Asian stocks set to sink after historic U.S. oil rout
Asia shares were poised to track a Wall Street tumble on Tuesday after U.S. crude futures turned negative for the first time in history, crushed by a spectacular collapse in oil demand as the coronavirus pandemic derails the global economy.
WeWork directors defend right to represent shareholders against SoftBank
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
Virgin Australia enters voluntary administration with aim to recapitalise
Virgin Australia Holdings Ltd said on Tuesday it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load.
Exclusive: Brazil considers further flight cuts as coronavirus crisis bites
Brazil’s government is discussing with the country’s main airlines further reducing a minimal flight schedule implemented due to the coronavirus crisis as travel demand remains close to zero, three sources told Reuters.
U.S. crude futures up more than $20, but still trade below zero
U.S. crude oil jumped more than $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
U.S. energy industry steps up lobbying for Fed’s emergency aid: letters
The U.S. energy industry has asked the Federal Reserve to change the terms of a $600 billion lending facility so that oil and gas companies can use the funds to repay their ballooning debts, according to a letter seen by Reuters.
U.S. Senate sees possible Tuesday coronavirus vote, Pelosi said optimistic
The U.S. Congress inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with House Speaker Nancy Pelosi saying she expected an agreement on Monday as the Senate set a Tuesday session for a potential …
IBM sees shift in client spend priorities, withdraws annual forecast
International Business Machines Corp’s clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew its 2020 an…
GE enters into $15 billion loan agreement
General Electric Co entered into a revolving credit agreement for $15 billion, according to a regulatory filing on Monday.
Negative $40 oil reflects panic – and U.S. crude market economic reality
Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the mas…
