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Swift government action is needed to help global airlines that are in a desperate situation and running out of cash, the International Air Transport Association warned on a media call on Tuesday.

The U.S. Senate on Tuesday prepared to weigh a multibillion-dollar emergency spending bill passed by the House of Representatives offering some economic relief from the coronavirus outbreak as the Trump administration pressed for billions more.

Retailers have been closing stores around the globe to reduce the risk of transmission of the coronavirus, which has killed over 6,500 people and infected more than 174,000 while disrupting supply and production chains.

Amazon.com Inc on Monday said it would hire 100,000 warehouse and delivery workers in the United States to deal with a surge in online orders, as many consumers have turned to the web to meet their needs during the coronavirus outbreak.

Ventas Inc said on Tuesday it was experiencing a slowdown in move-ins at its senior housing business and withdrew its 2020 financial forecasts, as the coronavirus pandemic raises the risk of tenants moving out.

Fiat Chrysler (FCA) has resumed limited production at its Atessa facility in Italy, the automaker's only open assembly plant, having halted operations at most of its European factories, a spokesman said on Tuesday.

The Trump administration plans is seeking a $850 billion stimulus package aimed at buffering the economy against fallout from coronavirus, the Washington Post reported on Tuesday citing four unnamed officials familiar with the plan.

Oil traded near $30 a barrel on Tuesday, close to its lowest since 2016, and analysts said more declines may follow as the coronavirus pandemic hits demand and Saudi Arabia and Russia battle for market share.

Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects cash outflows to continue until 2021, adding that these have already been provisioned for.

Volkswagen Group , the world's biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday.

L Brands Inc said on Tuesday it would temporarily close all its stores, including those of Bath & Body Works and Victoria's Secret, in the United States and Canada through March 29 and that it has drawn down $950 million from an existing credit line due to the coronavirus outbreak.

China's JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares, after the e-commerce company estimated a growth in sales in the current quarter that has been ravaged by the coronavirus outbreak.

U.S. stock index futures rose in volatile trading on Tuesday, a day after Wall Street's steepest fall since 1987, as drastic efforts to contain the coronavirus pandemic paralyzed parts of the economy and crushed business sentiment.

China's e-commerce company JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares as the coronavirus outbreak grows bigger.

Oil fell below $30 a barrel on Tuesday, trading close to its lowest in more than four years, as the coronavirus pandemic hit demand and Saudi Arabia raised output to a record as it battles with Russia for market share.

Trading house Glencore has chartered the 3 million barrel crude carrier 'Europe' to store oil at sea for at least 6 months, trading sources on Tuesday.

British Airways is due to make an unspecified number of pilots redundant according to UK pilot union BALPA, as the airline seeks to reduce its costs to try survive the coronavirus crisis.

Singapore Airlines on Tuesday said it would cut capacity further as border controls are enforced across the world in a bid to curb the spread of the coronavirus epidemic.

Russia's airlines could lose 100 billion roubles ($1.4 billion) due to the coronavirus outbreak and risk going bankrupt, the head of Russia's Federal Air Transport Agency, also known as Rosaviatsiya, told the Interfax news agency.

Abu Dhabi's Etihad Airways said on Tuesday it was expanding its cargo network to markets where passenger operations have decreased due to the coronavirus epidemic.