Gap Inc on Thursday withdrew its full-year forecast issued just two weeks ago, suspended its dividend and said it will draw down on its entire US$500 million credit facility as the apparel retailer looks to weather the coronavirus crisis.
General Motors Co said Thursday it will extend a shutdown of its North American plants beyond March 30, but added it does not know when it will restart operations.
The U.S. Federal Reserve's balance sheet rocketed past US$5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus...
Morgan Stanley pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic.
Home healthcare providers, the lifelines to 12 million vulnerable Americans, are scrambling to decide how to serve patients who show symptoms of coronavirus - and how to ensure that the providers themselves neither catch nor spread it.
Ross Stores Inc said in a letter to vendors on Thursday it would cancel all merchandise purchase orders through June 18 due to the impact the coronavirus has had on its business.
Two weeks. Maybe a month.
SINGAPORE: Singapore Airlines (SIA) is tapping existing investors for up to S$15 billion (US$10.48 billion) through the sale of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak. The fund raising is being underwritten by the airline's biggest investor ...
Daimler is in talks with lenders for a credit facility of at least 10 billion euros (US$11.03 billion) to help the car company cope with the coronavirus outbreak, Bloomberg reported on Thursday.
Cirque du Soleil Entertainment Group is exploring debt restructuring options that include a potential bankruptcy filing, after it was forced to cancel shows because of the coronavirus outbreak, people familiar with the matter said.
