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Updated: 3 years 45 weeks ago
Trump hopes for deal in U.S. Congress on small business program, vote possible in Senate Tuesday
U.S. President Donald Trump said on Monday he hoped negotiators in Congress would reach a deal to provide more aid for small businesses hurt by the coronavirus pandemic, with a vote possible in the Senate on Tuesday.
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U.S. crude futures up over $20, but still trade in negative territory
U.S. crude oil jumped over $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
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IBM sees shift in client spend priorities, withdraws annual forecast
International Business Machines Corp's clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew its 2020 annual forecast.
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GE enters into $15 billion loan agreement
General Electric Co entered into a revolving credit agreement for $15 billion, according to a regulatory filing on Monday.
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Negative $40 oil reflects panic - and U.S. crude market economic reality
Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present on U.S. soil.
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U.S. car rental company Hertz to lay off 10,000 staff on coronavirus hit
U.S. car rental company Hertz Global Holdings Inc said on Monday it plans to lay off 10,000 employees across its North America operations to cut costs amid the economic fallout of the COVID-19 pandemic.
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Oil price crashes into negative territory for the first time in history amid pandemic
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.
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WeWork committee pushes back against SoftBank, defends right to represent shareholders
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
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IBM withdraws 2020 forecast on virus uncertainty, dividends to continue
International Business Machines Corp on Monday withdrew its 2020 annual forecast due to uncertainty caused by COVID-19, but said its customers were relatively well positioned for the pandemic and it would continue to pay dividends.
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IMF may need 'exceptional measures' to facilitate pandemic response: Georgieva
The International Monetary Fund may need to step outside its comfort zone and consider "exceptional measures" to help countries deal with the coronavirus pandemic and mitigate its economic impact, Managing Director Kristalina Georgieva said on Monday.
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Plunge in U.S. oil prices sinks equities; bonds yields edge lower
A historic plunge in U.S. crude oil prices pulled global equity markets lower on Monday and helped drive bond prices higher as investors sought out safe havens amid the economic carnage of the coronavirus pandemic.
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Wall Street slips as oil futures collapse
Wall Street stocks fell on Monday after U.S. crude futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy.
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Oil crashes, ends negative for the first time in history
U.S. crude oil futures turned negative on Monday for the first time in history, ending the day at a stunning minus $37.63 a barrel as traders sold heavily because of rapidly filling storage space at the key Cushing, Oklahoma, delivery point.
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Instant View: Spot U.S. oil futures crash below zero with nowhere to store crude
Energy traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract deep into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.
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Wall Street drops as U.S. producers can't give crude away
Wall Street fell sharply on Monday after U.S. crude futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy.
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Traders hightail it out of U.S. oil contract as prices reach negative $40
Traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.
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U.S. crude futures turn negative for first time on scant storage, weak demand
U.S. crude oil futures turned negative on Monday for the first time in history as storage space was filling up, discouraging buyers as weak economic data from Germany and Japan cast doubt on when fuel consumption will recover.
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U.S. restaurants seek more aid, on track to lose $240 billion by end of 2020
U.S. restaurants asked Congress for more financial aid on Monday to help weather the coronavirus crisis ravaging the industry, saying they are on track to lose $240 billion by the end of 2020.
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United Airlines sees $2.1 billion loss as coronavirus hits Latin America growth hopes, seeks more federal aid
United Airlines said on Monday it expects to report a pre-tax loss of about $2.1 billion for the first quarter, after the coronavirus outbreak smothered its growth aspirations in Latin America and led the company to seek another $4.5 billion in government aid.
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With Congress feuding, a small business deal seems elusive
U.S. Democrats and Republicans in Congress feuded on Monday over who was responsible for delay even as they worked on details of a possible $450 billion-plus deal to provide more aid to small businesses and hospitals hurt by the coronavirus pandemic.
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