Delta to halve cash burn as it turns focus to choppy coronavirus recovery
Delta Air Lines Inc has taken steps to halve its cash burn to $50 million per day through June after posting its first quarterly loss in eight years, and is bracing for a two to three year recovery from the coronavirus pandemic.”We should be prepared …
U.S. securities regulator warns investors over Chinese company disclosures
The head of the U.S. securities regulator on Wednesday warned investors against putting money into Chinese companies as they rebalance their portfolios following market turmoil due to ongoing problems with those companies’ disclosures.
Whether OPEC+ formally agrees, deeper oil cuts now look inevitable
Whether or not OPEC+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisis may force them to cut more.
AT&T pulls 2020 financial forecast as coronavirus clouds business
AT&T Inc pulled its financial forecast for the year on Wednesday as the impact of the coronavirus pandemic clouded its view for the foreseeable future.
Brent crude rises after coronavirus drags it to lowest since 1999
Brent crude oil sank below $16 a barrel to its lowest since 1999 on Wednesday, before recovering slightly on the prospect of extra pledges to cut output in addition to a pact by major producers to limit supplies.
Virus outbreak raises spectre of cash injection for indebted EDF
Plummeting electricity demand and falling power prices during the coronavirus outbreak could leave EDF in need of a capital injection by the end of 2020 to avoid a spiralling debt crisis, a source close to the French firm and analysts said.
Saudi Arabia may re-route tankers if U.S. imposes crude import ban: sources
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.
Air France-KLM nears bailout with improved guarantees: sources
Air France-KLM is moving towards a 10 billion euro ($10.9 billion) government-backed rescue deal, sources said, after France agreed to higher guarantees on loans designed to tide the airline group through the coronavirus crisis.
Netflix to raise $1 billion to fund new shows
Netflix Inc said on Wednesday it plans to raise about $1 billion in debt, a day after the streaming pioneer doubled its own projections for new customers as stuck-at-home users binged on original shows.
Jump in oil sends global equities higher; bonds dip
A jump in the price of oil and the promise of more government stimulus to ease the economic pain inflicted by the coronavirus pandemic helped global equity markets surge on Wednesday, prompting investors to edge out of perceived safe-haven assets like …
