U.S. crude prices settled higher on Wednesday, bolstered by progress on a massive pending U.S. economic stimulus package, even as government data showed the coronavirus pandemic started undercutting U.S. fuel demand last week.
Delta Air Lines Inc and Air New Zealand Ltd said they would offer cargo charter services on passenger planes to boost revenue as the U.S. Senate neared a vote on a bill to give its carriers $58 billion in aid, including payroll support.
Asian stock markets made a cautious start on Thursday following two days of rallies, as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus.
Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.
Kat Volpe laid out an exercise mat and tried to sync her iPhone with her big screen TV for a fitness class webcast on Instagram last week during New York's coronavirus lockdown.
The ongoing volatility in the market has created a compelling buying opportunity for investors, Ariel Investment's John Rogers said.
Billionaire investor William Ackman, who hedged his Pershing Square Capital management portfolio weeks ago to guard against coronavirus-inspired panic selling, told investors his private hedge fund is making money this year, an investor said on Wednesday.
McDonald's Corp said on Wednesday it would temporarily remove some items from its U.S. menu as it focuses on simplifying operations in the face of the fast-spreading coronavirus outbreak.
SoftBank Group Corp's shares fell 8% in early trade on Thursday, ending a 55% rally in the stock, after Moody's downgraded the tech conglomerate's debt rating by two notches over plans to sell prime assets into a volatile market.
China and the United States are expected to call a timeout on their coronavirus blame game and focus on the challenges of the pandemic when leaders of the G20 nations hold talks via video conference on Thursday, the South China Morning Post said.
A two-day equities rally lost momentum on Thursday, and investors sold riskier currencies, as stimulus negotiations dragged on in Washington and investors fretted over a likely spike in U.S. jobless claims.
Airbnb Inc hosts in the United States could get some relief from a $2 trillion coronavirus stimulus bill that is nearing a vote in Congress, the home-rental startup said on Wednesday.
The U.S. Senate voted late Wednesday 96-0 to give the U.S. aviation industry $58 billion in aid, half in the form of grants earmarked to cover some 750,000 employees' paychecks, in a badly needed lifeline for an industry facing the worst travel downturn in history.
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Truckmaker AB Volvo said on Wednesday it had decided to postpone its annual shareholders meeting due to the prevailing uncertainty around the effects from the global coronavirus outbreak.