Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of coronavirus will drop 80per cent or more, analysts said on Wednesday.
The US$2 trillion economic rescue package before the U.S. Senate on Wednesday would send the federal government to the auto industry's rescue for the second time in a dozen years.
More U.S. companies are rushing to adopt so-called poison pills, dusting off a nearly 40-year-old takeover defense tool to ward off hostile bidders and activist shareholders eager to exploit the coronavirus-induced market sell-off.
Investment banks are dusting off models from the 2008 financial crisis to gauge the right time to buy back into stock markets that have plunged 30per cent from their February record highs because of the coronvirus crisis.
SoftBank Group Corp on Wednesday hit out at credit ratings agency Moody's after it downgraded the tech conglomerate by two notches to Ba3 and took the unusual step of asking for the ratings to be withdrawn.
A handful of large British companies had emerged on Wednesday as likely candidates for the government's emergency lending scheme aimed at helping them tide over the coronavirus shutdowns afflicting many of the world's biggest economies.
European Central Bank President Christine Lagarde has a concrete reason for putting pressure on euro zone governments to finance the fight against coronavirus with joint debt - avoiding trouble with the courts.
Volkswagen expects to resume car production in Germany in the summer after the auto maker was forced to suspend output due to the coronavirus pandemic, an executive told a newspaper on Wednesday.
EssilorLuxottica said on Wednesday Essilor had been subject of a cyberattack on March 21 which disrupted access to some of its group servers and computers.
