Feed aggregator

Oil prices bounced 8% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus amid a price war between Russia and Saudi Arabia and as new virus cases slowed in China.

Qantas Airways Ltd will cut its international capacity by nearly 25% over the next six months and delay an order for Airbus A350 planes as part of sweeping changes in response to a coronavirus-led plunge in passenger demand.

Blackstone Group Inc is in exclusive talks to take SOHO China Ltd private in a $4 billion deal, said two sources, in one of its biggest bets yet on the Chinese market and which sent the target's shares to a 21-month high.

The largest U.S. airlines are allowing passengers to rebook tickets through April 30 without paying fees to change flights citing uncertainty about traveling during the coronavirus outbreak.

Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia.

Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.

Indonesia Finance Minister Sri Mulyani Indrawati said on Tuesday that authorities are prepared to use all measures they implemented during the 2008 global financial crisis to stabilize financial markets.

Oil prices bounced around 6% on Tuesday, but analysts saw little chance of a major recovery from the biggest daily rout in nearly 30 years after top producers Saudi Arabia and Russia launched a price war.

IKEA on Tuesday started selling its products on Alibaba's Chinese e-commerce platform Tmall, the first time the world's biggest furniture retailer has sold through a third party in its 77-year history.

Barclays on Tuesday slashed its oil price forecasts for 2020, citing OPEC's failure to convince its allies including Russia to cut production further, which led to Saudi Arabia saying it would raise its output in April despite sluggish global demand.

Samsung Display, a supplier for Samsung Electronics and Apple, has asked Vietnam to exempt 700 engineers from coronavirus-hit South Korea from a mandatory quarantine, saying they need to prepare for the production of screens for new smartphones.

Shares of Boeing Co dropped more than 12% on Monday amid a broader market plunge as pressure mounted on global aviation from the spread of the coronavirus and U.S. regulators said they disagreed with Boeing's argument about the safety of wiring bundles on the grounded 737 MAX jet.

Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.

William Ackman's publicly traded hedge fund gained nearly 3% this year, though the billionaire investor warned of volatility ahead as world markets reel under the economic hit from the coronavirus epidemic.

Oil prices jumped more than 6% on Tuesday, clawing back some ground on hopes that a price war by top producers Saudi Arabia and Russia that sparked the biggest daily rout since the 1991 Gulf War will not be sustained.

Qantas Airways Ltd has asked Airbus SE for an extension to a March-end deadline to order up to 12 A350-1000 planes capable of the world's longest commercial flights from Sydney to London, the airline's CEO said on Tuesday.

Amazon.com Inc on Monday is set to announce a new business line selling the technology behind its cashier-less convenience stores to other retailers, the company told Reuters.

Heineken NV will invest 865 million reais ($183.14 million) to expand its Ponta Grossa brewing plant in Brazil, the company said on Monday, as competition between the world's two largest beer makers bubbles up.

Wall Street suffered its biggest one-day loss since the 2008 financial crisis on Monday and recession worries loomed large as tumbling oil prices and ongoing coronavirus fears prompted investor panic on the anniversary of the U.S. stock market's longest-ever bull run.

Crude prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.