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.
"It's a tremendous program to keep our business afloat," said one small business owner.
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.
New data shows the government's stimulus checks are providing much-needed relief to Americans struggling with day-to-day living costs.
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.
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.
NCFA | April 15, 2020 Dear: Right Honourable Prime Minister Justin Trudeau Honourable Minister William Morneau Honourable Minister Navdeep Bains Honourable Minister Mary Ng re: Open Letter: Government should collaborate with Fintechs The Canadian government should recognize that FinTech companies can play a central role in distributing capital to small businesses and early-stage companies.
Credit Suisse has lost a bid to block an auditor appointed by Switzerland's financial supervisor as part of its probe into the bank's spying scandal, court documents show, with judges ruling the Swiss bank's objections were unfounded.
British fashion brands Oasis and Warehouse have fallen into administration, threatening over 2,000 jobs and joining a growing list of store groups pushed over the edge by the coronavirus crisis.
Oil prices sank on Wednesday after the United States reported a 19 million-barrel increase in inventories, the biggest weekly build ever, while forecasts showed global demand crumbling to its lowest levels in a quarter of a century due to the coronavirus pandemic.
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.
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.
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.
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.
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.