WASHINGTON -- The U.S. Federal Reserve on Wednesday temporarily eased its leverage requirements for large banks so as to encourage lending to households and businesses amid coronavirus uncertainty.

"To ease strains in the Treasury market resulting from the coronavirus and increase banking organizations' ability to provide credit to households and businesses, the Federal Reserve Board on Wednesday announced a temporary change to its supplementary leverage ratio rule," the Fed said in a statement. (US-Fed)

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TOKYO -- Tokyo stocks closed lower Thursday as sentiment was dashed by rising concerns that Japan's healthcare system could buckle if spikes in COVID-19 infections continue in urban areas and the pandemic will continue to take a toll on domestic firms' investment, output and overall demand.

The 225-issue Nikkei Stock Average lost 246.69 points, or 1.37 percent, from Wednesday to close the day at 17,818.72. (Japan-Tokyo-Stocks-Nikkei-Topix-Closing)

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FRANKFURT -- German department store giant Galeria Karstadt Kaufhof has filed for creditor protection as it has failed so far to obtain government bailout funds for companies hit by the coronavirus crisis, the company said on Wednesday.

The protective shield proceedings that the company filed for, according to the German insolvency law, is a three-month phase of creditor protection that enables potentially illiquid company to restructure itself without having to file for bankruptcy. The management remains in control during the procedure. (Germany-Retail-COVID-19)

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PARIS -- Car sales in France shrank by 72.2 percent in March year-on-year as the coronavirus crisis prompted a nationwide lockdown, forcing people to stay ar home, the Committee of French Automobile Manufacturers (CCFA) said on Wednesday.

Auto manufacturers provided French market with 62,668 vehicles in March from 225,818 sold in the same month in 2019, the federation said in its monthly report. (France-Automobile) Enditem

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