Business & Finance News
There needs to be an agreement on oil production numbers before any future meeting between OPEC and non-OPEC members, Iran’s Oil Minister Bijan Zanganeh tweeted on Tuesday.
Exxon Mobil Corp said on Tuesday the start of production at its Payara project in Guyana, its third major development in the world’s newest offshore oil hotspot, could be delayed as the company scales back spending due to the crude price crash.
Goldman Sachs Group Inc must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial crisis.
World stock markets posted sharp gains on Tuesday as signs of progress in curbing the spread of the novel coronavirus in both Europe and the United States fueled investors’ appetite for risk.
The head of the U.S. Securities and Exchange Commission (SEC) said on Tuesday that companies in discussions about bailouts resulting from the economic impact of the coronavirus outbreak should disclose to investors where they stand.
A slew of U.S. ethanol plants have shut down as fuel demand has collapsed during the coronavirus outbreak, and meatpackers have been hit by a worrying side-effect: less carbon dioxide is now available to chill beef, poultry and pork.
Exxon Mobil Corp on Tuesday throttled back investment in shale, natural gas and deep water production, cutting planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices tumble.
Wall Street rose on Tuesday as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working.
Southwest Airlines Co said on Tuesday it would publish this week a new flight schedule for June 6 to June 27 with overall flight activity dropping by about 50% while taking into account “different phases of the recovery anticipated ahead.”
Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus travel downturn and the industry’s representative body said airline finances were so fragile they could not afford to refund customers.
The Trump administration on Tuesday granted a license to General Electric Co to supply LEAP-1C engines for China’s C919 passenger jet, a spokeswoman for the company said.
U.S. stocks jumped at the opening bell on Tuesday, as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that sweeping lockdown measures were working.
The lockdown of millions of people at home across the globe due to the coronavirus should have been the perfect recipe for success for the burgeoning online meal delivery market.
Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.
The U.S. Transportation Department on Tuesday issued final rules setting minimum service requirements for passenger airlines receiving government financial assistance.
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