U.S. business inventories slip in January
U.S. business inventories fell as expected in January, suggesting that any lift to gross domestic product in the first quarter from a shrinking trade deficit was likely to be offset by a slow pace of inventory accumulation.
GM employee at Cole Engineering Center tests positive for coronavirus
General Motors Co said on Tuesday an employee at its Cole Engineering Center in Warren tested positive for coronavirus.
Exclusive: Amazon stops receiving non-essential products from sellers amid coronavirus outbreak
Amazon.com Inc is suspending sellers from sending non-essential products to its U.S. and U.K. warehouses until April 5 in the latest move to free up inventory space for much-needed supplies that are in shortage as a result of the coronavirus outbreak….
McDonald’s considering deferring rent for franchisees amid virus outbreak
McDonald’s Corp is considering rent deferral and other measures to ensure liquidity at its franchisees around the world, amid curbs on dine-in restaurants to contain the spread of the coronavirus, a regulatory filing showed on Tuesday.
VW to start using high-nickel batteries for electric car
Volkswagen will raise the amount of nickel used in it electric car battery cells to 80% in the next year from 65% at present, Frank Blome, head of battery cells at the carmaker said on Tuesday.
StanChart expects record fall in global oil demand in 2020
Standard Chartered on Tuesday said it expects global oil demand to decline by a record amount in 2020 citing the rapidly spreading coronavirus and the travel restrictions imposed to contain it.
Wall Street opens higher after biggest rout since 1987
The main U.S. stock indexes opened higher on Tuesday, a day after their biggest drop since the 1987 crash, as efforts to contain the rapidly spreading coronavirus upended parts of the economy and dampened business sentiment.
U.S. retail sales fall broadly in February
U.S. retail sales fell by the most in more than a year in February and the coronavirus outbreak is expected to depress sales in the months ahead, which could strengthen economists’ expectations of a consumer-led recession by the second quarter.
Global stocks shaky after worst crash since ‘Black Monday’
World share markets and oil prices struggled to shake off their coronavirus fears on Tuesday after Wall Street’s worst rout since the Black Monday crash of 1987.
Senate weighs emergency coronavirus pandemic funds; Trump seeks $850 billion more
The U.S. Senate on Tuesday prepared to weigh a multibillion-dollar emergency spending bill passed by the House of Representatives offering economic relief from the coronavirus pandemic as the Trump administration pressed for $850 billion more.
