Explainer: Euro zone eyes package to support economy against coronavirus
With the euro zone economy in need of help from the coronavirus pandemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it.
Exclusive: Fiat Chrysler, GM try discounts, online buying to lift plunging U.S. sales
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors Co moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online.
Democrats urge U.S. Treasury not to delay $25 billion in grants to airlines
U.S. House Speaker Nancy Pelosi urged the U.S. Treasury on Wednesday not to hold up $25 billion in cash grants approved by Congress last week to airlines for payroll costs.
WarnerMedia taps ex-Hulu chief Jason Kilar as CEO
AT&T Inc on Wednesday named Jason Kilar, former head of video streaming platform Hulu, as chief executive officer of its WarnerMedia unit starting in May, when it plans to launch its HBO Max service to compete with streaming heavyweights Netflix and Disney+.
EU exec proposes shorter work hours to prevent layoffs amid epidemic
The EU executive proposed on Wednesday a wage-subsidy scheme to encourage employers to cut workers’ hours rather than their jobs amid the coronavirus epidemic, a plan that could be worth 100 billion euros in borrowing guaranteed by all EU countries.
Pelosi urges U.S. Treasury not to delay $25 billion in grants to airlines
U.S. House Speaker Nancy Pelosi urged the U.S. Treasury on Wednesday not to hold up $25 billion in cash grants approved by Congress last week to airlines for payroll costs.
AT&T names Jason Kilar as CEO of WarnerMedia
AT&T Inc on Wednesday named Jason Kilar, former head of video streaming platform Hulu, as the chief executive officer of its unit WarnerMedia, effective May 1.
Meal delivery firms branch out into groceries during crisis
Uber Eats and Delivery Hero are expanding from providing restaurant meals into supplying groceries to customers stuck at home during lockdowns triggered by the coronavirus crisis.
Oil benchmarks mixed after U.S. gasoline, crude stocks jump
Brent crude fell while U.S. futures dipped before recovering on Wednesday, after U.S. crude inventories rose last week by the most since 2016, while gasoline demand fell sharply due to the coronavirus pandemic.
U.S. manufacturing contracts; private payrolls post first drop since 2017
U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists’ views that the economy was in recession.
