Major international creditors will relieve the world's poorest countries of debt payments this year to help them deal with the coronavirus pandemic that has sparked the steepest downturn in the global economy since the 1930s, France announced on Tuesday.
Global share markets dipped into the red on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage done during the coronavirus panemdic even as some countries try to re-open for business.
Oil fell 5% to around $28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns.
U.S. retail sales likely suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.
U.S. electric vehicle maker Tesla Inc's China car registrations jumped 450% in March, month on month, data from auto consultancy LMC Automotive showed.
Oil prices climbed on Wednesday, bouncing back from the previous session's large losses, as investors looked for bargains and supported by hopes that consuming countries will look to fill their strategic reserves.
Toyota Motor Corp on Wednesday said it will cut production of finished vehicles by 40 percent in Japan in May as demand shrinks around the world because of the coronavirus pandemic.
Proxy advisory ISS has backed Credit Suisse's proposals for its annual general meeting on April 30, recommending shareholders vote in favour of the group's pay proposals and approving the performance of its leadership.
As companies deal with declining cash flow amid the coronavirus pandemic, they are likely to cut or even suspend dividends.
U.S. stock index futures retreated on Wednesday as another batch of dismal first-quarter earnings reports and a slide in oil prices lent credence to forecasts for the biggest economic slump since the 1930s.
Charles Calvin was waiting for his $1,700 government stimulus check. What he saw on his bank balance made him do a double take.
Toshiba Corp on Wednesday said it will temporarily close factories and offices in Japan from May 6 to May 15, allowing as many as 76,000 to stay at home as the coronavirus spreads, Kyodo newswire reported.
Goldman Sachs Group Inc reported a 49% drop in quarterly profit on Wednesday, as it set aside significantly higher provisions related to corporate loans due to the impact of COVID-19 and booked heavy losses on its debt and equity investments.
Uber Technologies Inc on Wednesday said customers in New York City and the Miami area could now order restaurant meal deliveries over the phone, instead of through its app, as it aims to expand its service to older Americans.
Working from home can be a pain or a pleasure. These WFH tips from experienced entrepreneurs can give you a new lease on work.