Business & Finance News
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.
Investors are pinning their hopes for the reopening of the U.S. economy on the potential for wider availability of testing for COVID-19 cases and on drug trials for treatments of the deadly disease but said, until there is concrete progress in these areas, further stock market gains may be limited.
Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps.
European planemaker Airbus issued a bleak assessment of the impact of the coronavirus crisis, telling the company’s 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.
Amazon.com Inc is piloting the use of video conference calls to verify the identity of merchants who wish to sell goods on its websites, in a new plan to counter fraud without in-person meetings in the pandemic, the company said on Sunday.
U.S. oil futures dipped in electronic trading Sunday evening, extending losses from last week that marked the eighth week of losses out of the last nine.
Airbus Chief Executive Guillaume Faury has told the European planemaker’s 135,000 staff to brace for potentially deeper job cuts after warning its survival is at stake without immediate action to save cash amid the coronavirus crisis.
The U.S. government will cap how much each bank can lend under the emergency loan program designed to keep workers on payrolls amid the coronavirus pandemic, according to a memo seen by Reuters hours ahead of the reopening of the lending program.
The U.S. Small Business Administration (SBA) plans to cap how much institutions can lend under the Paycheck Protection Program designed to keep workers on payrolls amid the novel coronavirus, according to a memo seen by Reuters.
Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a $4.2 billion commercial aerospace tie-up amid the coronavirus crisis.
Volkswagen will restart production at its Wolfsburg factory in Germany on Monday, the latest of a fleet of European carmakers to take advantage of eased coronavirus lockdown rules to resume manufacturing.
The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that likely will push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.
Germany’s ruling coalition is divided over whether the state should have a role in running airline Lufthansa in return for a rescue package the company aims to finalise next week, politicians said on Sunday.
White House advisers hope to come up with several options to present to President Donald Trump for “big thoughtful policies” to help rebuild confidence in an economy battered by the coronavirus pandemic, a Trump economic adviser said on Sunday.
The U.S. unemployment rate is likely to hit 16% or higher in April, and “really big thoughtful policies” will be needed to rebuild confidence, a White House adviser said on Sunday.
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