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Updated: 19 hours 18 min ago

Exclusive: Amazon raises overtime pay for warehouse workers

Sat, 03/21/2020 - 22:36
Amazon.com Inc said on Saturday it is raising overtime pay for associates working in its U.S. warehouses, as the world's largest online retailer tries to meet the rapidly growing demand for online shopping from consumers stuck at home during the coronavirus outbreak.

Major U.S. airlines insist on cash grants from Congress, warn of job impact

Sat, 03/21/2020 - 22:19
The chief executives of 10 U.S. passenger and cargo carriers on Saturday told Congress that unless they get direct cash assistance many will be forced to take "draconian measures" including to furlough workers.

Germany prepares 150 billion euro emergency budget in coronavirus package

Sat, 03/21/2020 - 22:00
Germany is readying an emergency budget worth more than 150 billion euros ($160 billion) to shore up jobs and businesses at risk from the economic impact of the coronavirus outbreak, the finance minister said on Saturday.

RBI extends curbs on PMC Bank for three months

Sat, 03/21/2020 - 21:31
The Reserve Bank of India (RBI) on Saturday extended regulatory restrictions on Punjab and Maharashtra Cooperative (PMC) Bank for another three months until June 22 as it works on a plan for the bank's recovery.

LVMH orders 40 million masks from China for France

Sat, 03/21/2020 - 21:12
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.

Emirates suspends France, Germany, Nigeria and some U.S. flights

Sat, 03/21/2020 - 19:26
Emirates, one of the world's biggest international airlines, is suspending all flights to France, Germany, Nigeria, New York and New Jersey due to the coronavirus outbreak, according to internal emails seen by Reuters.

India to give incentives for drug and medical device production

Sat, 03/21/2020 - 19:22
India will provide incentives worth 137.6 billion rupees ($1.83 billion) under four different schemes to boost production of bulk drugs and medical devices over the next six years, the government said on Saturday.

EU executive moves to formalise suspension of EU budget rules

Sat, 03/21/2020 - 16:53
The European Union executive moved to formalise a deal reached by EU finance ministers on March 5 to suspend EU budget rules that limit borrowing, giving hardest-hit Italy and other governments a free hand to fight the coronavirus.

Panasonic to suspend battery production at Tesla joint venture in Nevada due to coronavirus

Sat, 03/21/2020 - 14:49
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.

China to stimulate private investment, accelerate 'new infrastructure' development

Sat, 03/21/2020 - 13:53
China will cut fees on a large scale to stimulate private-sector investment and also accelerate the development of "new infrastructure" to help spur the economy, Chinese government officials said on Saturday.

Google launches coronavirus website in the United States

Sat, 03/21/2020 - 12:27
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.

UK government plans to buy into airlines - FT

Sat, 03/21/2020 - 12:25
The British government is planning to buy equity stakes in airlines and other companies affected by the coronavirus pandemic, the Financial Times reported https://on.ft.com/2QypHcc on Saturday.

Volkswagen to close factories in Mexico to protect public health

Sat, 03/21/2020 - 12:04
German automaker Volkswagen will temporarily close its factories in Mexico's Puebla and Guanajuato states in a bid to preserve public health, the company's Mexican unit said in a statement on Friday, amid growing worries over the spread of the coronavirus.

Uber suspends taxi booking option in Saudi Arabia

Sat, 03/21/2020 - 12:02
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.

Starbucks closes most U.S., Canada cafes, moves to drive-through

Sat, 03/21/2020 - 11:52
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.

Panic buying, lockdowns may drive world food inflation - FAO, analysts

Sat, 03/21/2020 - 10:49
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.

China steel, copper inventories dip as demand recovers from virus

Sat, 03/21/2020 - 10:12
Steel and copper inventories in China fell this week for the first time in months, exchange and consultancy data showed, as downstream metal consumers severely hit by the coronavirus come closer to restoring normal operations.

U.S. seeks comments on tariff cuts for Chinese imports to aid coronavirus battle

Sat, 03/21/2020 - 09:54
The Trump administration on Friday said it was soliciting public comments on lifting additional tariffs on Chinese imports that could help the United States battle the coronavirus pandemic, showing some flexibility in its trade war against Beijing.

Coronavirus deaths in Italy overtake China as economic damage mounts

Fri, 03/20/2020 - 23:02
The world's richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicentre Europe, with the number of deaths in Italy outstripping those in mainland China, where the virus originated.

Worldwide coronavirus deaths exceed 10,000

Fri, 03/20/2020 - 23:02
More than 252,700 people have been infected by the novel coronavirus across the world and 10,451 have died, with deaths in Italy surpassing the toll in China, where the outbreak began, according to a Reuters tally.

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