Business & Finance News
Exxon Mobil on Tuesday called for tighter regulation of the greenhouse gas methane and offered up its own in-house rules as a model for companies and lawmakers worldwide.
Saks Fifth Avenue owner Hudson’s Bay Co Executive Chairman Richard Baker will take over as chief executive officer, a source familiar with the matter told Reuters on Tuesday.
The Dow Jones Industrials index looked set to drop more than 100 points at the open on Tuesday after G7 heads stopped short of outlining measures to cushion the economic blow of the coronavirus epidemic, while assuring policy support.
Peugeot maker PSA does not expect to make a call before the end of 2020 on whether to keep its British factory at Ellesmere Port running, depending on how Brexit talks evolve, Chief Executive Carlos Tavares said on Tuesday.
Chevron Corp on Tuesday said it would keep its spending in check and return up to $80 billion to shareholders over the next five years, with Chief Executive Mike Wirth making the case that his company is the oil major best able to produce oil and generate profits at the lowest cost.
OPEC ministers were starting to arrive in Vienna on Tuesday where they will debate whether to cut oil production further as the spread of the coronavirus hits demand for crude worldwide.
Carmakers are under pressure in Europe to sell more electric cars or face huge fines for breaching new emissions rules aimed at tackling global warming.
Algeria energy minister and OPEC president said on Tuesday OPEC+ countries will discuss new “substantial” oil production cuts at their meetings in Vienna this week, Algerian state news agency APS reported.
The European Central Bank is preparing possible measures to provide liquidity to businesses hit by the economic fallout of the coronavirus outbreak, three sources familiar with the discussion told Reuters.
There is no need for any imminent action from the European Central Bank to combat the impact of the coronavirus outbreak, but global coordination to shield the world economy is a welcome step, ECB policymaker Peter Kazimir said on Tuesday.
New electric models will help BMW and Daimler cut emissions from the cars they sell by an average of 20% this year, the German automakers predicted on Tuesday, as they strive to meet tough new European pollution rules.
The bosses of Ryanair and British Airways-owner IAG expect the drop-off in travel demand to stabilize in the coming weeks, before bookings return for the summer, they said at a conference on Tuesday.
Chevron Corp said on Tuesday it could return as much as $80 billion to shareholders over five years even if oil prices remained low.
The worst is still to come for the airline industry in terms of economic damage from the coronavirus outbreak, European carrier bosses warned on Tuesday, but they predicted that travel demand could stabilise in the coming weeks.
Impossible Foods on Tuesday announced an average of 15% cut in vegan product prices to distributors in the United States and asked them to pass it on to restaurants as the plant-based meat maker competes against beef products.
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