Bank of America gives dour economic outlook, profit falls
Bank of America Corp reported a 48.5% drop in first-quarter net income on Wednesday, warning that it anticipated a recession because of the novel coronavirus...
U.S. crude stocks jump by a record 19 million barrels as refiners cut back: EIA
U.S. crude oil stockpiles rose by 19 million barrels last week, the biggest one-week increase in history, the U.S. Energy Information Administration said, as refiners...
OPEC+ or minus? Oil supply cut numbers puzzle markets
Days after OPEC+ reached a record deal to cut oil output in an attempt to shore up a market reeling from the coronavirus crisis, their...
Deloitte and EY join rivals in cutting pay during pandemic
Global accounting and consulting firms Deloitte and EY said on Wednesday they were cutting pay for partners at their UK businesses by a fifth to...
Indian airline Vistara defers payments to some suppliers: internal memo
Indian airline Vistara has negotiated a reduction and deferment of payments to some suppliers to conserve cash, the airline’s CEO said in an internal memo,...
Best Buy to furlough 51,000 hourly U.S. store employees
Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5% in the...
Aston Martin extends manufacturing suspensions by a week over coronavirus
Luxury carmaker Aston Martin is extending by a week the manufacturing suspensions in place at its two factories as lockdown measures designed to stop the...
Amazon to close French warehouses until next week after court order
Amazon will close its warehouses in France until at least early next week after a court ordered it to limit deliveries to essential goods such...
Wall St tumbles on gloomy economic data, bank earnings
Wall Street’s main indexes slid 2% on Wednesday, as a record drop in retail sales and dour first-quarter earnings reports lent weight to forecasts for...
IMF, World Bank leaders praise G20 debt relief initiative
International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief agreement that suspends bilateral debt...