Leading U.S. airlines American and Delta suspended 2020 financial forecasts on Tuesday and took drastic further measures to combat the impact of the coronavirus, while United announced a capital raising and said it would post a first-quarter loss.
Airlines around the world sank deeper into crisis on Tuesday as the worsening coronavirus epidemic and Italy's lockdown hammered passenger numbers, forced the cancellation of thousands of flights and led to the delaying of plane orders.
Fidelity Investments named company veteran Maggie Serravalli as chief financial officer, replacing Gerard McGraw, according to a note viewed by Reuters.
Morgan Stanley confirmed on Tuesday that an employee at the bank's campus in Purchase, New York, has tested positive for coronavirus, according to a bank memo obtained by Reuters that was verified by the bank.
A senior Democratic senator on Tuesday raised concerns that a federal regulator probing allegations that Fifth Third Bancorp employees created phony accounts may be conflicted because one of its staffers previously worked at the bank.
A senior U.S. senator on Tuesday accused U.S. firms of willfully ignoring "horrific" forced labor conditions in China's Xinjiang region and called on the Commerce Department to stop American companies and consumers buying goods produced by such labor.
Banks and other large financial companies in major cities across the world ramped up their emergency measures to combat the spread of the coronavirus on Tuesday, with Barclays Plc and BlackRock Inc confirming one case in their New York offices.
Two U.S. lawmakers expressed serious concern on Tuesday about the effect of a planned merger of college textbook publishers Cengage Learning Holdings II and McGraw-Hill Education Inc, saying the deal would create a new industry leader with nearly half the market.
Bank of America Corp's chief technology officer, Howard Boville, has left the company, according to a source familiar with the matter.
A day after Wall Street suffered its worst one-day drop since the financial crisis, investors are faced with an unfamiliar dilemma: bet that stocks will bounce back from the cusp of a bear market, or avoid scooping them up for now over fears they are far from a bottom.
Corporate America is gearing up for leaner times.
"One of the things that really made things better today is this was a recognition that things have to be done. That was very reassuring," CNBC's Jim Cramer said Tuesday.
Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington's stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Mexico and other nations are seeking to mediate between Russia and Saudi Arabia to end a price war that has battered world markets, Mexico's finance minister said on Tuesday, citing his country's prior experience in calming a crude producer feud.
United Airlines Holdings Inc said on Tuesday it has raised an extra $2 billion in financing while slashing its 2020 capital expenditures by more than a third in an effort to prepare for a prolonged slump in travel demand due to COVID-19.