Business & Finance News
Oil prices rose on Monday as signs fuel demand was recovering while OPEC+ members were complying with a production cut deal outweighed fears that new coronavirus infections could further slow the global economy.
BP will write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts, betting the COVID-19 crisis will cast a lasting chill on energy demand and accelerate a shift away from fossil fuels.
Italian Economy Minister Roberto Gualtieri said on Monday the government is closely watching the merger between the London Stock Exchange (LSE) and Refinitiv, and its implications for the Italian bourse owned by LSE.
Britain’s Foreign Secretary Dominic Raab voiced a thinly veiled criticism of HSBC on Monday after the bank backed China’s national security law for Hong Kong, contradicting the British government’s opposition to it.
The U.S. economy will experience a “significant, historic” contraction in the second quarter before it starts to rebound, and unemployment will remain elevated at the end of 2020, Dallas Federal Reserve President Robert Kaplan said on Monday.
The United States will amend its prohibitions on U.S. companies doing business with China’s Huawei [HWT.UL] to allow them to work together in standards setting for next-generation 5G networks, according to people familiar with the matter.
Amazon.com Inc said on Monday its founder and Chief Executive Jeff Bezos is willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies.
U.S. stocks dropped on Monday after a spike in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic recovery that had driven a sharp rise in Wall Street’s main indexes over the past month.
The U.S. will amend its prohibitions on U.S. companies doing business with China’s Huawei to allow them to work together in standards settings for next generation 5G networks, according to people familiar with the matter.
The U.S. Federal Reserve announced Monday it was resuming its normal bank examination activities, after easing back at the outset of the coronavirus pandemic.
Amazon.com Inc Chief Executive Jeff Bezos is willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies, according to a letter from an attorney representing Amazon.
Oil prices fell on Monday as new coronavirus infections hit the United States and China, feeding worries that renewed lockdowns could hamper economic recovery and dent fuel demand.
The world’s biggest asset manager BlackRock has pumped about 16 billion euros ($18 billion) into 810 European companies since the end of January, more than half of them in distress due to the coronavirus pandemic, a source with direct knowledge of the matter told Reuters.
The Federal Reserve on Monday launched its latest life raft for U.S. businesses hurt by the coronavirus pandemic.
Fears of a second wave of COVID-19 infections rocked world markets on Monday, knocking down oil prices and a gauge of global equity performance more than 2% at one point, as investors grappled with how to assess the economic recovery.
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