Coming next from the Fed: How much for Main Street?
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Fed says modifying Wells Fargo asset cap so bank can make more small business loans
The U.S. Federal Reserve said on Wednesday it would “temporarily and narrowly” modify the growth restriction on Wells Fargo & Co’s asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.
Oil futures pare gains after U.S. inventories surge most on record
Oil prices pulled back Wednesday, with benchmark Brent turning negative as U.S. crude inventories surged the most on record, but the pullback was muted by hopes that a meeting between OPEC and allied producers on Thursday will trigger output cuts.
Nordstrom temporarily shutters headquarters on coronavirus fears
Nordstrom Inc has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
Ferrari to pilot employee screening for coronavirus: Elkann
Luxury group Ferrari will pilot a project to conduct voluntary screening of employees and their families to better fight the novel coronavirus outbreak, the head of holding group Exor , which controls the supercarmaker, said on Wednesday.
Video service Zoom taking security seriously: U.S. government memo
Video conferencing company Zoom has been responsive to concerns over its software, the U.S. Department of Homeland Security (DHS) said in a memo recently distributed to top government cybersecurity officials and seen by Reuters.
Exclusive: Venezuela gasoline shortages worsen as U.S. tells firms to avoid supply – sources
Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation.
U.S. dollar drifts higher as optimism ebbs on coronavirus crisis
The U.S. dollar edged higher on Wednesday in choppy trading, attracting safe-haven bids, as optimism faded that the coronavirus crisis may be nearing a peak and investor concerns remained over the economic fallout of the pandemic.
EasyJet founder seeks to oust directors over Airbus plane order
EasyJet’s founder Stelios Haji-Ioannou demanded on Wednesday a shareholder vote to remove two directors, as part of his battle to try to force the British airline to cancel an order for 107 Airbus planes.
JetBlue seeks government permission to suspend flying at some airports as demand drops
JetBlue Airways Corp said on Wednesday it is consolidating flights in five U.S. metropolitan areas into just one or two airports and also asking the U.S. Department of Transportation to exempt it from flying at other airports where current demand does…
