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Best Buy withdraws fiscal 2021 financial guidance

Best Buy Co Inc said on Saturday that the company withdrew all financial guidance for fiscal 2021, for both the first quarter and full year, due to increased uncertainty related to the potential impacts of the coronavirus.

Markets

LVMH orders 40 million masks from China for France

LVMH, the world's biggest luxury goods group, is ordering 40 million health masks from a Chinese supplier to help France cope with the coronavirus outbreak.

Markets

COVID-19: Army joins the production line as ventilator makers scramble to meet demand in Italy

On March 6, Gianluca Preziosa, the head of an Italian ventilator maker, received an urgent request. The Italian authorities wanted his help for an all-out effort to meet a desperate need for ventilators.

Markets

Volkswagen to shut some factories for more than two weeks: CEO

REUTERS: German carmaker Volkswagen AG said on Saturday its factories will be closing for two weeks and in some regions three, amid growing concerns over the spread of the coronavirus. "Most of our factories are closing for two weeks, in some regions for three. The spreading of the virus...

Markets

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.

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