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Faltering consumer confidence will slow the recovery of air travel once coronavirus restrictions end, the sector's main global body warned on Tuesday, citing bleak new survey data.

Gucci sales were hit hard at the beginning of the coronavirus crisis due to its strong reliance on Chinese customers, owner Kering said on Tuesday, though it added that the Italian brand should be well positioned for a recovery.

The German financial markets watchdog BaFin said on Tuesday it had fined BlackRock Investment Management (UK) Ltd 744,000 euros ($809,000) for failure to file voting rights notifications in a timely way.

Xerox Holdings Corp said on Tuesday it will make hand sanitizer in its factories in the United States and Canada to fight the spread of coronavirus, and start deliveries to healthcare organizations later this month.

Oil futures for June plunged to near two-decade lows on Tuesday, as the panic that sent U.S. May futures to below minus $40 per barrel on Monday bled further into the markets due to worries about the coronavirus pandemic's effect on fuel demand in a market overrun by supply.

Wall Street retreated for a second straight day on Tuesday as a collapse in U.S. crude prices and glum annual forecasts by companies foreshadowed the biggest economic slump since the Great Depression due to the coronavirus outbreak.

The U.S. energy secretary said on Tuesday he would talk with leaders in the U.S. House of Representatives later in the day and urge them to fund the purchase of crude to fill the emergency oil reserve.

June oil futures plunged on Tuesday, as the panic that sent U.S. May futures to below minus $40 per barrel on Monday bled further into the markets due to worries about the coronavirus pandemic's effect on fuel demand in a market overrun by supply.

Qatar Airways on Tuesday said mid-level employees and above will have their salaries halved for at least three months but that staff would be back paid when the airline could afford it.

The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.

Data firm IHS Markit sharply lowered its 2020 forecast for global light vehicle sales on Tuesday and warned that the United States will take the biggest hit from the coronavirus pandemic.

The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.

A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.

The oil price will stay low for some time as supply exceeds demand and the current situation on global oil markets is reminiscent of the 1980s oil glut, former BP boss John Browne said on Tuesday.

White House economic adviser Kevin Hassett said on Tuesday the current dip in oil prices is due to a "very short-run thing" and markets will find a new normal.

Brent oil futures are set for extreme volatility when the front-month June contract expires next week, but they will avoid the historic plunge below zero that U.S. peer WTI has suffered, traders and analysts said.

As companies pull the emergency cash cord to help them through the coronavirus crisis, shareholders have been split by an easing of the rules to make it easier for them to turn to investors with the deepest pockets.

Chinese electric vehicle maker BYD Co Ltd , reported on Tuesday a 42% drop in 2019 profit, saying cuts in government subsidies and emissions rules changes had hit demand in the sector.

U.S. home sales dropped by the most in nearly 4-1/2 years in March as extraordinary measures to control the spread of the novel coronavirus brought buyer traffic to a virtual standstill, supporting analysts' views that the economy contracted sharply in the first quarter.

White House economic adviser Kevin Hassett said on Tuesday the current dip of negative oil prices is due to a "very short-run thing" - the coronavirus pandemic - and that a decline in second quarter gross domestic could be the biggest ever posted.