Employees at Valero Energy Corp's Port Arthur, Texas, refinery expressed worries about the company's slow response to keep the coronavirus from spreading there after two workers tested positive, four people familiar with the matter said.
Oil rose on Tuesday amid hope that the world's biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and big production cuts will be needed.
Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
British cinema operator Cineworld said on Tuesday it has shut all its 787 cinemas across 10 countries due to the coronavirus pandemic and that it was in talks with its lenders for ongoing liquidity requirements.
Luckin Coffee's app has rocketed to become the second most popular in China as consumers rushed to claim a free drink that it has long offered for downloading, worried the chain might collapse after it said much of its sales last year were fabricated.
Any final agreement for how much OPEC and its allies, a group know as OPEC+, will cut during their talks on Thursday would depend on the volumes that other producers such as the United States, Canada and Brazil are willing to reduce, an OPEC source said on Tuesday.
World stock markets enjoyed a second day of sharp gains on Tuesday as signs of progress against the coronavirus in both Europe and the United States and more liberal helpings of stimulus kept investors charging back in.
U.S. stock index futures bounced for a second straight day on Tuesday as risk appetite returned on tentative signs that the coronavirus outbreak was starting to plateau in hard-hit U.S. states.
German carmaker Volkswagen hopes to partially reopen its plant in Spain's Navarra region on April 20 after its closure in mid-March due to the coronavirus outbreak, a spokesman for the plant said on Tuesday.
Oil prices clawed their way into positive territory on Tuesday as hopes that the world's biggest producers will agree to cut output outweighed analyst fears that a global recession in the wake of the coronavirus crisis could be deeper than expected.
The world's biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia.
The U.S. could finance its fight against the coronavirus by issuing $1 trillion in "war bonds."
Department store chain operator Macy's Inc said on Tuesday Chief Financial Officer Paula Price would step down from the role next month after nearly two years on the job.
Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital spending this year by $10 billion as the coronavirus pandemic saps energy demand and oil prices.
The lockdown of millions of people at home across the globe due to the coronavirus should have been the perfect recipe for success for the burgeoning online meal delivery market.