Asian shares were hauled higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers gearing up in support as the sector that employs nearly 1 million people seeks to recover from the coronavirus pandemic.
U.S. lawmakers and officials are crafting proposals to push American companies to move operations or key suppliers out of China that include tax breaks, new rules, and carefully structured subsidies.
Unemployment checks are flowing, $490 billion has been shipped to small businesses, and the U.S. Federal Reserve has put about $2.5 trillion and counting behind domestic and global markets.
Japan's economy slipped into recession for the first time in 4-1/2 years in the last quarter, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.
Oil prices climbed by more than $1 a barrel on Monday, supported by output cuts and signs of gradual demand recovery amid easing coronavirus curbs, with U.S. oil showing no signs of last month's contract expiry price rout.
The Trump administration has ended a two-year rent holiday for solar and wind projects operating on federal lands, handing them whopping retroactive bills at a time the industry is struggling with the fallout of the coronavirus outbreak, according to company officials.
Taiwan Semiconductor Manufacturing Co Ltd has stopped new orders from Huawei Technologies [HWT.UL] in response to Washington's move aimed at further limiting chip supplies to the Chinese company, the Nikkei reported on Monday, citing multiple sources.
SoftBank Group Corp on Monday reported a record 1.4 trillion yen ($13 billion) operating loss in the April-March financial year as the value of its tech bets via the $100 billion Vision Fund crumbled.
Total has called off plans to acquire Occidental Petroleum's assets in Ghana, the French energy company said on Monday.
Japan's SoftBank Group Corp on Monday reported an annual 1.9 trillion yen ($18 billion) operating loss at its gargantuan Vision Fund, as its tech bets slid below cost, pushing the group to its largest-ever loss.
Japan's Panasonic Corp posted on Monday a 29% drop in annual operating profit amid the coronavirus outbreak but said its battery cells joint venture with major customer Tesla Inc logged a second straight quarterly profit.
Asian shares stepped ahead on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
Oil prices climbed by more than $1 a barrel on Monday, supported by output cuts and signs of a gradual recovery in demand amid easing coronavirus curbs, with U.S. oil showing no signs of last month's contract expiry price rout.
European stock markets rose on Monday and oil prices climbed to their highest in more than a month as a loosening of coronavirus shutdowns boosted market sentiment, even as the deadly outbreak has yet to be fully contained.