Oil futures higher on production cut hopes as inventory build limits gains
Crude prices edged up on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement, but surging U.S. crude inventories muted the gains.
Crude prices edged up on Wednesday, buoyed by hopes that OPEC and its allies will strike a production cut agreement, but surging U.S. crude inventories muted the gains.
The U.S Justice Department on Wednesday recommended U.S. regulators approve Alphabet Inc unit Google's request to use part of an U.S.-Asia undersea telecommunications cable after the company warned it would face significantly higher prices to carry traffic by other means.
The forced closure of businesses across the United States and surge in unemployment due to the coronavirus pandemic will force U.S. growth to contract by 30% in the second quarter and 5% overall in 2020, Pacific Investment Management Co (PIMCO) wrote on Wednesday.
The government's $350 billion program to help ailing businesses took an important step forward on Wednesday, with the launch of a new system that will allow hundreds of new lenders to participate in the unprecedented scheme.
OPEC members and other oil producers need to cut at least 20 million barrels per day of output, a Texas oil and gas regulator said on Wednesday.
Billionaire Mark Cuban joined CNBC's "Closing Bell" on Wednesday.
With fewer people on the road, auto insurers are offering customers discounts. Consumer advocates say they could be doing more.
U.S. Treasury officials have asked airlines seeking government payroll support to provide additional detailed information on capital structure, liquidity and loyalty programs, people briefed on the matter told Reuters.
Lufthansa will seek state aid in Germany, Switzerland, Belgium and Austria as the coronavirus crisis that forced it to ground almost all of its planes will persist longer than feared, the German airline's chief executive said.
Delays are heightening anxiety and confusion about a cornerstone of the Trump administration's $2 trillion response to the coronavirus crisis.
U.S. stock markets jumped on Wednesday on hopeful signs about the coronavirus outbreak in the United States was close to a peak, with health insurers getting an additional lift from Bernie Sanders' decision to suspend his presidential campaign.
Major U.S. insurers are offering credit to auto and motorcycle policyholders following a decline in driving, as most Americans stay at home to help contain the spread of the novel coronavirus.
Airbus announced plans on Wednesday to cut jetliner production across the board after the coronavirus epidemic triggered aviation's worst industrial crisis and drastically reduced deliveries to cash-starved airlines.
The Fed had imposed the restrictions following the bank's fake account scandal in which it created millions of accounts for customers without their knowledge.
Starbucks Corp said on Wednesday the financial hit from the coronavirus pandemic would extend into the final quarter of 2020, but added that it had no plans to cut its quarterly dividend.