Business & Finance News
Oil prices opened about 1% lower on Sunday as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even as some governments began to ease lockdowns.
The Trump administration is in talks with semiconductor companies about building chip factories in the United States, representatives from two chipmakers said on Sunday.
The White House has begun informal talks with Republicans and Democrats in Congress about what to include in another round of coronavirus relief legislation, officials said on Sunday, while predicting further U.S. jobs losses in the coming months.
The European Commission could open a legal case against Germany over a ruling by the country’s constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday.
Germany is working on a “concrete model” to aid Lufthansa, Economy Minister Peter Altmaier said on Sunday, amid a political row over whether the state should take a strategic shareholding and play an active role in the stricken airline.
The White House has started informal talks with Republicans and Democrats in Congress about next steps on coronavirus relief legislation, officials said on Sunday, but they stressed any new federal money would come with conditions.
The European Commission could open a legal case against Germany over a ruling by the country’s constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday.
The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday.
Thyssenkrupp has less time for a wide-ranging restructuring plan than previously thought as the coronavirus pandemic is significantly burdening the already ailing conglomerate, its chief executive said in a note to staff.
Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC’s value following a slump in oil prices in coronavirus pandemic, two sources told Reuters.
U.S. President Donald Trump’s administration is in talks with semiconductor companies about building chip factories in the United States, the Wall Street Journal reported on Sunday.
France and the Netherlands have joined forces to urge the European Union to enforce environmental and labour standards more forcefully with countries the bloc signs trade deals with, according to a document seen by Reuters.
Emirates, one of the world’s biggest long-haul airlines, said on Sunday it will raise debt to help it through the coronavirus pandemic and may have to take tougher measures as it faces the most difficult months in its history.
Emirates, one of the world’s biggest long-haul airlines, will raise debt to help it through the coronavirus pandemic that has shattered global travel demand, warning that a recovery in travel demand was at least 18 months away.
China’s central bank said on Sunday it will step up counter-cyclical adjustments to support the economy and make monetary policy more flexible to fend off financial risks.
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