Business & Finance News
Equity markets rallied globally on Tuesday as Chinese trade data defied expectations of a deep downturn as a result of the coronavirus pandemic, igniting hopes that world economies can soon recover and removing the safe-haven allure of the greenback.
Oil prices dropped sharply on Tuesday, with U.S. prices sliding back toward $20 a barrel, as investors bet that fuel demand destruction caused by the coronavirus pandemic would be too much for producers embarking on record global output cuts to offset.
Texas energy regulators listened as top energy executives on Tuesday backed a plan to cut the state’s output by 1 million barrels per day without tipping their hands through more than five hours of sometimes dire testimony.
U.S. stocks jumped on Tuesday as optimism that the Trump administration could move to ease lockdowns from the coronavirus overshadowed worrying earnings reports from JPMorgan and Wells Fargo.
Credit Suisse shareholders should reject its compensation report and deny its leadership a discharge in an upcoming vote, a proxy advisor said, the latest fallout from a spying scandal that cost ex-boss Tidjane Thiam his job.
Mexico’s president has incurred a debt with his U.S. counterpart Donald Trump by accepting U.S. help to end a standoff over global oil cuts, triggering concern the American will in return make the country pay on issues like migration and security.
Japanese automaker Subaru Corp said Tuesday it will extend a shutdown of its Indiana assembly plant through May 8 because of declining market demand and supply chain issues related to the coronavirus outbreak.
A broad rebound in U.S. stocks is leaving behind shares of some supermarkets, household product makers and other staples companies that provided a haven in last month’s coronavirus-fueled selloff.
Delta Air Lines has taken over an order worth roughly $3 billion at list prices for 10 Airbus A350 jets from Latam Airlines Group , the Chilean carrier said.
Wizz Air is making plans to fly jets only two-thirds full to allow more space between passengers, it said on Tuesday, as airlines voiced concerns that anti-coronavirus measures could blight their profitability long after travel restrictions end.
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.
U.S. Federal Reserve officials have begun grappling with the complexities of how to simultaneously reopen the country’s economy and protect against a resurgence of coronavirus infections, goals they’ve argued cannot be successfully separated.
Johnson & Johnson on Tuesday said it expects its medical device business to begin recovering in the fourth quarter as elective medical procedures delayed by the coronavirus pandemic start to resume.
The main things investors wanted to learn from first-quarter results by JPMorgan Chase & Co and Wells Fargo & Co on Tuesday was just how bad the coronavirus recession is going to get and how long it will take to get back to normal.
General Motors Co said on Tuesday the first batch of ventilators needed to treat severely sick coronavirus patients were ready for delivery to the United States government.
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