Oil lower on U.S.-China tensions but heads for huge monthly rise
Oil prices eased on Friday on fears of worsening Washington-Beijing relations and lacklustre U.S. fuel demand, but were still headed for sharp monthly gains.
Ryanair’s Lauda airline shuts down Vienna base
Ryanair’s Austrian carrier Lauda said on Friday it was closing down its Vienna base after failing to reach an agreement with unions on pay, and had already relocated many of its 15 planes to other bases.
U.S. consumer spending tanks; savings hit record high
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.
Exclusive: Brazil’s Embraer draws foreign interest after Boeing rift – sources
Aircraft makers are circling Brazil’s Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said.
Oil falls but still set for biggest monthly gain in years
Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a hefty monthly gain.
S&P 500, Dow dip on jitters over Trump’s China response
The S&P 500 and Dow slipped on Friday as investors were nervous ahead of a U.S. response to China’s national security law on Hong Kong that threatens to take the shine off another month of strong gains for the stock market.
Take Five: Hong Kong takes center stage
China just concluded its closed-door annual meeting of parliament, the National People’s Congress (NPC), with top officials making clear that employment is the top priority.
OPEC delivers three quarters of record oil cut in May: survey
OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.
Uber launches hourly ride booking option in some U.S. cities
Uber Technologies Inc on Friday said it would offer rides by the hour in some U.S. cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic.
Renault factory worker spared layoffs – for now
Giovanni Pili, a worker at a Renault factory in France, was on Friday savoring the fact that he was not laid off in a global shakeup at the carmaker, and trying not to think too much about the uncertain future facing his plant, and his industry.
