Oil prices rebounded on Tuesday, with U.S. crude turning positive after trading below $0 for the first time ever, but gains were capped amid unresolved concerns about how the market can cope with fuel demand decimated by the coronavirus pandemic.
U.S. House Speaker Nancy Pelosi said on Monday Republican and Democratic negotiators have come to terms on the "principles" of the next coronavirus relief package, which is expected to focus on more aid for small businesses and be taken up in the U.S. Congress this week.
Starbucks Corp said on Monday it would roll out a new plant-based lunch menu in China this week, launching Beyond Meat Inc's products in a country where it is trying to recover from the novel coronavirus pandemic-led shutdown.
Oakley and Ray-Ban maker EssilorLuxottica said on Monday it would scrap its dividend and might also consider cost cuts as the coronavirus pandemic chokes its business.
Caution gripped Asian share markets on Monday amid expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while a glut of supply sent U.S. crude spiraling to 20-year lows.
Crude oil futures fell on Monday, with U.S. futures dropping more than 10% to levels unseen since 1999 amid concerns that U.S. storage facilities will soon be brimful with demand evaporating due to the coronavirus pandemic.
Caution gripped Asian share markets on Monday amid expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdowns, while a glut of supply sent U.S. crude spiraling to 20-year lows.
Oil prices fell on Monday, depressed by concerns U.S. storage facilities will soon be full as the novel coronavirus pandemic destroys demand and as companies prepare to report their worst quarterly earnings since the 2008 financial crisis.
China's Citic Securities Co. , has hired Charles Lin, the former Asia head of Vanguard Group, to be vice chairman of Hong Kong unit CLSA, as the biggest Chinese securities company seeks to build up an international presence.
Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Poland's national airline LOT pulled out of a deal to buy the airline, two people close to the matter said on Monday.
Virgin Atlantic will only survive the coronavirus outbreak if it gets financial support from the British government, the airline's founder Richard Branson said on Monday.
Virgin Australia Holdings is poised to enter voluntary administration, local media reported on Monday, with the cash-strapped airline unable to weather the coronavirus crisis because of its A$5 billion ($3.2 billion) of debt.
Caution recaptured world markets on Monday as another drubbing for U.S. crude oil futures kicked off a week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns.
Danske Bank's board of director will propose that no dividends be paid for 2019, it said in a statement on Monday.
Fashion retailer Primark has committed to pay suppliers for 370 million pounds ($461 million) of orders, though all its stores are closed due to the coronavirus pandemic.