Reuters Business News

U.S. airlines called on Friday for a government stimulus package to help them weather the coronavirus crisis by providing payroll protections, warning that around 750,000 jobs depend on the airline industry.

Four Democratic U.S. senators on Friday expressed concern in a letter to Amazon.com Inc Chief Executive Jeff Bezos that the world's largest online retailer has not given enough support to warehouse staff during the coronavirus outbreak, according to a copy of the message seen by Reuters.

Wells Fargo & Co said on Friday it is suspending residential property foreclosure sales, evictions and involuntary automobile repossessions due to the coronavirus outbreak.

Bank of America Corp's consumer division has hired 1,700 people in critical support roles so far this month, a spokesman said on Friday, as the industry faces a surge in customer service demand due to concerns about the coronavirus outbreak.

Groups representing major automakers and suppliers asked U.S. lawmakers on Friday to consider new tax relief and delay the start of a new trade deal as auto sales decline as a result of the coronavirus pandemic.

The U.S. government will give individuals and companies an extra three months to file their 2019 tax returns, extending the deadline to July 15 amid the coronavirus outbreak.

The U.S. unemployment benefits program, a key part of the safety net for the labor market, is facing its biggest test in more than a decade.

Lyft Inc on Friday told drivers they could sign up for work driving deliveries under a new service as ride-hailing demand plummets during the rapid spread of coronavirus in the United States.

Goldman Sachs Group Inc Chief Executive David Solomon's total compensation rose by 19%, or $4 million, for 2019 compared with 2018, according to a regulatory filing released on Friday.

U.S. stock valuations are tumbling in the wake of the coronavirus-fueled market rout, but determining when equities are cheap enough to buy is a tricky proposition.

German carmaker Volkswagen said on Friday it was joining other manufacturers around the world to explore using 3D printing to make hospital ventilators to combat the coronavirus.

The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in Texas considered curbing production there for the first time in nearly 50 years.

Boeing Co will cancel CEO pay, suspend its dividend and extend a pause on share buybacks, the U.S. planemaker said on Friday, as companies eager for government aid to curb fallout from the coronavirus face pressure to cut payouts to investors.

Wall Street wrapped up its worst week since October 2008, with the Dow Jones Industrial Average and S&P 500 sliding more than 4% on Friday as tough restrictions imposed by New York and California to try to limit the spread of the coronavirus fueled worries about damage to the U.S. economy.

Panama's Copa Airlines on Friday said it will suspend all operations from March 22 until April 21, making it the first Latin American carrier to take such a drastic measure in order to weather the coronavirus crisis.

Grocers including Walmart de Mexico have begun bowing to pressure to pull from stores tens of thousands of elderly workers who pack bags at checkouts as concerns grow about their vulnerability to coronavirus amid panic buying nationwide.

The death toll from an outbreak of coronavirus in the northern Italian region of Lombardy, which has borne the brunt of a nationwide contagion, has risen by around 380 in a day to some 2,550, a source said on Friday.

BMW AG said on Friday it will temporarily close its South Carolina plant for two weeks starting April 3.

Goldman Sachs Group Inc's Chief Executive David Solomon got a $4 million raise in his total compensation for 2019 from 2018, according to corporate filings released on Friday.

Troubled fashion retailer Ted Baker Plc said on Friday it has shut businesses that accounted for about 38% of its global retail sales in 2020 due to the coronavirus outbreak.