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Wells Fargo asks Fed to lift cap on growth to support customers – FT

Wells Fargo & Co has asked the U.S. Federal Reserve to remove an asset cap introduced during its accounts scandal in order to allow it to support businesses and customers hit by the coronavirus economic fallout, the Financial Times reported.

Markets

Panasonic to suspend battery production at Tesla joint venture in Nevada due to coronavirus

Panasonic Corp said on Saturday it will temporarily suspend production at its battery joint venture with U.S. electric carmaker Tesla Inc in Nevada because of the coronavirus outbreak.

Markets

Google launches coronavirus website in the United States

Alphabet Inc's Google said on Saturday it launched a United States-focused website with information about coronavirus guidance and testing, as the country works on slowing the spread of the highly contagious virus.

Markets

Panic buying, lockdowns may drive world food inflation: Analysts

Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said.

Markets

Uber suspends taxi booking option in Saudi Arabia

Uber Technologies has suspended the option to book regular taxi services through its app in Saudi Arabia until further notice, a company statement said on Friday.

Markets

Starbucks closes most US, Canada cafes, moves to drive-through

Starbucks Corp said on Friday it will close most of its company operated cafes across north America for two weeks, limiting its services to drive-throughs, to help stem the spread of the highly contagious coronavirus.

Markets

Negotiations lag on US$1 trillion stimulus for virus-hit US

US lawmakers urgently negotiating a $1 trillion emergency package to salvage an economy ravaged by the coronavirus missed a Republican-imposed deadline to reach an agreement by the end of Friday.

Markets

US banks switch to drive-through, ATMs to guard against COVID-19

Banks across the United States announced plans to close branches this week, switching many to drive-through and ATM operations only, as financial institutions work to keep going despite the coronavirus and widespread closures of schools and businesses.

Markets

US airlines call for payroll protections as aid talks continue

U.S. airlines called on Friday for a government stimulus package to help them weather the coronavirus crisis by providing payroll protections, warning that around 750,000 jobs depend on the airline industry.

Markets

United Airlines slashes international schedule by 95per cent for April

United Airlines Holdings Inc said on Friday it would slash its international schedule by 95per cent for April because of government restrictions prohibiting travel in an effort to curb the spread of the coronavirus.

Markets

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