The U.S. insurance industry is promoting the idea of an insurance plan backed by the federal government that would help businesses that in the future suffer losses from a pandemic, people familiar with the effort told Reuters.
VW and Daimler on Wednesday urged the German government to help boost demand for cars as the coronavirus pandemic hammered first-quarter profits and forced both carmakers to drop their outlooks for the year.
World stock markets rose sharply on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices soared.
Canadian pot producer Canopy Growth Corp said on Wednesday it would lay off 200 employees in North America and the UK, according to an internal announcement seen by Reuters.
Amazon.com Inc has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor the Uighurs and other Muslim minorities, three people familiar with the matter told Reuters.
Volkswagen urged the German government on Wednesday to help boost demand for cars as the coronavirus pandemic triggered a plunge in first-quarter operating profit and the world's biggest automaker warned of a difficult second quarter.
Shares in Wirecard slumped again on Wednesday as a prominent short seller demanded the sacking of CEO Markus Braun after a special audit of the German payments company was unable to verify its financial statements.
The COVID-19 pandemic is forcing the world's biggest advertising company WPP to accelerate its strategy of bringing its multiple agencies together to produce work more quickly for clients battling to cut costs.
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
U.S. stocks surged on Wednesday as expectations of an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
General Electric Co reported a 7.6% drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
U.S. stock index futures rose on Wednesday after Google-parent Alphabet reported upbeat quarterly results, while investors braced for data that could show a sharp contraction in the domestic economy.
General Electric reported a steep decline in first-quarter revenue as the industrial giant took a hit amid the coronavirus pandemic.
Top managers at Nivea-maker Beiersdorf are waiving 20% of their fixed compensation between April and December, Chief Executive Stefan De Loecker said on Wednesday, adding that the level of management below them was also foregoing 5% of its pay.