Business & Finance News
Oklahoma’s energy regulators on Monday began hearing arguments from producers seeking to win state-support for setting limits on oil production to help stabilize prices.
Starbucks Corp said on Monday it would begin a phased reopening of 150 of its drive-thru locations and some takeaway-only stores in the United Kingdom as the country eases coronavirus-led restrictions on road travel.
Oil prices fell on Monday as investors worried about a second wave of coronavirus infections, but new output cuts from Saudi Arabia tempered worries about oversupply and limited price losses.
Toyota Motor Corp plans to slash production in North America by nearly a third through October due to the coronavirus crisis and expects it will take some time for output to return to normal, a person familiar with the matter said.
The S&P 500 and Dow Jones indexes retreated on Monday after last week’s rally, as investors worried about a second wave of coronavirus infections with the reopening of several economies.
Fritz Gerber, the long-time head of Roche Holding who helped transform the Swiss company from an image-tarnished vitamins, drugs and chemicals conglomerate into a biotechnology and diagnostics giant, has died at the age of 91.
Toyota Motor Corp plans to slash production in North America by nearly a third through October due to the coronavirus crisis and expects it will take some time for output to return to normal, a person familiar with the matter said.
Oil prices were mixed on Monday, supported by Saudi Arabia’s move to reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, but pressured by fears of a second wave of coronavirus infections.
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
A jump in coronavirus cases in South Korea and Germany rattled investors and sent global equities lower on Monday, while safe- haven assets including the dollar and U.S. Treasuries edged higher.
U.S. Treasury Secretary Steven Mnuchin said on Monday he sees no need for the country to buy back debt and that he plans to borrow money long-term to lock in low interest rates, as the coronavirus pandemic rocks the economy.
Hawkish voices have emerged in China seeking a reevaluation of its Phase 1 trade deal with the United States, with some advisers urging fresh talks, a state-controlled tabloid said, citing sources close to the Chinese government.
U.S. hotel operator Marriott missed already lowered estimates for first-quarter profit by a huge margin on Monday, as bookings plunged due to coronavirus-led lockdowns that kept a quarter of its hotels closed.
Toyota Motor Corp plans to slash North American production by nearly a third through October and expects it will take some time for output to return to normal, according to a person familiar with the matter.
U.S. stocks opened lower on Monday after last week’s rally as investors worried about a second wave of coronavirus infections with the reopening of several economies.
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