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China remains "very, very committed" to meeting its commitments under a Phase 1 trade deal with the United States, despite the unprecedented economic and health impacts of the new coronavirus outbreak, a senior U.S. trade official said on Wednesday.

Delta Air Lines , JetBlue Airways Corp and Spirit Airlines on Tuesday asked the U.S. Transportation Department for approval to suspend flights to more than two dozen U.S. airports.

Shares of Blue Apron Holdings Inc slumped as much as 33% on Wednesday as the meal-kit company posted a steep decline in quarterly sales even after seeing a boost in orders from Americans confined to their homes amid coronavirus-led lockdowns.

Lyft Inc plans to lay off 982 employees, or 17% of the ride-hailing firm's workforce, due to economic challenges caused by the coronavirus pandemic, the company said in a regulatory filing on Wednesday.

The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession as stringent measures to slow the spread of the novel coronavirus almost shut down the country, ending the longest expansion in the nation's history.

U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants.

Yum Brands Inc said on Wednesday sales in April showed signs of improvement as stay-at-home consumers ordered in more and diners returned to restaurants after certain countries started to ease restrictions.

BP is donating 3 million gallons of jet fuel to FedEx and Alaska Airlines [ALKAIR.UL] to help with the distribution of personal protective equipment in the battle against the new coronavirus.

The European Commission approved on Wednesday a 5 billion euro ($5.4 billion) loan guarantee to carmaker Renault group to mitigate the impact of the coronavirus crisis.

Switzerland and Austria pledged to help Lufthansa with state-backed loans as the German airline pursues talks with Berlin over a 9 billion euro ($9.8 billion) rescue package.

Top Boeing Co shareholder Vanguard Group voted against the company's chairman Lawrence Kellner, citing "control failures" under its audit committee after two 737 MAX plane crashes, according to a stewardship report issued on Wednesday that will further pressure the planemaker.

With the U.S. economy poised for a sharp rebound, it is time for policy to move from a "cash" rescue phase to focus on more long-term measures that can underpin growth, a top White House adviser said on Wednesday.

Yum Brands Inc reported a 7% fall in quarterly comparable store sales on Wednesday, as many restaurants across its brands were closed or limited to delivery and take-away due to lockdowns to curb the spread of the novel coronavirus.

Wall Street jumped on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants.

A gauge of global stocks climbed on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices surged.

Royal Bank of Scotland chairman Howard Davies said on Wednesday the coronavirus pandemic had "changed everything" and its impact on society and the economy would likely be "stark and long-lasting".

The Swiss government is working primarily with UBS Group and Credit Suisse on a nearly 1.9 billion Swiss franc ($1.95 billion) package of state-backed loans for the coronavirus-hit aviation sector, it said on Wednesday.

Boeing Co said on Wednesday it would cut its workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove the planemaker to a net loss for the second straight quarter.

Luckin Coffee Inc said on Wednesday it would not file its annual financial report on time as it was dealing with investigations into hundreds of millions of dollars worth of fabricated sales.

U.S. Senate Majority Leader Mitch McConnell on Wednesday doubled down on his demand that Congress protect businesses from coronavirus-related liabilities in its next legislative package for combating the pandemic.