Trump administration aims to buy milk, meat to help farmers hit by coronavirus: Perdue
The Trump administration plans to buy milk and meat from U.S. farmers as part of an initial $15.5 billion effort to help them weather the impact of the coronavirus outbreak, Agriculture Secretary Sonny Perdue said on Wednesday.
American Airlines CEO says government aid should cover financing needs if demand recovers: CNBC interview
American Airlines Group Inc Chief Executive Doug Parker told CNBC on Wednesday that the $10.55 billion it will receive in federal grants and loans should be “more than sufficient” to cover its financing needs, assuming a gradual recovery in demand by …
Bank of America gives dour economic outlook, profit falls
Bank of America Corp reported a 48.5% drop in first-quarter net income on Wednesday, warning that it anticipated a recession because of the novel coronavirus and setting aside an additional $3.6 billion to cover potential losses.
U.S. crude stocks jump by a record 19 million barrels as refiners cut back: EIA
U.S. crude oil stockpiles rose by 19 million barrels last week, the biggest one-week increase in history, the U.S. Energy Information Administration said, as refiners throttled back activity due to slumping demand as a result of the coronavirus pandemi…
OPEC+ or minus? Oil supply cut numbers puzzle markets
Days after OPEC+ reached a record deal to cut oil output in an attempt to shore up a market reeling from the coronavirus crisis, their calculations are in question.
Deloitte and EY join rivals in cutting pay during pandemic
Global accounting and consulting firms Deloitte and EY said on Wednesday they were cutting pay for partners at their UK businesses by a fifth to protect jobs during the coronavirus crisis, mirroring moves at rivals PwC and BDO.
Aston Martin extends manufacturing suspensions by a week over coronavirus
Luxury carmaker Aston Martin is extending by a week the manufacturing suspensions in place at its two factories as lockdown measures designed to stop the spread of coronavirus remain in place in Britain.
Amazon to close French warehouses until next week after court order
Amazon will close its warehouses in France until at least early next week after a court ordered it to limit deliveries to essential goods such as food and medical supplies.
Wall St tumbles on gloomy economic data, bank earnings
Wall Street’s main indexes slid 2% on Wednesday, as a record drop in retail sales and dour first-quarter earnings reports lent weight to forecasts for the biggest economic slump since the Great Depression.
IMF, World Bank leaders praise G20 debt relief initiative
International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief agreement that suspends bilateral debt servbice payments by poor countries.
