 | | | | The selloff in U.S. stocks deepened on Wednesday and the Dow was set to erase the last of its gains since U.S. President Donald Trump's 2017 inauguration, as the coronavirus pandemic threatened to bring U.S. economic activity to a halt. | | | | | | The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said. | | | | | | General Motors Co and Mercedes Benz will furlough all employees in Brazil later this month, the companies said on Wednesday, suggesting that production in South America's main auto center will be heavily impacted by the coronavirus outbreak. | | | | | | U.S. regulators are considering giving banks additional regulatory points for lending to mid- to low-income Americans hurt by the coronavirus, as they seek to mitigate the economic impact of the pandemic, an official within a banking agency told Reuters. | | | | | | Borrowing costs in the United States, euro zone, Britain and Japan surged on Wednesday after two days in which governments across the globe announced trillions of dollars of spending to support locked-down economies frozen by the coronavirus. | | | | | | Britain faces a "massive shortage" of ventilators that will be needed to treat critically ill patients suffering from coronavirus, after it failed to invest enough in intensive care equipment, a leading ventilator manufacturer said on Wednesday. | | | | | | Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low, as governments worldwide accelerated lockdowns to counter the coronavirus pandemic that is causing global fuel demand to collapse. | | | | | | Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R] | | | | | | Sharp Corp has filed a patent infringement lawsuit against the Japanese unit of Tesla Inc, seeking an injunction to halt imports of some electric vehicles (EV) to Japan, a source familiar with the matter said on Wednesday. | | | | | | Boeing Co on Tuesday called for a $60 billion lifeline for the struggling U.S. aerospace manufacturing industry, which faces huge losses from the coronavirus pandemic. | | | | | |
