Exclusive: Impossible Foods explores credit line to tackle coronavirus fallout – sources
Impossible Foods is discussing a new credit line worth several hundred million dollars with its lenders, as the plant-based meat company braces for the economic fallout of the coronavirus outbreak, people familiar with the matter said on Tuesday.
Amazon warehouses receive only vital supplies in U.S., Europe amid coronavirus
Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
FedEx suspends 2020 profit outlook, quarterly revenue beats estimates
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
SoftBank backs away from part of planned WeWork bailout: WSJ
SoftBank Group Corp is backing away from part of its planned bailout of WeWork, due to regulatory investigations of the office sharing company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Key U.S. business group opposes shutting U.S. stock trading, short-selling bans
Shutting down the U.S. stock market would be “exactly the wrong thing to do” by depriving businesses and investors of capital just when they need it most, a U.S. Chamber of Commerce official said on Tuesday, adding that the group also opposes any ban o…
Wall Street gives thumbs down to potential shortened trading day
U.S. Treasury Secretary Steven Mnuchin’s suggestion on Tuesday that the country’s stock exchanges might shorten their trading hours did not go over well with investors reeling from Wall Street’s recent plunge sparked by growing fears about the coronavi…
World Bank adds $2 billion to funds available for coronavirus response
The World Bank on Tuesday said it had increased to $14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding $2 billion to an initial package announced on March 3.
Brent crude sinks below $30 a barrel as recession fears weigh
Crude oil prices settled below $30 a barrel on Tuesday as the coronavirus pandemic slowed economic growth and oil demand while Saudi Arabia and Russia kept up their battle for market share.
U.S. regulator proposes path for non-banks to gain deposit license
A U.S. banking regulator proposed a set of standards Tuesday for how it would consider special charters to allow non-banks to accept deposits and engage in other limited banking activities.
Fed moves to backstop funding for companies as coronavirus fallout spreads
The U.S. Federal Reserve on Tuesday acted to ensure companies can continue paying workers and buying supplies through the coronavirus epidemic, as top officials scrambled through the day to broaden efforts to blunt the economic fallout from the health …
