Business & Finance News
Republicans in the U.S. Senate and the Trump administration on Tuesday warned that a key program to help small businesses survive the coronavirus pandemic was running out of money, pressuring Democrats to agree on an emergency infusion of aid.
Oil prices fell around 6% on Tuesday as investors doubted that record OPEC+ supply cuts would soon balance markets as demand plunges due to the coronavirus pandemic.
Amazon will have to limit its deliveries in France to essential goods like food and medical supplies while it carries out a more thorough assessment of the risk of coronavirus contagion at its warehouses, a French court ruled on Tuesday.
Shares of Tesla Inc surged 12% on Tuesday after Credit Suisse upgraded its rating on the electric carmaker and as Wall Street rallied on optimism the coronavirus outbreak was reaching a plateau.
Apple Inc on Tuesday said it would release data that could help inform public health authorities on whether people are driving less during lockdown orders to slow the spread of the new coronavirus.
German sports retailer Adidas on Tuesday said it received approval for a syndicated 3 billion-euro ($3.3 billion) government-backed loan to mitigate the financial impact on its business from the spread of the coronavirus.
Texas energy regulators on Tuesday morning started to hear from dozens of energy executives on an initiative calling for the state to mandate an output cut to stem the sharpest oil price drop in decades.
Beating the first quarter’s market crash took some extreme strategies, such as moving nearly everything to cash, or going very short. Now, fund managers who prevailed during the worst start to a year for U.S. stocks are betting on recession-resilient companies to take them to the next leg.
The top U.S. infectious disease expert Anthony Fauci said on Tuesday that a May 1 target date for reopening the economy was “a bit overly optimistic,” citing a lack of critical testing and tracing procedures.
The Mexican unit of Japanese automaker Honda Motor Co said on Tuesday it would extend a suspenion of operations at its plants in the states of Guanajuato and Jalisco until April 30 due to the impact of the novel coronavirus outbreak.
Wall Street jumped on Tuesday as hopes that President Donald Trump could move to ease coronavirus-induced lockdowns overshadowed dismal quarterly earnings reports from JPMorgan and Wells Fargo.
Norwegian Air shares plummeted again on Tuesday, and are now trading down around 97% from their 2015 peak, with the airline’s survival depending on creditors accepting a rescue plan proposed last week.
The U.S. Transportation Department on Tuesday awarded nearly $10 billion to U.S. airports struggling with a massive falloff in travel demand because of the coronavirus pandemic.
Saudi Aramco, the world’s largest oil producer, is in early talks with banks for a loan of about $10 billion to help finance its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC), according to three banking sources.
Boeing Co on Tuesday reported another 75 cancellations for its 737 MAX jetliner in March, as the coronavirus crisis worsened disruptions from the grounding of its best-selling jet.
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