The U.S. Federal Reserve said on Wednesday it would "temporarily and narrowly" modify the growth restriction on Wells Fargo & Co's asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.
Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation.
Video conferencing company Zoom has been responsive to concerns over its software, the U.S. Department of Homeland Security (DHS) said in a memo recently distributed to top government cybersecurity officials and seen by Reuters.
Luxury group Ferrari will pilot a project to conduct voluntary screening of employees and their families to better fight the novel coronavirus outbreak, the head of holding group Exor , which controls the supercarmaker, said on Wednesday.
Nordstrom Inc has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
Oil prices pulled back Wednesday, with benchmark Brent turning negative as U.S. crude inventories surged the most on record, but the pullback was muted by hopes that a meeting between OPEC and allied producers on Thursday will trigger output cuts.
"There's a curious disconnect between when you speak to the companies, most of which are closed, and what's going on in the market," CNBC's Jim Cramer said Wednesday.
The Fed had imposed the restrictions following the bank's fake account scandal in which it created millions of accounts for customers without their knowledge.
McDonald's Corp posted a steeper-than-expected decline in quarterly comparable store sales and the company pulled its full-year forecast as coronavirus-led lockdowns forced it to shutter stores and stick to delivery or take-out.
World equity markets edged higher and oil prices stabilized on Wednesday on hopes the coronavirus pandemic is peaking and that more government stimulus measures could be on the way.
JetBlue Airways Corp said on Wednesday it is consolidating flights in five U.S. metropolitan areas into just one or two airports and also asking the U.S. Department of Transportation to exempt it from flying at other airports where current demand does not support its service.
The dollar found a footing on Wednesday as investors returned to safe-havens, reversing some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
Colombian businesses on Tuesday called on the government to expand measures to help companies weather coronavirus, after President Ivan Duque extended a nationwide lockdown by two weeks.
Japanese automaker Nissan said on Wednesday its sales in China fell 44.9% from a year earlier to 73,297 units in March, as the coronavirus epidemic continues to hit the world's biggest car market.
Oil bounced back on Wednesday, with U.S. crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.