OPEC chief says oil market responding well to record OPEC+ cut
OPEC is encouraged by a rally in oil prices and strong adherence to its latest output cut, its secretary general said, although sources say the group has not ruled out further steps to support the market.
France wants Renault to maintain its French plants: PM
The French government will insist on preserving Renault production plants in France and wants it to remain the group’s global centre for engineering, research, innovation and development, Prime Minister Edouard Philippe said on Wednesday.
U.S. airlines step up safety measures in preparation for recovery
U.S. carriers JetBlue Airways Corp and United Airlines Holdings Inc announced fresh safety measures on Wednesday aimed at restoring confidence in air travel as several executives pointed to signs domestic demand is improving.
Global stocks surge to 10-week high on recovery hopes
Global stocks rose to a 10-week high on Wednesday as investors regained hopes of recovery from a coronavirus-fuelled recession, while oil prices also strengthened.
Britain ready to support Rolls-Royce employees over job cuts
Britain’s government stands ready to help those affected by a plan at engine maker Rolls-Royce to cut at least 9,000 jobs, a spokesman for Prime Minister Boris Johnson said on Wednesday.
Wall Street opens higher on hopes of economic recovery
U.S. stocks jumped more than 1% at the open on Wednesday on upbeat quarterly earnings reports from retailers and hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors.
U.S. Senator Rubio sees consensus for extending paycheck loan program
There appears to be agreement in Washington to give companies more time to utilize their coronavirus aid under the Paycheck Protection Program, the head of the U.S. Senate’s small business committee said on Wednesday.
Unions say Ryanair exaggerating COVID threat to undermine conditions
Several Ryanair trade unions say they will resist an attempt to cut pay and conditions for a five-year period, citing management promises of a swift recovery from the coronavirus crisis and the fact its CEO has committed to a pay cut for just one year….
U.S. arrests two men wanted by Japan over former Nissan boss Carlos Ghosn’s escape
U.S. authorities on Wednesday arrested a former Special Forces soldier and another man wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country.
Nestle to build new plant-based food facility in China under $100 million investment plan
Food giant Nestle said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.
