 | | | | The Trump administration plans to buy milk and meat from U.S. farmers as part of an initial $15.5 billion effort to help them weather the impact of the coronavirus outbreak, Agriculture Secretary Sonny Perdue said on Wednesday. | | | | | | U.S. government officials warned on Wednesday about the threat of North Korean hackers, calling particular attention to banking and other financial services. | | | | | | U.S. retail sales suffered a record drop in March and output at factories declined by the most since 1946, buttressing analysts' views that the economy contracted in the first quarter at its sharpest pace in decades as extraordinary measures to control the spread of the novel coronavirus shut down the country. | | | | | | A double whammy of economic data showing the U.S. economy in a deep downturn and reports of persistent crude oil oversupply and collapsing demand slammed global markets on Wednesday as vivid reminders of the damage from coronavirus-related lockdowns. | | | | | | U.S. crude prices fell to an 18-year low and Brent lost more than 6% on Wednesday after the United States reported its biggest weekly inventory build on record, while global demand is expected to fall to quarter-century lows due to the coronavirus pandemic. | | | | | | U.S. stocks fell on Wednesday as dismal economic and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak. | | | | | | U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced. | | | | | | J.C. Penney Co Inc said on Wednesday it will not make a $12 million interest payment on its long-term corporate bonds, a day after Reuters reported the department store operator was considering filing for bankruptcy protection. | | | | | | Apple Inc on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company's smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy. | | | | | | Several major U.S. airlines are preparing to apply this week for a $25 billion U.S. government loan program after winning billions in federal payroll grants, people familiar with the matter said. | | | | | | Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as it prepared for losses driven primarily by its credit card business, and analysts raised worries that there is more pain to come as the economic outlook darkens. | | | | | |
