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Boeing Co plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday.

U.S. companies rushed to bulk up their cash reserves amid market turmoil fueled by the global coronavirus outbreak and a plunge in oil prices.

Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices.

The U.S. banking industry is strong and ready to help businesses and consumers weather economic fallout from the fast-spreading coronavirus, Wall Street chief executives told President Donald Trump during a meeting at the White House on Wednesday.

Fears of a U.S. sales slowdown in auto showrooms due to the coronavirus outbreak that has spread globally are appearing in analysts' forecasts, but industry executives said the pandemic has yet to affect demand or factory production.

The cost to insure General Electric Co debt has shot up to levels last seen in 2018, possibly reflecting concern about the company's exposure to coronavirus-induced declines in interest rates, air travel and global growth.

Boeing Co plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday.

The Trump administration is "looking at" investments in Chinese military companies by the California Public Employees' Retirement System (CalPERS), U.S. national security adviser Robert O'Brien said on Wednesday.

Warren Buffett plans to wait until around April 1 to decide whether the coronavirus pandemic will require changes to Berkshire Hathaway Inc's annual shareholder weekend a month later, Omaha, Nebraska's mayor Jean Stothert said.

President Donald Trump will meet with Wall Street executives on Wednesday to discuss the financial industry's response to the coronavirus and the toll it is taking on small businesses, markets and the broader economy, the White House said.

California and other states which had fought a merger of Sprint Corp and T-Mobile US Inc over concerns about higher prices for consumers and less innovation have agreed to end their opposition to the deal in a settlement with the companies.

The dollar weakened and the Dow Jones industrials entered bear market territory on Wednesday on mounting worries about the global economy after world health officials declared a coronavirus pandemic and Reuters reported a White House gag order on top-level U.S. meetings on the outbreak.

Sporting goods retailer Modell's Sporting Goods filed for Chapter 11 protection in the U.S. bankruptcy court in New Jersey on Wednesday, citing a challenging retail environment.

Retailer Best Buy Co Inc said on Wednesday Executive Chairman Hubert Joly would step down and will not stand for re-election at the shareholder meeting on June 11.

Leading U.S. bank executives in a meeting with President Donald Trump at the White House said banks are strongly capitalized and prepared to help small businesses and American consumers weather the coronavirus outbreak.

Boeing Co is freezing new hiring and overtime except in certain critical areas to preserve cash, the U.S. planemaker's CEO said on Wednesday, as the coronavirus outbreak compounds the fallout from a year-old grounding of its money-spinning 737 MAX.

Trump administration officials have postponed for a second time a critical meeting originally set for Wednesday to discuss potential new U.S. restrictions on sales of technology to Huawei and China, people familiar with the matter said.

Private equity firm Blackstone Group Inc is asking companies it controls to draw down their credit lines to avoid liquidity crunch, a Bloomberg reporter tweeted on Wednesday, citing people familiar with the matter.

U.S. passenger railroad Amtrak said on Wednesday that bookings had plunged 50% since the coronavirus outbreak and that it now expected significant service reductions and losses of hundreds of millions of dollars.

Oil prices fell 4% on Wednesday, sinking into the close of trading with renewed weakness in the stock market after the World Health Organization said the global coronavirus outbreak is now a pandemic, and as major oil producers announced plans to escalate the burgeoning price war.