Corporate America seeks legal protection for when coronavirus lockdowns lift
Major U.S. business lobbying groups are asking Congress to pass measures that would protect companies large and small from coronavirus-related lawsuits when states start to lift pandemic restrictions and businesses begin to reopen.
Oil crash hits stocks, dollar gains as investors shun risk
Global stocks fell on Tuesday, a day after U.S. crude oil prices turned negative for the first time, as dismal company earnings reports underlined worries about economic damage from the coronavirus pandemic.
South Korea state banks to provide up to $1.4 billion liquidity to Asiana Airlines
South Korea’s two state-owned banks said on Tuesday they had together decided to provide up to 1.7 trillion won ($1.38 billion) in fresh liquidity to Asiana Airlines which is struggling with the impact of the coronavirus.
U.S. oil futures plumb historic lows below zero
U.S. oil futures traded in negative territory on Tuesday, after sinking nearly $40 the previous session in their first ever dive below zero, as concern grew the sector will run out of storage for a glut caused by the coronavirus lockdown.
Huawei first-quarter revenue growth slows sharply amid U.S. ban, virus headwinds
Huawei Technologies’ revenue growth slowed sharply in the first quarter but the world’s top telecoms equipment supplier labeled the performance as “resilient” in light of pressure from the United States and the impact of the COVID-19 pandemic.
California regulator wants changes in PG&E reorganization plan, proposes $2 billion fine
A California regulator has asked PG&E Corp for governance and oversight changes in its reorganization plan, while also proposing penalties of about $2 billion on the San-Francisco based utility for its role in causing the devastating 2017 and 2018 wildfires in California.
Daimler teams up with Volvo Trucks in fuel cell venture
Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation.
U.S. crude futures turn positive after historic plunge, Brent falls
U.S. oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude.
Analyst View: After U.S. oil futures crash, what next?
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
Remember the 1980s glut: Ex-BP boss Browne warns oil will stay low
The oil price will stay low for some time as supply exceeds demand and the current situation on global oil markets is reminiscent of the 1980s oil glut, former BP boss John Browne said on Tuesday.
