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Chevron Corp cut its capital spending budget by $4 billion on Tuesday, leading a wave of cost-cutting announcements across the oil-and-gas industry as it reels from declining demand in the face of the coronavirus pandemic and a dramatic slide in prices.

U.S. investors will likely see sharp declines in capital returns this year as companies look to conserve cash during the coronavirus crisis, according to S&P Dow Jones Indices which is predicting a significant first-quarter decline in buybacks and a dismal second quarter.

Shortly after British Prime Minister Boris Johnson ordered the closure of non-essential retailers on Monday to curb the spread of coronavirus, the parent company of Sports Direct wrote to its staff to let them know: the next day would be business as usual.

A price war between the world's oil powerhouses is leaving many producers in Latin American struggling to cover production costs, boosting chances of output cuts and investment delays in coming months.

Broad powers over U.S. factories brought in by President Donald Trump could fuel protectionism and jeopardize the supply of critical medical equipment to fight the coronavirus pandemic, Dutch health technology company Philips warned on Tuesday.

A blistering dollar rally has revived speculation that the U.S. may rein in its currency if the buck goes much higher.

U.S. lawmakers are nearing agreement on a package of grants for passenger and cargo airlines and contractors worth $32 billion as part of a massive U.S. stimulus and rescue package amid the massive travel demand falloff because of the coronavirus outbreak, three people briefed on the matter said.

For European governments battling to brace economies pummeled by the coronavirus, there might be no better time to go green.

Phillips 66 is delaying three sizeable scheduled shutdowns at its refineries this year, the company said on Tuesday, because of concerns that coronavirus could spread among the refineries' workers if the maintenance goes ahead.

Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic which is boosting unemployment and severely disrupting economic activity.

The healthcare unit of French industrial gases company Air Liquide said on Tuesday it was ramping up production of ventilators needed by hospitals to deal with the coronavirus outbreak.

Oil rose over 3% on Tuesday after the U.S. Federal Reserve said it would take steps to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.

Oilfield services firm Halliburton is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.

Citigroup Inc will temporarily close up to 15% of its U.S. branches in light of reduced foot traffic amid the coronavirus outbreak, a spokesman told Reuters.

Major automakers, parts suppliers and auto dealers urged U.S. lawmakers on Monday to provide "robust credit facilities" to ensure "sufficient liquidity" in the auto industry despite the coronavirus outbreak.

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 sell-off.

Britain has told airlines that state investment to help them survive the coronavirus crisis will only be considered once they have looked at the possibility of raising capital from existing investors, a person familiar with the situation said.

The grounding of virtually all flights by Europe's largest budget airline and European air traffic data on Tuesday highlighted the enormity of the shock to aviation industries from the coronavirus now emptying skies around the globe.

Oil rose about 2% on Tuesday after the U.S. Federal Reserve said it would take step to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.

Oilfield services firm Halliburton is accelerating its cost-cutting and will reduce spending below its original $1.2 billion budget, its finance chief said on Tuesday.