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Airbnb Inc is laying off 25% of its workforce, or nearly 1,300 employees, the home rental startup said on Tuesday, as the COVID-19 pandemic brings global travel to a near standstill.

Venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does not expect to emerge, people familiar with the matter said on Tuesday.

Mattel Inc will have a new line of "Baby Yoda" toys ready to hit shelves in time for Christmas, the toymaker said on Tuesday, as it joined rival Hasbro in charting a recovery from the financial damage caused by the coronavirus lockdowns.

Wall Street's main indexes gained on Tuesday as healthcare stocks rallied, oil prices surged and a number of countries and U.S. states eased coronavirus-induced restrictions in an attempt to revive their economies.

Vegetarian burger maker Beyond Meat plans to offer large value packs and discounts to some U.S. retailers this summer, hoping to grab a larger share of the market as prices for beef rise due to COVID-19-related production disruptions.

Video game publisher Electronic Arts Inc forecast full-year adjusted revenue above Wall Street estimates on Tuesday, driven by higher sales in its major franchises like "FIFA" and "Apex Legends" as broader videogame sales rose with people staying at home due to the COVID-19 pandemic.

U.S. airlines are collectively burning more than $10 billion in cash per month and averaging fewer than two dozen passengers per domestic flight, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.

The U.S. economy could start to recover in the second half of the year after what is shaping up to be the worst recession in decades, but growth is likely to be slow and uneven, several top Federal Reserve policymakers indicated on Tuesday.

Mattel Inc will have a new line of "Baby Yoda" toys ready to hit shelves in time for Christmas, the company said on Tuesday, even as it predicted a steep drop in second-quarter sales due to the coronavirus lockdowns.

Spirit AeroSystems Holdings said on Tuesday it has reached an agreement with Boeing Co to deliver 125 737 MAX shipsets to the planemaker in 2020, down from the 216 it had previously announced.

Occidental Petroleum Corp on Tuesday swung to a first quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash.

U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.

Global stocks and crude prices were set to extend gains in Asia on Wednesday on confidence that government steps to restart economies will bring back growth and demand for oil.

U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.

Tyson Foods Inc will resume limited production at its largest U.S. pork plant this week, the company said late on Tuesday.