SoftBank Group Corp is backing away from part of its planned bailout of WeWork, due to several regulatory investigations of the office sharing company, the Wall Street Journal reported https://www.wsj.com/articles/softbank-backs-away-from-part-of-planned-wework-bailout-11584479235?mod=searchresults&page=1&pos=2 on Tuesday, citing people familiar with the matter.
U.S. package delivery company FedEx Corp suspended its 2020 profit outlook on Tuesday, citing the "significant impact" of coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic.
SoftBank Group Corp is considering pulling out of a $3 billion bid to buy additional shares in WeWork, because it feels the office-space sharing firm has not met the conditions for the deal, people familiar with the matter said on Tuesday.
Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
The S&P 500 rose 6% on Tuesday, recouping half of the previous session's historic sell-off, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The World Bank on Tuesday said it had increased to $14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding $2 billion to an initial package announced on March 3.
Some of the hottest stocks of the last couple years have been the hardest hit in recent weeks.
Boeing Co is seeking "tens of billions of dollars" in U.S. government loan-guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed on the matter told Reuters.
Credit Suisse sharply lowered its forecast for Mexico's economic performance this year and now expects a 4.0% contraction, according to a note sent to the bank's clients on Tuesday, adding to a series of downgrades since the coronavirus spread.
Impossible Foods is discussing a new credit line worth several hundred million dollars with its lenders, as the plant-based meat company braces for the economic fallout of the coronavirus outbreak, people familiar with the matter said on Tuesday.
FedEx Corp suspended its 2020 profit outlook on Tuesday, citing uncertainty due to the coronavirus pandemic.
A U.S. banking regulator proposed a set of standards Tuesday for how it would consider special charters to allow non-banks to accept deposits and engage in other limited banking activities.
Uber Technologies Inc and Lyft Inc Tuesday began suspending shared rides on their ride-hailing platforms in the United States and Canada to limit the spread of the coronavirus.
The Bank of England and Britain's finance ministry launched a scheme on Tuesday to purchase debt known as commercial paper issued by companies hit by the coronavirus.
Most companies in Britain don't have insurance cover for closures caused by the coronavirus outbreak, the Association of British Insurers said on Tuesday.