomerate Thyssenkrupp will cut 3,000 jobs and invest 4.2 billion euros ($4.6 billion) at its struggling steel division by 2026 as part of a wage deal struck with powerful labor union IG Metall, it said on Wednesday.
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Exclusive: ECB's Lagarde asked euro zone ministers to consider one-off 'coronabonds' issue - officials
The head of the European Central Bank Christine Lagarde asked euro zone finance ministers at a videoconference on Tuesday evening to seriously consider a one-off joint debt issue of "coronabonds" to help fight the epidemic, two officials said.
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Stocks rebound passes 10% after $2 trillion U.S. stimulus boost
A rebound in world stocks reached a lofty 11% on Wednesday and commodities made gains too, as coronavirus-battered markets leapt on news of a $2 trillion U.S. fiscal stimulus package.
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Walmart taps Sameer Aggarwal as CEO of Indian unit, says in touch with suppliers
Walmart Inc on Wednesday named Sameer Aggarwal chief executive officer of Best Price, its Indian cash and carry business, and said it was in touch with supplier partners for adequate stocking at its stores during the 21-day government sanctioned lockdown.
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China to resume U.S. LPG imports as Beijing waives trade-war tariff: sources
China has begun buying U.S. liquefied petroleum gas (LPG) again after a hiatus of nearly 20 months as Beijing waived punitive tariffs to boost imports of U.S. goods as part of the Sino-U.S. Phase 1 trade deal, industry sources said.
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