Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy, saying the ongoing coronavirus pandemic will "weigh heavily" on the near-term outlook and poses "considerable risks" for the medium term.
The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to use its "full range of tools" to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only slam growth in the near term but pose "considerable risks" in the medium term as well.
Chesapeake Energy Corp , the oil and gas exploration and production company that was at the forefront of the past decade's U.S. shale boom, is preparing a potential bankruptcy filing as it grapples with an unprecedented rout in energy prices, people familiar with the matter said on Wednesday.
Amazon.com Inc has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor the Uighurs and other Muslim minorities, three people familiar with the matter told Reuters.
Volkswagen AG and Toyota Motor Corp said Wednesday they will delay restarting U.S. production amid the coronavirus pandemic and concerns about the automotive supply network.
General Electric Co said on Wednesday the coronavirus pandemic dealt a $1 billion blow to cash flow at its industrial business in the first quarter, while total revenue fell almost 8% and the company warned the damage would worsen in the next three months.
Several of Amazon.com Inc's foreign websites have been added to the U.S. trade regulator's "Notorious Markets" report on marketplaces known for counterfeiting and piracy concerns.
World stock markets surged on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices soared.
Hertz Global Holdings Inc said on Wednesday it was in talks with its lenders to avoid defaulting on debt related to its rental vehicle fleet, after skipping a payment that was due April 27.
