Occidental Petroleum Corp on Tuesday swung to a first quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash.
U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.
Global stocks and crude prices were set to extend gains in Asia on Wednesday on confidence that government steps to restart economies will bring back growth and demand for oil.
U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.
Tyson Foods Inc will resume limited production at its largest U.S. pork plant this week, the company said late on Tuesday.
Shares struggled and the yen gained on Wednesday, with markets in China faltering on their return from a long holiday as investors fretted over Sino-U.S. tensions, while oil ended an extended winning streak on oversupply risks amid weak demand.
Walt Disney Co. will kick off its strategy next week to begin restoring its lucrative parks business that has suffered $1 billion in lost profits from the coronavirus-led shutdown.
Walt Disney Co's acquisitions spree that included swallowing much of Rupert Murdoch's 21st Century Fox last year, and a reputation for operational excellence, turned the company into the world's most powerful entertainment machine.
Ferrari said on Monday it had cut its core profit estimates for the year to reflect the impact of the coronavirus crisis, expected to mainly affect second quarter results.
Oil executive Bill Kent was with fellow managers in the Colorado board room of Resource Energy headquarters on April 20 when benchmark U.S. crude prices collapsed to minus $37 a barrel. Sitting six feet apart because of the coronavirus, they knew the pandemic was not only a personal matter.
Airline shares were headed for another day of sharp declines after Warren Buffett over the weekend said Berkshire Hathaway's cashed out of its stakes in the four largest carriers.
Texas auto dealer Hayden Elder says March was his worst month in 42 years selling cars thanks to the coronavirus, but April brought days that were "almost normal" and he expects bigger customer discounts to help him sell more Dodge Ram pickup trucks this month.
European stock markets and oil prices fell on Monday as a spat between top U.S. officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets.
After growing rapidly to become Europe's third-largest low-cost airline and one of the few to apply the budget model to transatlantic flights, Norwegian Air is fighting for its survival after racking up debts and liabilities of close to $8 billion by the end of 2019.
U.S. stock index futures slid on Monday on growing tensions between Washington and Beijing over the origin of the novel coronavirus.