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Updated: 4 years 30 weeks ago
Oil producers pin hopes for massive cuts on unprecedented stockpile purchases
An unprecedented deal by oil producers to curb supply to match demand hollowed out by the coronavirus pandemic is set to depend partly on purchases by consumer countries for their strategic stockpiles on a scale not before seen.
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Coronavirus seen knocking U.S. retail sales in March
U.S. retail sales likely suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.
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Major U.S. airlines accept government aid for payrolls; American and Alaska also seeking loans
The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers have jobs until October while the industry battles its biggest-ever crisis.
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Asia shares consolidate, China cuts another interest rate
Asian share markets took a breather on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.
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Airbnb secures new $1 billion loan on top of $1 billion bond deal: sources
Airbnb, whose home rental business is suffering as the coronavirus pandemic freezes global travel, has secured a new $1 billion loan just days after closing a $1 billion debt deal, sources told Reuters on Tuesday.
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Amazon fires three critics of warehouse conditions in pandemic
Amazon.com Inc said on Tuesday it had fired three critics of the company's pandemic response for workplace violations, dismissals that drew sharp words from U.S. Senator Bernie Sanders and a labor coalition.
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Oil rises on bargain-hunting, hopes for stockpile purchases
Oil prices rose on Wednesday as investors looked for bargains after the previous session's slump and on hopes that consuming countries will look to fill their strategic reserves, although oversupply fears and warnings of a deep recession capped gains.
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Texas oil hearing stirs hornet's nest, as regulators offer no clue to decision
Texas energy regulators listened as top executives on Tuesday debated whether the state should cut oil output by 1 million barrels per day, but did not indicate how they might vote after more than 10 hours of sometimes dire testimony.
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Glade Brook pitches 'extraordinary opportunity' in tech debt amid coronavirus
Glade Brook Capital Partners LLC, the venture capital firm led by Paul Hudson, is pitching a new fund to investors targeting the debt of private technology companies impacted by economic disruption from COVID-19.
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McDonald's and its U.S. franchisees at odds over financial relief as crisis weighed
McDonald's Corp rejected a request from its U.S. franchisees to delay collecting some March rent and royalty payments, prompting claims that the world's largest fast-food company is not providing enough support during the coronavirus crisis, according to several letters seen by Reuters.
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Airbnb in advanced talks about new $1 billion loan: sources
Airbnb is in advanced talks for a new $1 billion loan just days after the U.S. home rental company closed a $1 billion debt deal with private equity firms, people familiar with the matter said on Tuesday.
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Delta working with Airbus on order book after deferring A350 orders linked to Latam
Delta Air Lines Inc confirmed on Tuesday it had taken over an order for 10 Airbus A350 jets from Latam Airlines Group , but said it had deferred several of the near-term deliveries and was working with Airbus on options across its entire order book.
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Asian stocks seen retreating from 1-month high as investors reconsider risk
Asian shares looked set to pull back from a one-month high on Tuesday, as warnings of a deep recession dampened investor optimism that the slowing spread of the coronavirus could allow businesses to re-open.
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Boeing 737 MAX cancellations pile up during production halt
Boeing Co on Tuesday reported another 75 cancellations for its 737 MAX jetliner in March, as the coronavirus crisis worsened disruptions from the grounding of its best-selling jet.
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Wall Street jumps as hopes for easing lockdown offset earnings worry
U.S. stocks jumped on Tuesday as optimism that the Trump administration could move to ease lockdowns from the coronavirus outbreak overshadowed worrying earnings reports from JPMorgan and Wells Fargo.
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Major U.S. airlines accept government aid for payrolls; American also wants a loan
The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers jobs until October while the industry works to overcome its biggest-ever crisis.
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Virus-hit Princess Cruises to anchor all voyages till end of June
Carnival Corp-owned Princess Cruises, whose three ships had become hotbeds for coronavirus infections, said on Tuesday it would cancel all voyages until June-end, after a "no sail order" from U.S. health officials.
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General Motors says will make 1.5 million masks a month in Mexico
General Motors Co will begin producing 1.5 million face masks a month at its plant in the Mexican city of Toluca at the end of April, it said on Tuesday, aiming for 9 million masks over six months to help curb the spread of the coronavirus.
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GM begins production of ventilators for U.S. government
General Motors Co said on Tuesday it had started producing ventilators in the volume needed to treat severely ill coronavirus patients and would deliver the first batch of the medical equipment to the U.S. government this month.
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Amazon fires three reported critics of warehouse conditions in pandemic
Amazon.com Inc said on Tuesday it had fired three reported critics of the company's pandemic response for workplace violations, dismissals that drew sharp words from U.S. Senator Bernie Sanders and a labor coalition.
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