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Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as it prepared for losses driven primarily by its credit card business, and analysts raised worries that there is more pain to come as the economic outlook darkens.

Harley-Davidson Inc said on Wednesday it had temporarily laid off most of its global production employees and implemented salary cuts in a bid to lower costs as the coronavirus pandemic has hurt its business.

Lyft Inc on Wednesday said it has launched a new on-demand delivery service to provide essential goods, including groceries, meals and medical supplies, to people in need during the coronavirus crisis.

U.S. stocks fell on Wednesday as dismal economic and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak.

A federal judge said Tesla Inc must face a lawsuit claiming it misled shareholders when Chief Executive Elon Musk tweeted in August 2018 that he was considering taking the electric car company private.

Some investors are wary about buying into a recent stock market rally. Even with hopes for a quick reopening of the economy, they want more evidence that the United States will not restart, only to have to fall back under another coronavirus lockdown soon.

U.S. companies have been battered by the fallout from the novel coronavirus outbreak as economic activity "contracted sharply and abruptly across all regions," a report by the Federal Reserve released on Wednesday showed.

Amazon's moves to reduce strain on its grocery businesses by putting new online shoppers on wait lists and switching more Whole Foods resources to filling orders, is unmasking limitations at the company that was expected to upend the supermarket industry.

The millions of bits of cellphone data tracked by analytics firm Unacast show the economic impact of the coronavirus spreading across the United States like a deep freeze - long-distance travel was hit early on, but eventually overall retail foot traffic slowed to a crawl, too.

Numerous major U.S. airlines are preparing to apply this week for a $25 billion U.S. government loan program after winning billions in federal payroll grants, people familiar with the matter said.

Zoox Inc said on Tuesday it had settled a lawsuit with Tesla Inc after admitting that some new hires from the electric carmaker were in possession of certain Tesla documents when they joined the U.S. self-driving car startup.

Volkswagen on Wednesday said factories producing cars for its core brand in Zwickau, Germany and Bratislava, Slovakia will resume production starting on April 20, with other locations ramping up plants starting from April 27 onwards.

Oil prices were mixed on Wednesday after the United States reported a 19 million-barrel jump in inventories, the biggest weekly build ever, while forecasts showed global demand crumbling to its lowest levels in a quarter-century due to the coronavirus pandemic.

Saudi Aramco has offered oil refineries in Asia and Europe the option to defer payments for crude cargo deliveries by up to 90 days as plants struggle with shrinking demand, four refining industry sources said.

Harley-Davidson Inc said on Wednesday the majority of its global production employees were currently on a temporary layoff due to the coronavirus pandemic.

Ryanair is steeling for an airline price war that it expects to win once coronavirus restrictions are lifted and passengers flock back to tourist destinations, Chief Executive Michael O'Leary told Reuters on Wednesday.

The S&P 500 recoiled from a four-week high on Wednesday, as dire forecasts for the worst economic downturn since the Great Depression were strengthened by a crash in business activity and dismal first-quarter earnings reports.

Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world's poorest countries from May 1 until the end of the year, as a group of private creditors also backed offering debt relief.

International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday the Fund was deploying all its resources and was looking to triple its concessional financing for the poorest countries to over $18 billion.

Japanese automaker Honda Motor Co said Wednesday it will extend a shutdown of its Mexican plants through April 30 and plans to furlough most U.S. salaried workers for two weeks as a result of the coronavirus pandemic.