Bloomberg Wells Fargo & Co. is joining peers in awarding extra payments to employees as the bank deals with the coronavirus pandemic. Payments go to workers who earn base compensation of less than $100,000 and were employed by Wells Fargo for all of 2019, the San Francisco-based lender said in a statement. Eligible full-time employees will get $600 before taxes …

Bloomberg Amazon, Walmart, EBay and other large online sellers were urged by state law enforcement officials to crack down on price gouging that preys on panic over the coronavirus pandemic amid surging complaints by consumers. The attorneys general of New York and California called on the companies to take action as 6,000 complaints have poured in to authorities across the …

Bloomberg Norwegian Air Shuttle ASA, the indebted low-cost carrier fighting for survival, bought itself some time as it managed to unlock the first, tiny slice of its state aid package. The carrier’s shares jumped as much as 25% when trading started in Oslo on Tuesday, though overall the stock is still down about 75% this year. Two Nordic banks will …

Bloomberg Neiman Marcus Group Inc, the luxury retailer that’s been struggling to ease its $4.3 billion debt load, is talking with lenders about filing for bankruptcy, according to people with knowledge of the matter. No formal decisions have been made, but Neiman Marcus has held initial talks with lenders about a potential bankruptcy loan that would keep the company running …

Bloomberg Boeing Co is shutting down its Seattle-area manufacturing hub for two weeks after a worker died of coronavirus complications, adding to a wave of plant closings sweeping the globe as the aviation industry navigates the biggest disruption in decades. Activity at the factories will start winding down and come to a halt on March 25, Boeing said in a …

Bloomberg US airlines are drafting plans for a potential voluntary shutdown of virtually all passenger flights as government agencies also consider ordering a similar move, the Wall Street Journal reports, citing unidentified industry and federal officials. No final decisions have been made by the airlines or White House, but airlines would generally favour a government order, WSJ cites an industry …

Bloomberg Modell’s Sporting Goods halted its going-out-of-business sales as customers shelter at home and states order most merchants to close. The bankrupt retailer stopped liquidation sales and closed all stores as of March 21, CEO Mitchell Modell said. It plans to resume once the bans are lifted, he said. Retailers are pausing store-closing sales as a growing number of states and …

Bloomberg Oil dropped towards the lowest level since 2003 as demand plunged as governments froze economic activity to combat the coronavirus, and prospects for a Opec-Texas production deal faded. Futures in London fell 5.6% to near $25 a barrel as some traders estimate crude demand will collapse by as much as 20 million barrels a day this year. Texas Railroad …

Bloomberg Africa needs an immediate emergency economic stimulus of $100 billion to combat the impact of the coronavirus pandemic and almost half of that could come from waiving interest payments for countries on the continent, according to the United Nations Economic Commission for Africa (ECA). The waiver of interest payments, estimated at $44 billion for 2020, and the possible extension …

Bloomberg The UK economy will contract at least 10% in the first half of the year as the fallout from the coronavirus hammers output, according to Bloomberg Economics’ estimates. In a report released on Monday, senior UK economist Dan Hanson said support provided by the Bank of England and the Treasury should prompt a turnaround in the second half of …