Amazon to stop non-essential sales in India
Amazon.com Inc’s India unit on Tuesday said it will halt orders for non-essential products in India to prioritize customers’ critical needs at a time when much of the country is under lockdown to prevent the spread of coronavirus.
Oil rises on Fed steps to support economy, hopes of U.S. aid package
Oil rose about 2% on Tuesday after the U.S. Federal Reserve said it would take step to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.
Wall Street bounces on hopes of $2 trillion stimulus, Boeing boost
Wall Street bounced from three-year lows on Tuesday on hopes of a major fiscal stimulus to blunt the economic damage from the coronavirus pandemic, while Boeing surged on signs that its grounded jet could fly by the middle of the year.
After solid fourth-quarter, investors should brace for U.S. buyback come-down
After a 3.2% increase in U.S. corporate share buybacks between the third and fourth quarters, investors will see Q1 reductions and a “dismal” Q2 as companies look to conserve cash during the coronavirus crisis, according to S&P Dow Jones Indices.
Ford joins GE, 3M in speeding up ventilator, respirator production
Carmaker Ford Motor Co on Tuesday jumped into the emergency push by major U.S. manufacturers to produce thousands of ventilators and respirators needed to help combat the spread of the coronavirus under a partnership code-named “Project Apollo.”
Ford extends production halt at U.S. plants beyond March 30
Ford Motor Co said on Tuesday it does not plan to restart production at its manufacturing plants in the United States, Canada and Mexico on March 30, as was originally planned.
UK tells airlines to try raising own capital before state will help: source
Britain has told airlines that state investment to help them survive the coronavirus crisis will only be considered once they have looked at the possibility of raising capital from existing investors, a person familiar with the situation said.
Airlines beg for rescue as coronavirus hit soars to $250 billion
Global airlines urged governments on Tuesday to speed up bailouts to rescue the air transport industry as they doubled their estimate of 2020 revenue losses from the coronavirus crisis to more than $250 billion.
U.S. new home sales fall; January revised sharply up
Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic, which is boosting unemployment and severely disrupting economic activity.
Spirit AeroSystems suspends Boeing-related production for two weeks
Spirit Aerosystems , Boeing Co’s largest supplier, is temporarily suspending production for the airplane maker at many of its facilities in the United States for two weeks, as the global coronavirus pandemic saps demand across the industry.
