Business & Finance News
Occidental Petroleum Corp said on Wednesday it would add to its board three of activist investor Carl Icahn’s associates, ending a long and bitter fight that began after its ill-timed acquisition of rival Anadarko Petroleum.
A breakneck rebound in world stocks made it past the 10% mark on Wednesday before more global coronavirus warnings and fresh turbulence in commodity markets saw things grind to a halt.
The U.S. Securities and Exchange Commission (SEC) said on Wednesday it would extend its prior conditional regulatory relief from disclosure requirements for public companies affected by the coronavirus.
As the United States works overtime to screen thousands for the novel coronavirus, a new blood test offers the chance to find out who may have immunity – a potential game changer in the battle to contain infections and get the economy back on track.
Fallout from the coronavirus outbreak may finally lift the curse of the safe-haven yen for Japan but policymakers fear fiscal laxity could lead to a currency free-fall eventually, undermining efforts to cushion the economy from the pandemic.
U.S. stock index futures fell on Wednesday after a strong rebound in the previous session, as an imminent $2 trillion rescue package failed to completely allay investor concerns over the economic threat from the coronavirus pandemic.
India is likely to agree an economic stimulus package of more than 1.5 trillion rupees ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told Reuters.
British supermarket Sainsbury’s said on Wednesday it would help its smaller suppliers during the coronavirus emergency by paying them immediately and making finance available.
German conglomerate Thyssenkrupp will cut 3,000 jobs and invest 4.2 billion euros ($4.6 billion) at its struggling steel division by 2026 as part of a wage deal struck with powerful labor union IG Metall, it said on Wednesday.
The head of the European Central Bank Christine Lagarde asked euro zone finance ministers at a videoconference on Tuesday evening to seriously consider a one-off joint debt issue of “coronabonds” to help fight the epidemic, two officials said.
A rebound in world stocks reached a lofty 11% on Wednesday and commodities made gains too, as coronavirus-battered markets leapt on news of a $2 trillion U.S. fiscal stimulus package.
Walmart Inc on Wednesday named Sameer Aggarwal chief executive officer of Best Price, its Indian cash and carry business, and said it was in touch with supplier partners for adequate stocking at its stores during the 21-day government sanctioned lockdown.
China has begun buying U.S. liquefied petroleum gas (LPG) again after a hiatus of nearly 20 months as Beijing waived punitive tariffs to boost imports of U.S. goods as part of the Sino-U.S. Phase 1 trade deal, industry sources said.
U.S. stock index futures rose on Wednesday, putting Wall Street on course to extend its massive bounce from the previous session, as Washington reached a deal on a $2 trillion stimulus package to help ease some economic pain from the coronavirus pandemic.
South Korea’s Kia Motors Corp is considering making face masks at its Chinese factory to help battle the spread of the coronavirus, a spokesman said on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
