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Factbox: Global oil, gas producers slash spending after price rout

Reuters Business News - Tue, 03/17/2020 - 05:11
Oil and gas companies around the world are planning to slash spending in the face of a plunge in oil prices caused by the spread of the coronavirus and a push by Saudi Arabia and Russia to flood the market with supply. [O/R]
Categories: Reuters

Credit Suisse offers paid leave for workers needing to care for children, elderly

Reuters Business News - Tue, 03/17/2020 - 04:43
Credit Suisse will be giving employees needing to care for children and family members affected by the coronavirus outbreak a month of paid leave through mid-April, its chairman and CEO told staff in a memo late on Monday.
Categories: Reuters

Abu Dhabi's Etihad adding cargo flights on routes where passenger operations are down

Reuters Business News - Tue, 03/17/2020 - 04:41
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.
Categories: Reuters

Musk told Tesla employees in memo to stay home if unwell: sources

Reuters Business News - Tue, 03/17/2020 - 04:18
Tesla Inc Chief Executive Officer Elon Musk sent employees an email on Monday telling them to stay at home if they felt ill or uncomfortable, two people who saw the memo told Reuters.
Categories: Reuters

Oil prices jump over $1 as sharp falls draw bargain buyers

Reuters Business News - Tue, 03/17/2020 - 04:17
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.
Categories: Reuters

Renault halts Spain operations after state of emergency declared

Reuters Business News - Tue, 03/17/2020 - 02:54
French carmaker Renault said on Tuesday that it was halting operations in Spain following the declaration of a state of emergency there in light of the coronavirus crisis.
Categories: Reuters

Airbus to suspend production in France and Spain

Reuters Business News - Tue, 03/17/2020 - 02:43
Airbus is stopping production and assembly activities at its plants in France and Spain for the next four days as governments there implement new measures to restrict movements and fight the coronavirus outbreak, the planemaker said on Tuesday.
Categories: Reuters

Airbus to temporarily halt production in France and Spain

Reuters Business News - Tue, 03/17/2020 - 02:21
Airbus announced it would stop production and assembly activities at its plants in France and Spain for the next four days, as governments there implement new measures to restrict movements and fight the coronavirus outbreak.
Categories: Reuters

'Single biggest shock': Airlines, airports battle coronavirus cash crunch

Reuters Business News - Tue, 03/17/2020 - 02:11
As Boeing and other U.S. aviation companies angle for billions in assistance, airlines and airport operators globally are suspending dividends, selling airplanes and flying cargo on passenger jets amid plunging demand caused by the pandemic.
Categories: Reuters

Asian stocks jittery after Wall Street plunge

Reuters Business News - Tue, 03/17/2020 - 01:24
Asian shares held their ground on Tuesday in a volatile session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Categories: Reuters

Oil prices jump $1 as sharp falls draw investors, bargain buyers

Reuters Business News - Tue, 03/17/2020 - 01:13
Oil rose more than $1 on Tuesday as bargain hunters emerged after recent sharp falls due to the coronavirus pandemic and the price war between Saudi Arabia and Russia, but fears of a recession still dragged on the market.
Categories: Reuters

Nordstrom shuts stores, pulls 2020 outlook due to coronavirus

Reuters Business News - Mon, 03/16/2020 - 22:48
Nordstrom Inc said on Monday it would temporarily shut its stores in the United States and Canada and pull its fiscal 2020 forecast, as the upscale retailer joins its peers in an effort to limit the spread of the coronavirus.
Categories: Reuters

Asian stocks fall in volatile session after historic Wall St. plunge

Reuters Business News - Mon, 03/16/2020 - 21:58
Asian shares fell on Tuesday in a topsy-turvy session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Categories: Reuters

PG&E wins approval for $23 billion bankruptcy financing package

Reuters Business News - Mon, 03/16/2020 - 21:33
Power producer PG&E Corp said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition to those financing commitments.
Categories: Reuters

Exclusive: Shale gas pioneer Chesapeake Energy taps restructuring advisers - sources

Reuters Business News - Mon, 03/16/2020 - 21:24
Chesapeake Energy Corp, the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday.
Categories: Reuters

Oil prices jumped $1 as recent sharp falls draw investors

Reuters Business News - Mon, 03/16/2020 - 21:21
Oil prices rose more than $1 on Tuesday as the recent sharp falls due to the coronavirus pandemic encouraged bargain hunters to come forward, although the market remains volatile as the spread of the infection disrupts economies and hurts demand.
Categories: Reuters

Nordstrom to close stores in U.S., Canada, withdraws 2020 outlook due to coronavirus

Reuters Business News - Mon, 03/16/2020 - 20:24
Apparel retailer Nordstrom Inc on Monday withdrew its fiscal 2020 forecast and said it would close stores in the United States and Canada for two weeks due to the coronavirus pandemic.
Categories: Reuters

Hyundai Motor's China plant sales in February fall 97% from a year ago

Reuters Business News - Mon, 03/16/2020 - 20:20
Hyundai Motor's China domestic plant sales in February was 1,007 vehicles, company data showed on Tuesday, down 97% from 38,017 vehicles a year ago.
Categories: Reuters

Exxon pledges 'significant' spending cuts amid coronavirus, oil slide

Reuters Business News - Mon, 03/16/2020 - 20:03
Exxon Mobil on Monday said it will make "significant" cuts to spending in the face of the unprecedented slide in oil prices due to the global coronavirus outbreak, which sent its shares to a 17-year low.
Categories: Reuters

U.S. gasoline refining profits slump to 2008 levels amid coronavirus fears

Reuters Business News - Mon, 03/16/2020 - 20:01
U.S. gasoline refining margins fell a whopping 95% on Monday - even briefly turning negative - with the cost of gasoline plunging faster than crude oil in anticipation that the coronavirus will keep people off the road and in their homes.
Categories: Reuters
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