The forced closure of businesses across the United States and surge in unemployment due to the coronavirus pandemic will force U.S. growth to contract by 30per cent in the second quarter and 5per cent overall in 2020, Pacific Investment Management Co (PIMCO) wrote on Wednesday.
The U.S Justice Department on Wednesday recommended U.S. regulators approve Alphabet Inc's request to use part of an U.S.-Asia undersea telecommunications cable.
U.S. investment bank Centerview has hired Lazard's former France boss, Matthieu Pigasse, to lead its newly-launched Paris office and win business from European companies grappling with the economic damage caused by the coronavirus outbreak.
Norwegian Air plans to convert up to US$4.3 billion of its debt into equity and to issue new shares as it seeks to stay in business following the COVID-19 outbreak that has grounded almost all of its fleet, the budget carrier said on Wednesday.
The U.S. Federal Reserve said on Wednesday it would "temporarily and narrowly" modify the growth restriction on Wells Fargo & Co's asset cap so the bank can make more loans under government assistance programs for small businesses hurt by the coronavirus disruption.
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Nordstrom Inc has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only provide diesel, according to five people familiar with the situation.
SINGAPORE: Embattled Hyflux said on Wednesday (Apr 8) that it has applied to the Singapore High Court to postpone its scheme meetings scheduled this month, due to the heightened safe distancing measures put in place by local authorities to combat COVID-19. It is also seeking a three-month ...
JetBlue Airways Corp said on Wednesday it is consolidating flights in five U.S. metropolitan areas into just one or two airports and also asking the U.S. Department of Transportation to exempt it from flying at other airports where current demand does not support its service.
