Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world’s economies.
Asian stock markets rose on Thursday as the combination of a rebound in crude prices from historic lows and the promise of more U.S. government aid to cushion the coronavirus-ravaged economy helped calm nervous markets.
The dollar pushed ahead against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.
Nissan Motor Co , Renault SA and Mitsubishi Motors Corp will draft plans for a deeper alliance next month, including joint development of more electric vehicles (EVs) and self-driving technology, the Yomiuri daily reported.
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
Delta Air Lines Inc on Wednesday said it intended to raise $3 billion in debt by offering senior secured notes and entering into a new credit facility, in a bid to combat the slowdown in air travel demand induced by the coronavirus crisis.
Asian equity markets were poised to edge higher on Thursday after rebounding crude prices and the promise of more U.S. government aid to ease the economic pain inflicted by the coronavirus crisis helped calm global equity markets.
German’s Daimler AG said on Thursday it expected to report a near 70% plunge in a key first-quarter earnings figure, as demand for its Mercedes-Benz cars plunges amid the coronavirus pandemic.
Las Vegas Sands Corp on Wednesday posted a first-quarter loss as the coronavirus kept consumers at bay, but the casino operator struck an optimistic note as pent-up demand for gambling pointed to a speedy recovery in Asia.
Marathon Petroleum Corp , the largest U.S. oil refiner, warned on Wednesday of a first-quarter loss on a roughly $7.8 billion write-down from a sharp fall in fuel demand.
Trump said he’d be halting immigration to help American jobs amid coronavirus, but an economist says there is no economic evidence to support this. …read more […]
U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that companies that received coronavirus rescue money intended for small businesses could be investigated if it appears they did not really need the money.
U.S. pipeline operator Kinder Morgan Inc on Wednesday reported a smaller-than-expected quarterly profit and cut its adjusted core earnings forecast for the year, following a coronavirus-induced decline in fuel demand and a crash in crude prices.
German luxury carmaker Daimler AG on Wednesday reported preliminary first-quarter earnings before interest and tax that slumped 78% to 617 million euros, following disruptions caused by the coronavirus pandemic.
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