Exclusive: Amazon to receive only vital supplies at U.S., UK warehouses amid coronavirus outbreak
Amazon.com Inc will only receive vital supplies at its U.S. and UK 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.
American Express sees hit to spending volumes from coronavirus
American Express said http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20200317:nBwbFGJpRa on Tuesday spending volumes fell at the end of February and well into March as the coronavirus pandemic wreaks havoc on consumer spending, leading it to forecast low-single-digit percentage revenue growth for the first quarter.
Oil sinks below $30 as recession fears weigh
Oil fell below $30 a barrel on Tuesday to its lowest since 2016 as the coronavirus pandemic hits economic growth and oil demand while Saudi Arabia and Russia battle for market share.
Nissan stops production at UK factory over coronavirus impact
Nissan has stopped output at Britain’s biggest car factory due to the impact from coronavirus as it assesses supply-chain disruption and the drop in demand, the most significant closure to affect the country’s autos sector so far from the outbreak.
Facebook to award $100 mln in cash grants, ad credits to small businesses
Facebook Inc said Tuesday it plans to award $100 million in cash grants and ad credits for up to 30,000 small businesses in over 30 countries to address the economic impact of the coronavirus outbreak.
U.S. retail sales post biggest drop in a year; coronavirus drag awaited
U.S. retail sales fell by the most in more than a year in February and the coronavirus pandemic is expected to depress sales in the months ahead, which could strengthen economists’ expectations of a consumer-led recession by the second quarter.
GM employee at Michigan tech center tests positive for coronavirus
General Motors Co said on Tuesday an employee at its Michigan technical center tested positive for coronavirus.
Fed plans steps to ease short-term borrowing for companies
The Federal Reserve is planning to reinstate a facility previously used during the 2007-09 financial crisis to improve liquidity in a key short-term funding market, two sources familiar with the matter told Reuters.
U.S. job openings rebound; labor market strong before coronavirus outbreak
U.S. job openings rebounded in January after two straight monthly declines, but signs of strength in the labor market at the start of the year have been overshadowed by the coronavirus pandemic, which has severely disrupted economic activity.
Ford suspends production at two German plants – source
Carmaker Ford is suspending production at its plants in the western German cities of Cologne and Saarlouis due to the coronavirus epidemic, a source told Reuters.
