Feed aggregator

The $2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry's rescue for the second time in a dozen years.

Tesla Inc will reopen its New York factory "as soon as humanly possible" to manufacture ventilators for coronavirus patients, Chief Executive Officer Elon Musk said on Twitter on Wednesday.

Amazon.com Inc on Wednesday said it temporarily would not require sellers in its marketplace to repay loans it had made to them, as merchants confront the prospect of declining sales during the coronavirus pandemic.

The S&P 500 rallied for a second straight session on Wednesday as the U.S. Senate appeared to near a vote on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.

U.S. crude prices settled higher on Wednesday, bolstered by progress on a massive pending U.S. economic stimulus package, even as government data showed the coronavirus pandemic started undercutting U.S. fuel demand last week.

A group representing major United States semiconductor companies on Wednesday said it was working with federal officials to make clear to state and local officials overseeing lockdowns that chip companies are essential businesses that should continue operations.

The U.S. Senate will vote on Wednesday to give the U.S. aviation industry $58 billion in aid, half in the form of grants to cover some 750,000 employees' paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history.

Qantas Airways Ltd on Wednesday secured A$1.05 billion ($627.8 million) against its aircraft fleet to help it ride out the coronavirus crisis, sending its shares soaring, as airlines in the Asia-Pacific region sliced away capacity and jobs.

Target Corp said on Wednesday it saw a more than 50% rise in same-store sales so far in March for certain essential goods, joining a list of grocery chains benefiting from consumers hunkering down for an extended period due to the coronavirus outbreak.

The dollar slid and global equity markets marched higher on Wednesday, poised for a second day of gains on optimism $2 trillion in U.S. fiscal stimulus will dampen the economic shock the coronavirus pandemic already has started to inflict.U.S. senators will vote Wednesday. Top aides to Republican President Donald Trump and senior Republican and Democrat senators agreed on the unprecedented bill after five days of marathon talks.

Farmers in rural America are expanding food delivery services to meet rising demand from consumers seeking to isolate themselves during the coronavirus pandemic and frustrated by empty grocery-store shelves.

Wall Street rallied for a second straight session on Wednesday as the U.S. Senate neared a vote on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.

U.S stocks seesawed on Wednesday, digesting the previous session's huge rebound, with investors torn as optimism about an imminent $2 trillion coronavirus package was offset by concerned about the lasting economic impact from the pandemic. [.N]

Volkswagen expects the German car market to recover in the summer after the automaker was forced to suspend output because of the coronavirus pandemic, an executive told a newspaper on Wednesday.

Target Corp on Wednesday withdrew its financial outlook and said it would scale back on planned investments to focus on meeting surging demand as Americans stock up on essentials and stay home to slow the spread of the coronavirus outbreak.

More U.S. companies are rushing to adopt so-called poison pills, dusting off a nearly 40-year-old takeover defense tool to ward off hostile bidders and activist shareholders eager to exploit the coronavirus-induced market sell-off.

Indian ride-hailing company Ola, backed by Softbank Group , wants loan waivers for drivers and a delay in tax payments to make up for coronavirus-related lost income, according to a source and document seen by Reuters.

As independent contractors, U.S. ride-hail drivers for Uber and Lyft benefited from soaring trip demand and flexible work hours.

A group of 32 U.S. states have a message for the nation's leading online platforms: You are not doing enough to stop price gouging amid the coronavirus crisis.

The U.S. Securities and Exchange Commission (SEC) said on Wednesday it would extend its prior conditional regulatory relief from disclosure requirements for public companies affected by the coronavirus outbreak.