Britain has told airlines that state investment to help them survive the coronavirus crisis will only be considered once they have looked at the possibility of raising capital from existing investors, a person familiar with the situation said.
Streaming service Netflix Inc and social media giant Facebook Inc said on Tuesday they would reduce the amount of data their services use to ease congested telecoms networks in India, where millions are using home internet amid a lockdown to contain the coronavirus outbreak.
Wall Street bounced from three-year lows on Tuesday on hopes of a major fiscal stimulus to blunt the economic damage from the coronavirus pandemic, while Boeing surged on signs that its grounded jet could fly by the middle of the year.
Netflix Inc said on Tuesday it would reduce traffic over telecom networks in India by 25% over the next 30 days to ease data congestion as millions stay indoors because of the coronavirus pandemic.
General Motors on Tuesday suspended its 2020 outlook and said it plans to draw down about $16 billion from its credit facilities in a bid to beef up liquidity amid rising business impact from the fast-spreading coronavirus outbreak.
Boeing Chief Executive Dave Calhoun said Tuesday the company still expects a "mid-year" return to service for the grounded 737 MAX and said the company needs to know credit markets remain open to the aerospace manufacturing sector.
Occidental Petroleum Corp on Tuesday named its former chief executive officer, Stephen Chazen, as non-executive chairman of its board in a bid to end a long and bitter fight with activist investor Carl Icahn.
Citadel, the Chicago-based hedge fund giant led by billionaire Ken Griffin, has so far weathered the coronavirus market storm well, turning a slight profit in its flagship Wellington hedge fund for the year through Monday, according to a person familiar with the situation.
Women are still making less than men — and may be particularly harder hit during the coronavirus pandemic, according to PayScale's 2020 State of the Gender Pay Gap report.
Consumer goods giant Unilever Plc said on Tuesday it would protect its workforce from the financial impact of the coronavirus by continuing to pay contractors and other part time staff for up to three months.
U.S. stock index futures jumped 5% to their daily upper trading limit on Tuesday, rebounding from a brutal coronavirus-driven selloff on signs that Washington was nearing a deal on a $2 trillion economic rescue package.
Spirit Aerosystems , Boeing's largest supplier, is temporarily suspending production of parts for the airline at many of its facilities across the United States, the company said on Tuesday, as the global coronavirus pandemic saps demand across the industry.
Energy companies are facing declining returns as oil prices fall, but Chevron CEO Michael Wirth said the company has no plans to slash its dividend.
Japan Airlines said on Tuesday it will cut flights on international routes from the country by about 64% between March 29 and April 30, as the coronavirus pandemic has hammers travel demand.
The grounding of virtually all flights by Europe's largest budget airline and European air traffic data on Tuesday highlighted the enormity of the shock to aviation industries from the coronavirus now emptying skies around the globe.