Airbus Chief Executive Guillaume Faury has told the European planemaker's 135,000 staff to brace for potentially deeper job cuts after warning its survival is at stake without immediate action to save cash amid the coronavirus crisis.
U.S. oil futures dipped in electronic trading Sunday evening, extending losses from last week that marked the eighth week of losses out of the last nine.
If refineries ultimately don't want oil, it has little to no value. If you have oil and nowhere to put it, it can have negative value.
Investors are pinning their hopes for the reopening of the U.S. economy on the potential for wider availability of testing for COVID-19 cases and on drug trials for treatments of the deadly disease but said, until there is concrete progress in these areas, further stock market gains may be limited.
Amazon.com Inc is piloting the use of video conference calls to verify the identity of merchants who wish to sell goods on its websites, in a new plan to counter fraud without in-person meetings in the pandemic, the company said on Sunday.
Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps.
European planemaker Airbus issued a bleak assessment of the impact of the coronavirus crisis, telling the company's 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.
Starbucks on Monday said it has entered a strategic partnership with investment firm Sequoia Capital China that will see the two companies make strategic co-investments in China's technology sector.
An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb's hedge fund Third Point LLC plans to challenge a $600 million financing package that Neiman Marcus Group has lined up for its looming bankruptcy, and will push the U.S. department store operator to sell itself, people familiar with the matter said on Sunday.
The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it all.
Two proxy advisers, Glass Lewis and Institutional Shareholder Services (ISS), have recommended that shareholders of Boeing Co vote against key board members of the planemaker to show objections to the company's handling of the 737 Max crisis.
Japan Airlines Co is discussing the possibility of securing financing totaling $2.8 billion from its lenders to cushion the financial blow of the coronavirus outbreak, public broadcaster NHK said on Saturday.
President Donald Trump on Friday threatened to block federal aid for the U.S. Postal Service unless it raises shipping rates for online companies like Amazon.com, prompting criticism that the move would hurt consumers relying more than usual on packages during the coronavirus outbreak.