For SoftBank’s Son, coronavirus turns vision to illusion
SoftBank Group Corp founder Masayoshi Son’s dream of a global tech empire is unravelling, with the coronavirus crisis compounding losses at his $100 billion Vision Fund and distress at his big bets portending more pain.
Kia Motors to halt operations at two domestic factories on some days in April, May: union
South Korean automaker Kia Motors plans to suspend operations at two of its domestic factories from April 27 to May 10 and again between May 22 to 25, a union official said on Thursday.
Detroit automakers, UAW to continue talks over reopening U.S. plants
The United Auto Workers (UAW) said late Wednesday discussions are still underway with Detroit’s Big Three automakers to safely restart U.S. production halted by the coronavirus pandemic.
Dollar up against commodity currencies but oil rebound tempers safety bid
The dollar edged higher against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.
Oil rises for second day as producers trim output to respond to demand loss
Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world’s economies.
Asia stocks pull ahead on U.S. stimulus, oil rebound
Asian stock markets rose on Thursday as the combination of a rebound in crude prices from historic lows and the promise of more U.S. government aid to cushion the coronavirus-ravaged economy helped calm nervous markets.
Dollar edges higher against oil currencies as energy markets shaken
The dollar pushed ahead against the currencies of oil producers on Thursday as a rebound in crude prices from an unprecedented collapse only partially calmed markets unnerved by the massive coronavirus-led drop in global demand.
Nissan, partners to draft deeper alliance in May: Yomiuri
Nissan Motor Co , Renault SA and Mitsubishi Motors Corp will draft plans for a deeper alliance next month, including joint development of more electric vehicles (EVs) and self-driving technology, the Yomiuri daily reported.
Saudi Arabia may re-route tankers if U.S. imposes crude import ban, sources say
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.
China on slow road to recovery, but recession risk is high: Reuters poll
The Chinese economy will slowly recover from its first quarterly contraction since current records began, economists predicted in a Reuters poll, but they warned of a likely recession if conditions worsen again from the global coronavirus pandemic.
