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Updated: 4 years 29 weeks ago
Wall Street set to surge on coronavirus slowdown hopes
Wall Street was set to resume a strong rally on Tuesday as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that the sweeping lockdown measures were working.
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Millions of aviation jobs at risk, airlines beg for govt support: IATA
Global airlines said 25 million jobs across the world could be at risk from the coronavirus travel downturn, as the industry's representative body launched a plea for urgent government support amid warnings that carriers are running out of cash.
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Last but not least: Exxon chops spending by 30%
Exxon Mobil Corp on Tuesday throttled back a multi-year investment in shale, LNG and deep water oil production and will cut planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices.
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Cineworld suspends dividend, defers pay to cushion virus hit; shares soar
Cineworld's shares soared 36% on Tuesday after it suspended its dividend and said it was in talks with landlords, film studios and major suppliers to offset the impact of the closure of all its 787 cinemas due to the coronavirus pandemic.
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Japan's SoftBank to invest $48 million in Brazil pet products site Petlove
Japan's SoftBank Group Corp reached an agreement to invest 250 million reais ($48 million) in pet products online retailer Petlove, the companies said in a statement on Tuesday.
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WeWork special committee files lawsuit against SoftBank after tender offer falls through
The special committee on the board of The We Company, which operates office-sharing startup WeWork, filed a lawsuit against its largest shareholder SoftBank Group Corp on Tuesday, challenging its decision to terminate a $3-billion tender offer.
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Coronavirus hopes propel stocks, euro higher
World stock markets enjoyed a second day of sharp gains on Tuesday as signs of progress against the coronavirus in both Europe and the United States and some more liberal helpings of stimulus kept investors charging back in.
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In a first, China knocks U.S. from top spot in global patent race
China was the biggest source of applications for international patents in the world last year, pushing the United States out of the top spot it has held since the global system was set up more than 40 years ago, the U.N. patent agency said on Tuesday.
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Honda furloughs U.S. workers until May 1 as coronavirus suspends operations
Honda Motor Co on Tuesday said that it had furloughed workers at its U.S. plants which will be closed until May 1 as demand for cars in the country has plummeted due to the spread of the coronavirus.
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Graphic: Oil majors cut 2020 spending by 22% after prices slump
The world's biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia.
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Macy's finance chief Paula Price to step down in May
Department store chain operator Macy's Inc said on Tuesday Chief Financial Officer Paula Price would step down from the role next month after nearly two years on the job.
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Futures surge on early signs of coronavirus slowdown in hot spots
U.S. stock index futures bounced for a second straight day on Tuesday as risk appetite returned on tentative signs that the coronavirus outbreak was starting to plateau in hard-hit U.S. states.
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Global health fund calls for $8 billion to begin COVID-19 exit strategy
A leading global health fund has asked international businesses and governments to provide $8 billion to support development and production of COVID-19 tests, drugs and vaccines.
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Samsung first-quarter beats estimates; chips likely to prop up virus-hit second-quarter
Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
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VW plans to partially reopen plant in Spain's Navarra on April 20
German carmaker Volkswagen hopes to partially reopen its plant in Spain's Navarra region on April 20 after its closure in mid-March due to the coronavirus outbreak, a spokesman for the plant said on Tuesday.
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Size of OPEC+ oil cuts will depend on how much others cut: source
Any final agreement for how much OPEC and its allies, a group know as OPEC+, will cut during their talks on Thursday would depend on the volumes that other producers such as the United States, Canada and Brazil are willing to reduce, an OPEC source said on Tuesday.
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Demand for Luckin app surges as Chinese rush to drink up after admission of fraud
Luckin Coffee's app has rocketed to become the second most popular in China as consumers rushed to claim a free drink that it has long offered for downloading, worried the chain might collapse after it said much of its sales last year were fabricated.
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Oil higher as hopes build for production cut amid coronavirus threat to demand
Oil rose on Tuesday amid hope that the world's biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and big production cuts will be needed.
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Cineworld closes all its cinemas due to coronavirus pandemic
British cinema operator Cineworld said on Tuesday it has shut all its 787 cinemas across 10 countries due to the coronavirus pandemic and that it was in talks with its lenders for ongoing liquidity requirements.
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Asian shares cautiously gain on hopes virus is slowing, dollar slips
Asian stock markets rallied for a second day on Tuesday and riskier currencies rose, on tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.
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