A federal judge said Tesla Inc and Chief Executive Elon Musk must face a lawsuit claiming they misled shareholders when Musk tweeted that he had secured funding to take his electric car company private in a $72 billion transaction.
Costco Wholesale Corp said on Wednesday it would raise its quarterly dividend by 7.7% to 70 cents per share, at a time when several major companies have suspended cash returns to shareholders to shore up liquidity.
The top U.S. retail banks said on Wednesday they would provide relief to customers who had overdrawn checking accounts, so that they could reap the full benefits of the federal government's cash stimulus program.
Several major U.S. airlines are preparing to apply this week for a $25 billion U.S. government loan program after winning billions in federal payroll grants, people familiar with the matter said, as the industry braces for a slow recovery from the coronavirus pandemic.
Smithfield Foods Inc, the world's largest pork processor, said on Wednesday it would shutter two U.S. plants that process bacon and ham, after closing a separate hog slaughterhouse because of an outbreak of the coronavirus among employees.
Airbus SE is delaying its planned Canadian production ramp-up of its A220 jet by a year, a company spokeswoman said on Wednesday, as the coronavirus outbreak weighs on broader airline demand for aircraft.
Ryanair is steeling for an airline price war that it expects to win once coronavirus restrictions are lifted and passengers flock back to tourist destinations, Chief Executive Michael O'Leary told Reuters on Wednesday.
Oil prices were mixed on Wednesday after the United States reported a 19 million-barrel jump in inventories, the biggest weekly build ever, while forecasts showed global demand crumbling to its lowest levels in a quarter-century due to the coronavirus pandemic.
Volkswagen on Wednesday said factories producing cars for its core brand in Zwickau, Germany and Bratislava, Slovakia will resume production starting on April 20, with other locations ramping up plants starting from April 27 onwards.
U.S. air travel was shut down for three days after the Sept. 11, 2001, attacks. It took three years for the industry to recover despite toughened passenger screening and the creation of a new agency devoted to transportation security.
"It's a tremendous program to keep our business afloat," said one small business owner.
U.S. companies have been battered by the fallout from the novel coronavirus outbreak as economic activity "contracted sharply and abruptly across all regions," a report by the Federal Reserve released on Wednesday showed.
Amazon's moves to reduce strain on its grocery businesses by putting new online shoppers on wait lists and switching more Whole Foods resources to filling orders, is unmasking limitations at the company that was expected to upend the supermarket industry.
Numerous major U.S. airlines are preparing to apply this week for a $25 billion U.S. government loan program after winning billions in federal payroll grants, people familiar with the matter said.
Harley-Davidson Inc said on Wednesday it had temporarily laid off most of its global production employees and implemented salary cuts in a bid to lower costs as the coronavirus pandemic has hurt its business.