Asian shares inch higher, new wave of infections a worry
Asian shares followed Wall Street higher on Monday as investors looked ahead to more countries restarting their economies, even as some reported an unwelcome pick up in new coronavirus cases.
Debt-stricken Chesapeake Energy to advance incentive executive pay
Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile.
Oil prices fall 1% as glut weighs
Oil prices opened about 1% lower on Sunday as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even as some governments began to ease lockdowns.
Washington in talks with chipmakers about building U.S. factories
The Trump administration is in talks with semiconductor companies about building chip factories in the United States, representatives from two chipmakers said on Sunday.
White House considers more coronavirus aid as jobs picture worsens
The White House has begun informal talks with Republicans and Democrats in Congress about what to include in another round of coronavirus relief legislation, officials said on Sunday, while predicting further U.S. jobs losses in the coming months.
EU could open legal case against Germany over ECB bond-purchases ruling: Commission
The European Commission could open a legal case against Germany over a ruling by the country’s constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday.
Germany’s Altmaier opposes active state role at Lufthansa
Germany is working on a “concrete model” to aid Lufthansa, Economy Minister Peter Altmaier said on Sunday, amid a political row over whether the state should take a strategic shareholding and play an active role in the stricken airline.
White House considers more coronavirus stimulus, with conditions: officials
The White House has started informal talks with Republicans and Democrats in Congress about next steps on coronavirus relief legislation, officials said on Sunday, but they stressed any new federal money would come with conditions.
EU could open legal case again Germany over ECB bond-purchases ruling: Commission
The European Commission could open a legal case against Germany over a ruling by the country’s constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday.
U.S. unemployment rate will get worse, Treasury’s Mnuchin says
The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday.
