Reuters

There needs to be an agreement on oil production numbers before any future meeting between OPEC and non-OPEC members, Iran's Oil Minister Bijan Zanganeh tweeted on Tuesday.

Lufthansa will close its Germanwings low-cost airline as part of a broader overhaul including capacity cuts across the group, it said on Tuesday as it warned it could take years for the industry to recover from the coronavirus crisis.

Oil was little changed on Tuesday as hopes that the world's biggest producers would agree to cut output were tempered by a worsening crude oil glut and the threat of a deeper-than-expected global recession.

The lockdown of millions of people at home across the globe due to the coronavirus should have been the perfect recipe for success for the burgeoning online meal delivery market.

The Trump administration on Tuesday granted a license to General Electric Co to supply engines for China's new COMAC C919 passenger jet, a spokeswoman for the company said.

Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.

There needs to be an agreement on oil production numbers before any future meeting between OPEC and non-OPEC members, Iran's Oil Minister Bijan Zanganeh tweeted on Tuesday.

Exxon Mobil Corp said on Tuesday the start of production at its Payara project in Guyana, its third major development in the world's newest offshore oil hotspot, could be delayed as the company scales back spending due to the crude price crash.

The U.S. Transportation Department on Tuesday issued final rules setting minimum service requirements for passenger airlines receiving government financial assistance.

AT&T Inc. on Tuesday announced a $5.5 billion term-loan agreement, which it said would give the company "financial flexibility" during the coronavirus outbreak.

A slew of U.S. ethanol plants have shut down as fuel demand has collapsed during the coronavirus outbreak, and meatpackers have been hit by a worrying side-effect: less carbon dioxide is now available to chill beef, poultry and pork.

A Huawei Technologies Co Ltd [HWT.UL] executive on Tuesday described as "unfortunate" plans by the U.S. government to curb the Chinese telecom equipment maker's access to global chip supplies.

World stock markets posted sharp gains on Tuesday as signs of progress in curbing the spread of the novel coronavirus in both Europe and the United States fueled investors' appetite for risk.

Wall Street rose on Tuesday as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working.

Southwest Airlines Co said on Tuesday it would publish this week a new flight schedule for June 6 to June 27 with overall flight activity dropping by about 50% while taking into account "different phases of the recovery anticipated ahead."

The COVID-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year, equivalent to the labour of 195 million full-time workers, the International Labour Organization (ILO) said on Tuesday.

The Trump administration is aiming to reopen the U.S. economy when the nation's top health experts give the go-ahead, but Americans' lives will be drastically different, White House economic adviser Larry Kudlow said on Tuesday.

Honda Motor Co and Nissan Motor Co on Tuesday said they had furloughed thousands of workers at their U.S. operations as the coronavirus pandemic slashes demand for cars in the country.

Oil prices clawed their way into positive territory on Tuesday as hopes that the world's biggest producers will agree to cut output outweighed analyst fears that a global recession in the wake of the coronavirus crisis could be deeper than expected.

U.S. stocks jumped at the opening bell on Tuesday, as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that sweeping lockdown measures were working.