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The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.

The COVID-19 pandemic is forcing the world's biggest advertising company WPP to accelerate its strategy of bringing its multiple agencies together to produce work more quickly for clients battling to cut costs.

U.S. consumers have begun spotting rare Quilted Northern and Charmin toilet paper rolls on store shelves across the United States, as stocks start building after weeks of severe shortages.

Volkswagen urged the German government on Wednesday to help boost demand for cars as the coronavirus pandemic triggered a plunge in first-quarter operating profit and the world's biggest automaker warned of a difficult second quarter.

German auto supplier and technology company Robert Bosch [ROBG.UL] on Wednesday said it expected automotive production to fall by at least 20% this year, as the coronavirus pandemic slams the brakes on factory production lines and saps demand.

Britain's John Lewis Partnership has appointed James Bailey, a former director of Sainsbury's , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.

Top managers at Nivea-maker Beiersdorf are waiving 20% of their fixed compensation between April and December, Chief Executive Stefan De Loecker said on Wednesday, adding that the level of management below them was also foregoing 5% of its pay.

Britain's John Lewis Partnership [JLPLC.UL] has appointed James Bailey, a former director of Sainsbury's , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.

British clothing retailer Next has shored up its finances to help get it through the coronavirus crisis by selling property, suspending share buybacks and dividends and cutting costs after first-quarter sales fell 41%.

Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.

Volkswagen on Wednesday said it expected to be profitable on a full-year basis even as the coronavirus pandemic caused first-quarter earnings to plunge.

Volvo Car Group, owned by China's Geely Holding, said on Wednesday it was giving notice of redundancy to 1,300 white-collar workers in Sweden as the impact from the pandemic raised the urgency of lowering structural costs.

World shares eked out slim gains on Wednesday, with optimism over economies easing coronavirus lockdowns and oil prices clawing back ground leavened by caution over corporate earnings.

Standard Chartered PLC on Wednesday said it expects its main markets to lead global economic recovery from the COVID-19 crisis as early as later this year, striking an optimistic note after increased bad loan provisions squashed quarterly profit.

Shares in airline group IAG fell 3% after the airline group launched a plan to shrink its main British Airways business, axing staff numbers by a quarter as it warned of a slow recovery from the coronavirus pandemic.

WPP said on Wednesday the COVID-19 pandemic had forced its net sales down by 7.9% in March and the world's biggest advertising company expects worse to come, prompting it to cut yet more costs across the group.

AstraZeneca beat analysts' estimates for first-quarter profit and reiterated its 2020 outlook on Wednesday, as demand for the drugmaker's newer medicines held up and its supply chain proved resilient to the coronavirus-induced disruptions.

Britain's Fevertree Drinks said on Wednesday co-founder Charles Rolls plans to step down from his role as non-executive deputy chairman at the company's annual general meeting in June.

British clothing retailer Next said on Wednesday total product sales in its latest quarter crashed 41%, reflecting the closure of all its stores in the coronavirus lockdown and the temporary shutdown of its online operations.

Malaysia's AirAsia Group Bhd said on Wednesday it did not intend to take any new aircraft deliveries this year because of the sharp fall in demand from the coronavirus crisis, and was revisiting its order book with Airbus SE .