Amtrak says bookings plunge, is set to lose several hundred million dollars on coronavirus fears
U.S. passenger railroad Amtrak said on Wednesday that bookings had plunged 50% since the coronavirus outbreak and that it now expected significant service reductions and losses of hundreds of millions of dollars.
California, other states end opposition to T-Mobile, Sprint merger
California and other states which had fought a merger of Sprint Corp and T-Mobile US Inc over concerns about higher prices for consumers and less innovation have agreed to end their opposition to the deal in a settlement with the companies.
S&P 500 falls 20% from record high, crossing bear market threshold
The S&P 500 on Wednesday fell 20% below its Feb. 19 intraday record high, crossing the threshold into a bear market after the World Health Organization classified the coronavirus outbreak as a pandemic.
Oil slumps as stock markets sink, while Saudi, UAE plan to boost capacity
Oil prices fell 4% on Wednesday, sinking into the close of trading with renewed weakness in the stock market after the World Health Organization said the global coronavirus outbreak is now a pandemic, and as major oil producers announced plans to escal…
Boeing to freeze hiring, overtime due to 737 MAX, virus impacts
Boeing Co is freezing new hiring and overtime except in certain critical areas in efforts to preserve cash due to the coronavirus outbreaks and the 737 MAX grounding, people familiar the matter said on Wednesday.
Saudi, UAE gear up for long-term oil market fight with capacity plans
Top oil exporter Saudi Arabia said on Wednesday it would launch a program to boost production capacity for the first time in more than a decade, signaling to Russia and other rivals it was ready for a long battle over production levels and market share…
Coronavirus shifts U.S. recession debate from ‘if’ to ‘what shape’?
Until recently, economists were debating what it would take for the U.S. economy to fall into a recession. But after taking a cue from markets, the conversation for some economists has shifted from whether there will be a sharp downturn, to figuring ou…
U.S. government posts $235 billion budget deficit in February
The U.S. government recorded a $235 billion budget deficit in February, the Treasury Department said on Wednesday.
Coronavirus leads Warren Buffett to mull changes to Berkshire Hathaway shareholder weekend: Omaha mayor
Warren Buffett plans to wait until around April 1 to decide whether the coronavirus pandemic will require changes to Berkshire Hathaway Inc’s annual shareholder weekend a month later, Omaha, Nebraska’s mayor Jean Stothert said.
Delta Air extends suspension of U.S.-China flights through May 31
Delta Air Lines Inc said on Wednesday it was extending the suspension of all flights between the United States and China from April 30 to May 31 due to the coronavirus outbreak.
