Feed aggregator

China's JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares, after the e-commerce company estimated a growth in sales in the current quarter that has been ravaged by the coronavirus outbreak.

U.S. stock index futures rose in volatile trading on Tuesday, a day after Wall Street's steepest fall since 1987, as drastic efforts to contain the coronavirus pandemic paralyzed parts of the economy and crushed business sentiment.

China's e-commerce company JD.com Inc said on Tuesday it would buy back up to $2 billion of its shares as the coronavirus outbreak grows bigger.

Oil fell below $30 a barrel on Tuesday, trading close to its lowest in more than four years, as the coronavirus pandemic hit demand and Saudi Arabia raised output to a record as it battles with Russia for market share.

Trading house Glencore has chartered the 3 million barrel crude carrier 'Europe' to store oil at sea for at least 6 months, trading sources on Tuesday.

British Airways is due to make an unspecified number of pilots redundant according to UK pilot union BALPA, as the airline seeks to reduce its costs to try survive the coronavirus crisis.

Singapore Airlines on Tuesday said it would cut capacity further as border controls are enforced across the world in a bid to curb the spread of the coronavirus epidemic.

Russia's airlines could lose 100 billion roubles ($1.4 billion) due to the coronavirus outbreak and risk going bankrupt, the head of Russia's Federal Air Transport Agency, also known as Rosaviatsiya, told the Interfax news agency.

Abu Dhabi's Etihad Airways said on Tuesday it was expanding its cargo network to markets where passenger operations have decreased due to the coronavirus epidemic.

Fearful of causing further harm to an economy laid low by the coronavirus epidemic, authorities in China have become a lot more lenient dealing with entrepreneurs breaking the law.

Volkswagen Group's Audi brand will halt output at its plant in Hungary on Monday, the factory said, after Volkswagen announced a suspension of production at plants in Italy, Portugal, Slovakia and Spain.

U.S. stock index futures turned higher in volatile trading on Tuesday, following Wall Street's steepest fall since 1987 in the previous session, as drastic efforts to contain the coronavirus pandemic paralyzed supply chains and crushed business sentiment.

Germany's largest airline, Lufthansa , is working with the government to prepare an "air bridge" to ensure that necessary goods would continue to arrive in Germany during the coronavirus epidemic, the airline's boss said on Tuesday.

Volkswagen Group will suspend production this week at plants in Italy, Portugal, Slovakia and Spain and is preparing to shut down the rest of its factories across Europe due to the spread of coronavirus, its CEO said on Tuesday.

Borrowing costs for junk-rated European companies have nearly tripled in less than a month, and with the market for new debt issuance shuttered, there could be a lot more pain in store for firms needing to raise fresh money to redeem debt.

Boeing and Airbus face a drop in planned deliveries as airlines struggle to survive the coronavirus crisis, sending shares in planemakers plunging on Monday.

The United States and other rich countries need to start spending their way out of the coronavirus crisis, White House advisers, the International Monetary Fund and business groups said Monday, amid growing market panic about the pandemic.

U.S. stock index futures were lower on Tuesday following Wall Street's steepest fall since 1987 in the previous session, as rising business disruptions in an effort to contain the coronavirus pandemic fanned worries over its economic damage.

Volkswagen said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects costs to rise by another 4.1 billion euros, Chief Financial Officer Frank Witter said on Tuesday.

Oil prices fell below $30 per barrel on Tuesday, extending losses after shedding a tenth of their value on Monday, as the coronavirus pandemic hit demand while Saudi Arabia raised output to a record as it battles with Russia for market share.