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Oil prices gained on Tuesday as hopes rose 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.

China's Ucar Inc, in which Luckin Coffee Chairman Charles Zhengyao Lu is the biggest shareholder, suspended trading of its shares on Tuesday after regulators questioned the car service provider about how the alleged fraud at Luckin would impact it.

A Hong Kong-based activist investor in Toshiba Corp has asked the Japanese conglomerate to sell its entire stake in Kioxia Holdings when the flash memory chip firm is listed in an IPO that could raise up to $32 billion, according to a letter reviewed by Reuters.

Mexican cement company Cemex said on Monday it would resume operations in the country, hours after announcing a pause, as fresh guidelines from the government permitted such a move.

A United Parcel Service Inc worker employed in Kentucky died over the weekend from a COVID-19 infection, Gov. Andy Beshear said at a public health briefing on Monday.

Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.

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.

Oil rose on Tuesday amid hopes that the world's biggest producers of crude will agree to curtail production as the coronavirus pandemic ravages the global economy, even as analysts cautioned the cuts may do little to boost demand.

With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot's owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger.

The New York Stock Exchange said on Monday it was in talks with regulators to temporarily ease its listing requirements to take the strain off companies that may have fallen out of compliance due to the market rout spurred by the coronavirus.

The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the U.S. central bank for cash, easing concerns among banks about getting stuck holding the low interest loans.

Governors of New York, New Jersey and Louisiana pointed to tentative signs on Monday that the coronavirus outbreak may be starting to plateau but warned against complacency as the death toll nationwide topped 10,000 and the number of known infections surpassed 360,000.

Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely rose 3% from a year earlier, slightly beating analysts' forecasts as chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.

Asian markets looked poised on Tuesday to attempt another day of gains after stocks rallied on signs of a slowdown in coronavirus-related deaths, as oil prices resumed their decline on doubts about a potential Saudi-Russian pact to cut output.

U.S. stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country's biggest coronavirus hot spot, fueled optimism a leveling off of the pandemic was on the horizon.

President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic.

The governors of New York and New Jersey pointed to tentative signs on Monday that the coronavirus outbreak was starting to plateau but warned against complacency as the nationwide death toll topped 10,000 and the number of known U.S. infections surpassed 350,000.

Alaska's congressional delegation warned U.S. Treasury Secretary Steven Mnuchin last week that many of its airlines, including its largest regional carrier, RavnAir Group, were on the verge of collapse, according to a letter seen by Reuters.

Airbnb said on Monday private equity firms Silver Lake and Sixth Street Partners will invest $1 billion in the U.S. home rental company, bolstering its finances at a time when the coronavirus outbreak has roiled the travel and leisure industry.

Allstate Corp , one of the largest U.S. auto insurers, said on Monday it would return more than $600 million in premiums to customers as many Americans drive less due to stay-at-home orders aimed at curbing the coronavirus outbreak.