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Saudi Arabia's energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves.

OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%.

AutoNation Inc , the largest U.S. auto dealership chain, said on Monday Chief Executive Officer Cheryl Miller has been granted a leave of absence for health reasons.

Ford Motor Co said on Monday it expects to post a pre-tax loss of about $600 million for the first quarter as the coronavirus pandemic pummeled its operations, resulting in a 21% drop in vehicle sales to dealers versus the same quarter in 2019.

Toyota Motor Co on Monday said it was suspending auto production in its Brazil plants until at least June 22, joining General Motors Co which also expects to resume production in the same month.

Saudi Arabia's energy minister said on Monday that effective global oil supply cuts would amount to about 19.5 million barrels per day taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves.

General Electric Co said on Monday it used part of the $20 billion in proceeds from the sale of its biopharma business to cut debt.

Ford Motor Co said on Monday it expects first-quarter adjusted loss before interest and taxes to be about $600 million, compared with a profit of $2.4 billion a year earlier.

U.S. President Donald Trump said on Monday the OPEC+ group of oil producers is looking to cut output by 20 million barrels per day, double the 10 million barrels agreed to a day earlier.

U.S. stock indexes fell at the open on Monday after a strong rally last week, with investors bracing for an expected slide in quarterly earnings and signs of the long-term damage of the coronavirus outbreak on Corporate America.

Dish Network Corp has cut staff and is re-evaluating its business to cope better with the fallout from the coronavirus pandemic, the U.S. satellite TV provider told Reuters, without disclosing the number of employees laid off.

Oil prices fluctuated on Monday as the positive impact of major producers agreeing record global output cuts was offset by concerns they will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.

Wall Street was set to open lower on Monday after a strong rally last week, with investors bracing for an expected slide in quarterly earnings and signs of the lingering impact of the coronavirus outbreak on Corporate America.

U.S. food distributor Performance Food Group Co said on Monday it had signed agreements with 13 new retail partners and would have over 1,000 of its employees helping out at grocery stores as retailers try to keep their shelves stocked during the coronavirus pandemic.

SoftBank expects its $100 billion Vision Fund to book a loss of 1.8 trillion yen due to the worsening performance of its tech bets, which will tip the group as a whole into its first loss for 15 years.

(This April 9 story corrects start date of production shutdown to March 23, with furloughs starting on March 30.)

Norway, Western Europe's largest oil producer, will announce its decision on whether to slash crude output soon, potentially adding its weight to a global push to shore up prices, the energy minister said on Monday.

Russia's sovereign wealth fund will continue to invest in Saudi Arabia's Vision 2030 development programme, the Saudi-owned Al-Arabiya channel on Monday cited the head of the fund as saying.

U.S. stock index futures retreated on Monday after a strong rally last week, with investors bracing for the first-quarter earnings season to underline the coronavirus-induced damage to Corporate America.

Volkswagen AG said on Monday it would give financial assistance to its U.S. dealers who wish to use their loaner fleet to pickup and deliver essential supplies in areas affected by the COVID-19 pandemic.