A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
Nissan Motor Co said on Tuesday it will shut its global headquarters in Japan for 16 days through early May to contain the spread of the coronavirus, even though the government has permitted keeping workplaces open to get the economy running.
The coronavirus pandemic brought a six-month experiment in dual leadership at SAP to an abrupt end as the German business software group named Christian Klein as its sole CEO to provide clarity to its 400,000 clients.
The stimulus payout timeline has some seniors and others getting money the week of April 20 and later. Many who didn’t get cash yet continue to worry. …read more […]
Fast Retailing Co , the owner of casual clothing chain Uniqlo, is ready to re-open two stores in Berlin this week, the company said on Tuesday, the first in Europe to reopen its doors since closing over the coronavirus outbreak.
(Bloomberg) — Virgin Australia Holdings Ltd. became Asia’s first airline to fall to the coronavirus after the outbreak deprived the debt-burdened company of almost all income.Administrators at Deloitte, who have taken control of the Brisbane-based carrier, aim to restructure the business and find new owners within months. More than 10 parties have expressed an interest, Deloitte said Tuesday.Virgin Australia joins FlyBe — the U.K.’s biggest domestic airline before it collapsed last month — among the industry’s corporate casualties of the virus. Airlines have been pummeled by domestic and international travel bans that forced them to seek government aid.Alaska’s Biggest Regional …read more […]
(Bloomberg) — U.S. stock index futures dropped after reports that North Korea’s Kim Jong Un underwent a medical procedure.Contracts on the S&P 500 slid as much as 1.2%, before paring their loss to 0.6% as of 12:22 p.m. in Tokyo. Futures dropped 0.5% on the Nasdaq 100 Index and 0.7% on the Dow Jones Industrial Average.The U.S. has information that Kim was in a critical situation after cardiovascular surgery last week, an official said. South Korean media reports suggested that Kim was recovering.North Korean “succession risk is causing global equity markets to buckle,” Stephen Innes, chief global market strategist at …read more […]
Starbucks Corp said on Monday it would roll out a new plant-based lunch menu in China this week, launching Beyond Meat Inc’s products in a country where it is trying to recover from the novel coronavirus pandemic-led shutdown.
(Bloomberg) — Asian stocks retreated, with South Korean shares underperforming, and the dollar climbed after news that the U.S. is monitoring information surrounding the health of North Korea’s dictator.Equities declined across Asia-Pacific markets, with 2% or more losses in South Korea and Hong Kong. Shanghai and Tokyo benchmarks were down about 1%. U.S. futures surrendered gains and were down more than 1% at one point. While the yen traded flat, the dollar climbed against most major currencies. Treasuries were little changed.The U.S. has information that North Korea’s Kim Jong Un is in critical condition, Bloomberg reported, while CNN said America …read more […]
The contract for West Texas intermediate crude, or WTI, is the benchmark for U.S. crude oil prices. WHAT DOES A NEGATIVE FUTURES PRICE MEAN? Because of oversupply, storage tanks for WTI are becoming so full it is difficult to find space. …read more […]
Krishna said the shift to remote work is accelerating the move towards cloud services offered by IBM. The company’s hybrid cloud offers combined management of on-premises and remote computers for clients. Executives said most IBM customers were relatively well positioned for the pandemic and the company would continue to pay dividends. …read more […]
U.S. crude oil bounced back into positive territory on Tuesday, after a historic plunge below zero that shocked investors and pushed down stock prices and Asian currencies.
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