Rich nations pump aid into battered economy as coronavirus deaths in Italy overtake China
The world’s richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicenter Europe, with the number of deaths in Italy outstripping those in mainland China, where the virus originated.
Remote work during coronavirus outbreak puts millions more on Microsoft Teams, Slack
Microsoft Corp’s Teams chat and conferencing app gained more than 12 million daily users in one week, a 37.5% jump as more people worked from home during the coronavirus outbreak, the company said on Thursday.
Toyota extends North America production shutdown through April 3
Toyota Motor Corp said on Thursday it will extend a planned two-day shutdown of all North American plants through April 3 as the spread of coronavirus continues.
U.S. auto suppliers seek government aid to cope with coronavirus hit
The trade group for U.S. auto parts makers on Thursday asked the government for emergency grants “to keep the doors open,” tariff relief and other assistance to cope with mounting pressures from the coronavirus crisis.
U.S. to buy initial 30 million bbls of oil for emergency stockpile
The U.S. Department of Energy said on Thursday it will buy up to 30 million barrels of crude oil for the Strategic Petroleum Reserve by the end of June as a first step in fulfilling President Donald Trump’s directive to fill the emergency stockpile to …
Uber shares soar after CEO says enough cash to ride out coronavirus crisis
Shares of Uber Technologies Inc surged as much as 44% on Thursday after Chief Executive Officer Dara Khosrowshahi said it had plenty of cash on hand to tide over the coronavirus crisis and signaled a recovery in some parts of its business.
Starboard nominates four to eBay’s board, wants outsider as CEO
Activist investor Starboard Value is pressuring eBay for the second time in two years and said on Thursday that it plans to install four directors on the e-commerce company’s 14-member board.
Bank of England ramps up bond-buying, cuts rates to near zero
The Bank of England promised 200 billion pounds of bond purchases and cut its key interest rate to 0.1% in a second emergency move in just over a week to try to mitigate the hit to Britain’s economy from the coronavirus outbreak.
Rio reports first coronavirus deaths as Brazil closes land borders
Brazil’s tourist hotspot Rio de Janeiro reported its first two coronavirus deaths on Thursday, bringing the country’s toll to six, as Latin America’s largest nation closed more borders to visitors and the foreign minister waded into a diplomatic spat w…
Trump says he would support government taking stake in certain companies
President Donald Trump on Thursday opened the door to a radical shift in the U.S. government’s relationship to private industry as the coronavirus outbreak upends the nation’s economy, saying he would back the government taking stakes in certain compan…
