Exclusive: U.S. nears rule-change to restrict Huawei’s global chip supply – sources
Senior cabinet officials in the Trump administration agreed to new measures to restrict the global supply of chips to China’s Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus.
IATA urges G20 to support airline industry
The International Air Transport Association on Thursday urged the group of the 20 major economies to act quickly to prevent irrecoverable damage to the airline industry that has been shaken by the coronavirus crisis.
Caterpillar withdraws 2020 outlook, suspends some operations, amid pandemic
Caterpillar Inc withdrew its earnings guidance for 2020 on Thursday and suspended some operations, citing economic uncertainty amid the novel coronavirus pandemic that has dented equipment sales and hit supply chains.
Explainer: Hobbled IRS tax agency may need months to get cash to Americans
In order to put recession-fighting checks into the hands of millions of Americans, the U.S. government will rely on a tax agency that has fewer workers, a smaller budget and the same 1960s-era computer systems it had the last time it was asked to do so…
Fed’s Powell says virus to dictate when U.S. economy reopens
U.S. Federal Reserve Chair Jerome Powell told Americans on Thursday progress in controlling the spread of the coronavirus would determine when the economy reopens but assured them the Fed was taking every action to support a vigorous rebound when it co…
Two Tesla employees test positive for coronavirus: Business Insider
Two employees of Tesla Inc have tested positive for coronavirus, Business Insider reported on Thursday, citing an internal email.
Mnuchin says Americans to get coronavirus aid within three weeks
Americans should receive cash payments within three weeks to help offset the financial hardships of the coronavirus crisis, Treasury Secretary Steve Mnuchin said, adding that the record jobless claims announced on Thursday are not relevant.
Wall Street gains as job losses stir talk of more stimulus
Wall Street gained more ground on Thursday as the record weekly jobless claims came in below investors’ worst fears, but added to the case for more stimulus to combat the economic impact of the coronavirus pandemic.
Mitsubishi Corp could take Renault stake in alliance rejig: sources
Japan’s Mitsubishi Corp could potentially invest in Renault as part of scenarios being discussed to reinforce an alliance between the French carmaker, Nissan and Mitsubishi Motors, two sources familiar with the matter said.
Senate sends House $2 trillion coronavirus bill; vote expected Friday
The U.S. Senate’s unanimous passage of an estimated $2.2 trillion coronavirus relief bill sent the unprecedented economic rescue legislation to the House of Representatives, whose leaders hope to pass it on Friday.
