Macy's Inc will be removed from the benchmark S&P 500 stock index , the S&P Dow Jones Indices said on Tuesday, as coronavirus-induced store closures compound the retail sector's struggles with a shift to online shopping.
An independent group of workers at Whole Foods Market called on colleagues to phone in sick to the grocer's stores on Tuesday to protest what they say is a lack of adequate compensation and protections from the coronavirus.
Caterpillar Inc on Tuesday said it will not hand out annual salary increases this year as part of cost cut plan to deal with the coronavirus economic fallout.
Citigroup Inc said on Tuesday it would postpone its 2020 investor day that was scheduled to take place on May 13 due to the coronavirus pandemic.
JetBlue Airways Corp plans to reduce daily flights in and out of the four New York City-area airports where it operates by as much as 80% in April as part of wider schedule cuts due to the coronavirus outbreak, a spokesman said.
Britain's top banks said on Tuesday they would suspend dividend payments after pressure from the regulator, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus.
The U.S. Department of Energy plans to announce as soon as Wednesday it will allow oil companies to lease space in the Strategic Petroleum Reserve (SPR), as it tries to comply with President Trump's directive to fill the facility to capacity, two industry sources said.
Asian shares faced another leg lower on Wednesday as the coronavirus sharply slows global growth, leading a gauge of world stocks to post its biggest quarterly decline in more than a decade and oil prices to trade near lows last seen in 2002.
The Trump administration plans to lease out space for energy companies to store oil in the nation's Strategic Petroleum Reserve, after a previous effort to buy millions of barrels for the emergency stockpile was canceled over a lack of funding, according to two people briefed on the matter.
Risk currencies looked fragile and the yen firmed on Wednesday, the first day of a quarter that looks set to see the worst economic contractions for decades in many countries as they scramble to tackle the coronavirus epidemic.
Crude oil benchmarks opened the month mixed on Wednesday, following their biggest-ever quarterly and monthly losses, overshadowed by fears of global oversupply as data showed a bigger-than-expected rise in inventories in the United States.
Bond investor and DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday he believes the coronavirus sell-off is not over yet and that the lows stocks hit in March will be surpassed in April due to uncertainty over the outbreak.
Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears.
Asian stocks clung to gains on Wednesday, helped by a bounce in Australian shares, but risks for equities remain large as the coronavirus pandemic rattles the underpinnings of the global economy.
American Express Co will avoid job cuts in 2020 as the credit card issuer "rides out the storm" brought on by the coronavirus pandemic, Chief Executive Officer Steve Squeri said in a video message to employees on LinkedIn.