Reuters

The Trump administration is moving ahead with oil and gas lease sales in four Western states beginning on Tuesday, bucking criticism from taxpayer advocates who say the auctions should be postponed because of a meltdown in energy prices.

Chevron Corp will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices.

Consumer goods giant Unilever Plc said on Tuesday it would shield its workforce for up to three months from sudden drop in pay, resulting from market disruptions or an inability to perform their roles during the coronavirus pandemic.

As airlines idle thousands of aircraft for which there are no passengers, they are hitting an unprecedented problem: finding a place to park them.

British manufacturers are the most pessimistic about the outlook than they have been at any time since the global financial crisis more than a decade ago because of the spread of coronavirus, a survey showed on Tuesday.

As several more U.S. states moved to impose stay-at-home orders to limit the spread of the coronavirus, industries from steelmakers to auto dealerships were scrambling for exemptions that would allow them to remain open.

Wild swings in asset prices have thrown a spotlight on liquidity in corners of the $4.4 trillion market for U.S. exchange-traded funds, which have played a key role for investors in Wall Street's coronavirus-fueled selloff.

Global equities rebounded almost 2% on Tuesday, off near four-year lows, and the dollar slipped as investors pinned hopes on unprecedented stimulus steps by the U.S Federal Reserve and other policymakers to ease strains in financial markets.

The shock from coronavirus to banks is set to be greater but less prolonged than lenders faced in last year's stress test and the financial system remains resilient, the Bank of England said on Tuesday.

Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid package.

The pandemic is taking its toll on aerospace manufacturing, with Boeing Co saying it would halt production of most widebody jets and Airbus SE restarting only partial output after a four-day shutdown as suppliers cut jobs.

Ryanair on Tuesday said it does not expect to operate flights in April or May and has offered its aircraft to European governments for rescue or the essential movement of medicines and personal protective equipment.

Democratic U.S. lawmakers on Monday proposed giving struggling U.S. airlines and contractors $40 billion in cash grants that would not have to be paid back but require significant new environmental, labor and other conditions.

Tesla bought hospital ventilators in China and shipped them to the United States, CEO Elon Musk said on Tuesday.

U.S. President Donald Trump's desire to rapidly reopen the economy despite signs the coronavirus is still spreading may backfire, with higher deaths and citizens remaining fearful of going out, some investors said.

Volkswagen will suspend its car production in Russia over a supply shortage caused by the coronavirus outbreak in Europe, Volkswagen Group Rus said on Tuesday.

S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.

The dollar slipped for a second consecutive day on Tuesday after the U.S. Federal Reserve unveiled fresh measures to supply precious liquidity into funding markets, sending risky currencies such as the Australian dollar soaring.

The meltdown in financial markets over the coronavirus has sparked a huge jump in foreign exchange trading volumes, with average daily turnover so far in March up 27% on February as volatility soared, CLS said on Tuesday.

Wizz Air has suspended all flights to and from Bulgarian city of Varna in an attempt to help curb the spread of the coronavirus, the low-cost carrier said in a statement on Tuesday.