Asian stock markets made a cautious start on Thursday following two days of rallies, as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus.
Delta Air Lines Inc and Air New Zealand Ltd said they would offer cargo charter services on passenger planes to boost revenue as the U.S. Senate neared a vote on a bill to give its carriers $58 billion in aid, including payroll support.
U.S. crude prices settled higher on Wednesday, bolstered by progress on a massive pending U.S. economic stimulus package, even as government data showed the coronavirus pandemic started undercutting U.S. fuel demand last week.
Fallout from the coronavirus outbreak may finally lift the curse of the safe-haven yen for Japan but policymakers fear fiscal laxity could lead to a currency free-fall eventually, undermining efforts to cushion the economy from the pandemic.
Alberto Mendoza figures he can make it a couple of weeks on unemployment benefits before starting to decide which bills won't get paid. The 26-year-old father of three lost his job training cooks when all the local restaurants started closing their doors and laying off staff.
Britain is continuing talks with the aviation industry about how best to support the sector and reports that the government will not provide financial backing for airlines are misleading, the British Airline Pilots Association (BALPA) said on Wednesday.
As the United States works overtime to screen thousands for the novel coronavirus, a new blood test offers the chance to find out who may have immunity - a potential game changer in the battle to contain infections and get the economy back on track.
Target Corp on Wednesday withdrew its financial outlook and said it would scale back on planned investments to focus on meeting surging demand as Americans stock up on essentials and stay home to slow the spread of the coronavirus outbreak.
"If we don't get the public health right," no Fed monetary policy or Washington fiscal package is going to work, Bernanke added.
Nike Inc shares rose 8% on Wednesday after the sportswear maker's impressive recovery in China sales offered hope that it was prepared to cope with the financial fallout of the coronavirus pandemic in other markets.
President Donald Trump wants America to get back to business by Easter, suggesting some efforts to slow the spread of coronavirus outbreak will no longer be needed by then, but Corporate America is taking its lead from health professionals.
AMC Entertainment Holdings Inc , the world's largest theater operator, has placed its chief executive and all of its corporate employees on furlough to preserve cash during the coronavirus outbreak, a company spokesman said on Wednesday.
Tesla Inc will reopen its New York factory "as soon as humanly possible" to manufacture ventilators for coronavirus patients, Chief Executive Officer Elon Musk said on Twitter on Wednesday.
A group representing major U.S. semiconductor companies on Wednesday said it was working with federal officials to make clear to state and local officials overseeing lockdowns that chip companies are essential businesses that should continue operations.
Amazon.com Inc on Wednesday said it temporarily would not require sellers in its marketplace to repay loans it had made to them, as merchants confront the prospect of declining sales during the coronavirus pandemic.