GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices, including during the coronavirus pandemic.
The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said.
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd) for May and June in an effort to prop up oil prices as the coronavirus outbreak slashes fuel demand.
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
As lockdowns worldwide drive a surge in internet use, boosting online sales for businesses as varied as gaming and food delivery, the stocks of internet providers are an unlikely laggard on global markets.
Oil prices rose on Tuesday after a U.S. agency said shale output in the world's biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
Asian stocks bounced on Tuesday on hopes the coronavirus outbreak may be peaking, though sentiment was cautious ahead of Chinese trade data and corporate earnings as investors worried about a deep global recession.
The founders of Malaysia's AirAsia Group Bhd will not take salaries and its staff has agreed to an as much as 75% cut in pay due to the impact of the novel coronavirus outbreak on the airline, its chief executive said late on Saturday.
As the U.S. Federal Reserve rolls out trillions of dollars to blunt the economic fallout of the coronavirus pandemic, there's a notable difference to the last financial crisis: close to zero concern over "moral hazard" - the sticky business of bailing out those whose dilemma is of their own making.
OPEC and its allies will hold a virtual meeting on Sunday evening in a bid to end a standoff that has prevented the finalisation of a global oil supply cut pact, six OPEC+ sources said.
As markets careeen amid coronavirus-fueled economic volatility, financial advisors are at the eye of the storm. We asked five members of the CNBC Financial Advisor Council what they're telling clients, whether they're helping them reallocate and how the downturn is impacting their own fortunes.
Russian Energy Minister Alexander Novak and Saudi Energy Minister Prince Abdulaziz bin Salman will chair an OPEC and non-OPEC online meeting later on Sunday, the Azerbaijan energy ministry said.
Smithfield Foods, the world's biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among employees and warned the country was moving "perilously close to the edge" in supplies for grocers.
OPEC, Russia and other oil producing nations were meeting on Sunday in a bid to clinch a deal on the biggest oil cut ever, amounting to 10 percent of global supply, after their initial efforts to support oil prices amid the coronavirus pandemic were blocked by Mexico.
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic.