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Updated: 3 years 45 weeks ago
Traders hightail it out of U.S. oil contract as it goes negative
Energy 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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Business groups welcome limited delays in U.S. tariffs, say more relief needed
U.S. retailers and other business groups on Monday welcomed a move by the Trump administration to allow importers to defer for three months any tariff payments they owe the government, but said they needed more tariff relief to deal with the pandemic.
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U.S. Supreme Court sides with BP unit to curtail Superfund site cleanup lawsuits
The U.S. Supreme Court handed BP Plc unit Atlantic Richfield Co a victory on Monday, making it harder for Montana landowners to seek a more extensive cleanup of a hazardous waste site than the federal government had ordered.
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Exclusive: Neiman Marcus to file for bankruptcy as soon as this week - sources
Neiman Marcus Group is preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to succumb to the economic fallout from the coronavirus outbreak, people familiar with the matter said.
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Volkswagen settles emissions class action with three-quarters of claimants
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group VZBV over the carmaker's rigging of diesel emissions tests, the carmaker said on Monday.
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Wall Street drops on oil price crash, earnings anxiety
U.S. stocks headed lower on Monday following a strong two-week rally as oil prices crashed, while investors turned cautious over what is expected to be a disappointing week for earnings and economic data.
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Carrefour halves dividend due to coronavirus outbreak
Carrefour , Europe's largest retailer, said on Monday it was halving its 2019 dividend to 0.23 euros per share and that CEO Alexandre Bompard would waive 25% of his fixed salary for a period of two months due to the coronavirus outbreak.
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U.S. senators propose $500 billion rescue for state, local governments
A U.S. Senate Republican and a Democrat proposed a $500 billion rescue package for state and municipal governments on Monday, as it became increasingly clear that the next coronavirus relief bill will not include money for reeling local authorities.
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United Airlines sees $2.1 billion loss as coronavirus hits LatAm growth hopes, seeks more federal aid
United Airlines said on Monday it expects to report a pretax 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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Traders play 'hot potato' with U.S. oil contract as it crashes to $5 a barrel
Energy traders bailed out of the expiring May U.S. oil futures contract in a frenzy on Monday, as the contract dropped by more than 70% to less than $5 a barrel and opening the widest gap ever between it and the next contract with storage rapidly filling.
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HSBC cuts top investment bank jobs despite wider firing freeze
HSBC has cut a number of top management roles in its investment bank, memos seen by Reuters showed, a sign that Chief Executive Noel Quinn is pressing on with plans to shake up the group despite having put a wider job cut programme on hold.
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SunPower idles factories as coronavirus hits solar demand
U.S. solar panel maker SunPower Corp on Monday said it had temporarily stopped production at all of its factories in five countries as the coronavirus outbreak ravages demand for its products.
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Traders play 'hot potato' with U.S. oil contract as it crashes 50%
Energy traders bailed out of the expiring May U.S. oil futures contract in a frenzy on Monday, as the contract dropped by more than 50% to less than $8 a barrel and opening the widest gap ever between it and the next contract with storage rapidly filling.
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Coronavirus pushes Latin America's budding startups into survival mode
The chief executive of Colombian food technology startup Muy had expected to spend the past few weeks gearing up to raise a dollop of fresh funds from venture capital firms for an ambitious expansion plan.
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U.S. crude futures plunge to lowest on record on scant storage, weak demand
Oil prices tumbled on Monday, with the U.S. crude futures contract plunging more than 50% to the lowest price on record, as investors worried about lack of storage and German and Japanese data indicated a bleak global economy.
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Volkswagen in Brazil to keep factories closed through April
Volkswagen AG said on Monday it will keep its factories in Brazil, South America's top auto producer, shut through the end of the month, but that a decision has not been made on whether it will reopen them in May or later.
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Vivendi shareholders approve dividend of 0.60 euro per share
Vivendi's shareholders approved on Monday the payment of a dividend of 0.60 euro per share for the fiscal year 2019, with 99.52% of shareholder votes supporting the plan.
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FCC approves Ligado plan to deploy mobile broadband network
The five-member Federal Communications Commission voted unanimously to approve an order to allow Ligado Networks[MOSAV.UL] to deploy a low-power nationwide 5G network despite objections from the U.S. Defense Department, other federal agencies and major U.S. airlines.
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Atlantia unit eyes govt guarantee scheme to fight virus impact - sources
The motorway unit of Italian infrastructure group Atlantia is considering tapping government-backed liquidity to temper the impact of coronavirus on its business, two sources with knowledge of the matter said on Monday.
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IMF's Georgieva fears coronavirus impact on developing countries
Developing countries may be the hardest hit economically by the coronavirus, International Monetary Fund managing director Kristalina Georgieva said on Monday, adding the IMF stands ready to help.
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