Reuters Business News

Boeing Co Chief Executive Dave Calhoun said on Tuesday he does not want the U.S. Treasury to take an equity stake in the planemaker as a condition of government loans as credit markets freeze amid the coronavirus pandemic.

Cannabis sales are touching new highs as customers across the United States and Canada stockpile weed to prepare for long spells of isolation because of the coronavirus pandemic.

Oil prices were little changed on Tuesday, giving up an earlier rally, as ongoing worries about the heavy toll the coronavirus pandemic will take on demand offset hopes for a forthcoming $2 trillion U.S. economic relief package.

Wall Street snapped back from three-year lows and the Dow jumped more than 1,500 points on Tuesday, as hopes of Washington passing an economic rescue package provided a shot of optimism to markets reeling under the biggest selloff since the financial crisis.

Streaming service Netflix Inc and social media giant Facebook Inc said on Tuesday they would reduce the amount of data their services use to ease congested telecoms networks in India, where millions are using home internet amid a lockdown to contain the coronavirus outbreak.

Renault workers in Spain have begun using 3D printers to manufacture visors for health workers from home, the French carmaker said on Tuesday, in a scheme that could be expanded to make other medical equipment elsewhere.

Britain has told airlines it will only consider stepping in to help them survive the coronavirus crisis once they have explored the possibility of raising capital from other sources including existing investors.

Chevron Corp cut its capital spending budget by $4 billion on Tuesday, leading a wave of cost-cutting announcements across the oil-and-gas industry as it reels from declining demand in the face of the coronavirus pandemic and a dramatic slide in prices.

U.S. investors will likely see sharp declines in capital returns this year as companies look to conserve cash during the coronavirus crisis, according to S&P Dow Jones Indices which is predicting a significant first-quarter decline in buybacks and a dismal second quarter.

Shortly after British Prime Minister Boris Johnson ordered the closure of non-essential retailers on Monday to curb the spread of coronavirus, the parent company of Sports Direct wrote to its staff to let them know: the next day would be business as usual.

A price war between the world's oil powerhouses is leaving many producers in Latin American struggling to cover production costs, boosting chances of output cuts and investment delays in coming months.

Broad powers over U.S. factories brought in by President Donald Trump could fuel protectionism and jeopardize the supply of critical medical equipment to fight the coronavirus pandemic, Dutch health technology company Philips warned on Tuesday.

A blistering dollar rally has revived speculation that the U.S. may rein in its currency if the buck goes much higher.

U.S. lawmakers are nearing agreement on a package of grants for passenger and cargo airlines and contractors worth $32 billion as part of a massive U.S. stimulus and rescue package amid the massive travel demand falloff because of the coronavirus outbreak, three people briefed on the matter said.

For European governments battling to brace economies pummeled by the coronavirus, there might be no better time to go green.

Phillips 66 is delaying three sizeable scheduled shutdowns at its refineries this year, the company said on Tuesday, because of concerns that coronavirus could spread among the refineries' workers if the maintenance goes ahead.

Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic which is boosting unemployment and severely disrupting economic activity.

The healthcare unit of French industrial gases company Air Liquide said on Tuesday it was ramping up production of ventilators needed by hospitals to deal with the coronavirus outbreak.

Oil rose over 3% on Tuesday after the U.S. Federal Reserve said it would take steps to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.

Oilfield services firm Halliburton is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.