World Bank adds $2 billion to funds available for coronavirus response

The World Bank on Tuesday said it had increased to $14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding $2 billion to an initial package announced on March 3.

Brent crude sinks below $30/bbl as recession fears weigh

Crude oil prices settled below $30 a barrel as the coronavirus pandemic slowed economic growth and oil demand on Tuesday while Saudi Arabia and Russia kept up their battle for market share.

Investors give thumbs down to potential shortened stock session

U.S. Treasury Secretary Steven Mnuchin's suggestion on Tuesday that the country's stock exchanges might shorten their trading hours did not go over well with investors reeling from Wall Street's worst day in three decades and growing fears about the coronavirus.

Macy's, Hudson's Bay to temporarily close U.S. stores due to virus outbreak

Department store operators Macy's Inc and Hudson's Bay decided on Tuesday to temporarily close all its stores in the United States due to the coronavirus pandemic, but said their e-commerce sites would continue to operate.

Norwegian Air asks for similar help to regional rival SAS

Struggling Norwegian Air needs government support similar to that which SAS received from the Danish and Swedish governments if it is to protect jobs in Norway as demand is strangled by the coronavirus outbreak.

U.S. airlines face push-back in Congress on $50 billion bailout proposal

Some Democrats in Congress are pushing back on aspects of a proposal by major airlines seeking $50 billion in grants and loans in the face of the massive travel slowdown as a result of the coronavirus pandemic.

CFTC provides work-from-home relief for brokers, other market players

The U.S. Commodity Futures Trading Commission on Tuesday said it has issued temporary, targeted relief to futures commissions merchants, brokers, swap dealers, and other market players in response to the coronavirus pandemic.

Tiffany & Co to temporarily shut several stores, cuts hours at others

Luxury jeweler Tiffany & Co said on Tuesday it would temporarily close several stores, including its Fifth Avenue flagship store in New York, and reduce working hours at other outlets, in an effort to contain the spread of the novel coronavirus.

Exclusive: Amazon warehouses receive only vital supplies in U.S., Europe amid coronavirus

Amazon.com Inc will only receive vital supplies at its U.S. and UK and other European warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.

Coronavirus-stricken airlines call for state aid to avert ruin

Airlines demanded urgent tax relief to avoid multiple bankruptcies as coronavirus disruption continued its spread across the global industry on Tuesday.

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