Wall Street pares gains on report of potential coronavirus drug failing trial
Wall Street’s main indexes pared gains sharply on Thursday, after a report that Gilead Sciences experimental coronavirus drug flopped in its first randomized clinical trial.
Rome to take full control of Alitalia in June: minister
The Italian government will take full control of Alitalia [CAITLA.UL] in June, Industry Minister Stefano Patuanelli said on Thursday, adding the airline would have gone bust due to the coronavirus crisis otherwise.
Millions of Americans join unemployment line as coronavirus savages economy
A stunning 26.5 million Americans have sought unemployment benefits since mid-March, confirming that all the jobs gained during the longest employment boom in U.S. history have been wiped out as the novel coronavirus savages the economy.
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads while engulfed in the worst crisis the oil industry has faced.
Exclusive: Argentina plans higher local oil price to protect sector amid rout – sources
Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by a collapse in global prices and slumping fuel demand due to the coronavirus pandemic, two industry sources told R…
Oil rallies on acceleration of output cuts from OPEC nations
Oil soared on Thursday, extending its rebound after major oil-producing nations said they would accelerate planned production cuts to combat the dramatic slump in demand due to the COVID-19 pandemic.
Equities climb on oil price rebound, stimulus hopes
World stock markets climbed on Thursday as investors weighed a rebound in oil prices and prospects for further government stimulus against stark economic data showing the toll of the coronavirus pandemic.
Honda extends North America auto production halt through May 8
Honda Motor Co said on Thursday it will extend a shutdown of its North American auto plants by one week through May 8, while also extending unpaid leave for many salaried workers during the coronavirus pandemic.
South African Airways faces wind-down or liquidation as cash runs out
South African Airways (SAA) faces a wind-down or liquidation after specialists appointed to try to save the state-owned airline said on Thursday they had run out of funds.
Eli Lilly lifts 2020 profit forecast; coronavirus fuels stockpiling of its medicines
Eli Lilly and Co raised the top-end of its 2020 profit forecast on Thursday and reported better-than-expected quarterly results, as customers stocking up medicines such as diabetes drug Trulicity during the coronavirus pandemic boosted sales.
