Year: 2020

Oil prices climbed on Wednesday, bouncing back from the previous session’s large losses, as investors looked for bargains and supported by hopes that consuming countries will look to fill their strategic reserves.

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Asian share markets took a breather on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.

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Texas oilman Mike Shellman has kept his MCA Petroleum Corp going for four decades, drilling wells through booms and busts and always selling his crude to U.S. oil refiners.

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Major international creditors will relieve the world’s poorest countries of debt payments this year to help them deal with the coronavirus pandemic that has sparked the steepest downturn in the global economy since the 1930s, France announced on Tuesday.

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An unprecedented deal by oil producers to curb supply to match demand hollowed out by the coronavirus pandemic is set to depend partly on purchases by consumer countries for their strategic stockpiles on a scale not before seen.

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U.S. retail sales likely suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.

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U.S. electric vehicle maker Tesla Inc’s China car registrations jumped 450% in March, month on month, data from auto consultancy LMC Automotive showed.

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Airbnb, whose home rental business is suffering as the coronavirus pandemic freezes global travel, has secured a new $1 billion loan just days after closing a $1 billion debt deal, the company said on Tuesday.

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Asian share markets took a breather on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.

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Airbnb, whose home rental business is suffering as the coronavirus pandemic freezes global travel, has secured a new $1 billion loan just days after closing a $1 billion debt deal, sources told Reuters on Tuesday.

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Standard Chartered Plc is the first major global bank to tell employees not to use Zoom Video Communications Inc during the coronavirus pandemic due to cybersecurity concerns, according to a memo seen by Reuters.

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