March 16, 2020 / 4:38 AM / 17 days ago

PRESS DIGEST - Wall Street Journal - March 16

March 16 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

- The U.S. Federal Reserve cut its benchmark interest rate to near zero and unleashed an aggressive set of additional moves aimed at stabilizing markets as the new coronavirus pushed the U.S. economy toward a recession.

- U.S. clothing and mall retailers from Abercrombie & Fitch Co to Nike Inc are closing thousands of stores across the country for two weeks, unprecedented moves to stem the spread of the new coronavirus.

- Saudi Arabia's state-run oil giant Saudi Aramco will cut its spending this year due to the coronavirus pandemic, while it increases its dividend, the company said Sunday, as its share price continued to decline amid the Saudi regime's price war with Russia.

- Inc is making some of the software that underpins its "Go" stores available through an organization called Dent, which has had talks with officials at Walmart Inc and Target Corp.

- Joe Biden and Bernie Sanders laid out divergent plans for responding to the novel coronavirus and sparred over their lengthy records as a global pandemic upends the lives of most Americans.

- U.S. tech giants have joined with the White House in a task force to fight the new coronavirus, as Silicon Valley escalates its efforts to tackle the fast-moving pandemic, according to people familiar with the group.

Compiled by Bengaluru newsroom

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