Easing bank rules is among the "bold and extraordinary" steps needed to beat the coronavirus, but it must be temporary and limited to avoid undermining financial stability after the epidemic has passed, central bankers said on Wednesday.
Oil fell 4% towards $28 a barrel on Wednesday, pressured by reports of persistent oversupply and collapsing demand due to global coronavirus-related lockdowns and a lack of coordinated oil purchases for strategic storage.
Amazon said on Wednesday it may temporarily close its warehouses in France after a court ordered the e-commerce giant to limit deliveries in the country to essential goods like food and medical supplies.
Goldman Sachs Group Inc reported a 49% fall in quarterly profit on Wednesday, as the bank put aside nearly $1 billion to meet future loan defaults and booked heavy losses on its debt and equity investments.
Honda Motor Co said it has remodeled 50 of its minivans to transport COVID-19 patients to hospitals and quarantine facilities in Japan, sealing off the rear section of the vehicles to keep drivers safe from infection.
Bank of America Corp recorded a 48.5% fall in quarterly profit on Wednesday, as it set aside $3.6 billion in provisions to cover for potential lossses tied to the coronavirus pandemic.
Federated Hermes has written an open letter to company executives and chairpersons setting out how COVID 19 has changed its engagement priorities and how the pandemic should change global businesses for the better.
Ukraine, one of world's top grain exporters, is ready to ban wheat exports if sales exceed limits agreed with traders, the deputy economy minister in charge of agriculture told Reuters on Wednesday.
Brazilian airline Azul SA has hired restructuring firm Galeazzi & Associados to renegotiate its financial and suppliers' debt, Brazilian newspaper O Estado de S. Paulo reported on Wednesday.
Argentina is braced for the first case of coronavirus to be confirmed among the thousands of port workers and grains handlers involved in the country's key agricultural export sector, local industry officials said.
The Wall Street bank benefited from greater turmoil and activity in markets in the quarter.
British fashion brand Barbour has turned over its production line to making protective gowns for frontline healthcare workers battling the coronavirus outbreak, reviving memories of its patriotic efforts in both world wars.
Global accounting and consulting company Deloitte said partners at its UK arm would have their pay cut by a fifth this year to protect jobs during the pandemic.
U.S. retail sales suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.
Citigroup reported a sharp drop in its first-quarter profit as the bank built its loan-loss reserves by $4.9 billion.