Traders hightail it out of U.S. oil contract as prices reach negative $40
Traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place t…
With Congress feuding, a small business deal seems elusive
U.S. Democrats and Republicans in Congress feuded on Monday over who was responsible for delay even as they worked on details of a possible $450 billion-plus deal to provide more aid to small businesses and hospitals hurt by the coronavirus pandemic.
Business groups welcome limited delays in U.S. tariffs, say more relief needed
U.S. retailers and other business groups on Monday welcomed a move by the Trump administration to allow importers to defer for three months any tariff payments they owe the government, but said they needed more tariff relief to deal with the pandemic.
Traders play ‘hot potato’ with U.S. oil contract as it crashes to $1 a barrel
Energy traders bailed out of the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract to a record of almost $1 a barrel, as few buyers are willing to take delivery of actual physical barrels of oil because there is no plac…
United Airlines sees $2.1 billion loss as coronavirus hits Latin America growth hopes, seeks more federal aid
United Airlines said on Monday it expects to report a pre-tax loss of about $2.1 billion for the first quarter, after the coronavirus outbreak smothered its growth aspirations in Latin America and led the company to seek another $4.5 billion in govern…
U.S. senators propose $500 billion rescue for state, local governments
A U.S. Senate Republican and a Democrat proposed a $500 billion rescue package for state and municipal governments on Monday, as it became increasingly clear that the next coronavirus relief bill will not include money for reeling local authorities.
Traders play ‘hot potato’ with U.S. oil contract as it crashes to $5 a barrel
Energy traders bailed out of the expiring May U.S. oil futures contract in a frenzy on Monday, as the contract dropped by more than 70% to less than $5 a barrel and opening the widest gap ever between it and the next contract with storage rapidly filli…
Carrefour halves dividend due to coronavirus outbreak
Carrefour , Europe’s largest retailer, said on Monday it was halving its 2019 dividend to 0.23 euros per share and that CEO Alexandre Bompard would waive 25% of his fixed salary for a period of two months due to the coronavirus outbreak.
SunPower idles factories as coronavirus hits solar demand
U.S. solar panel maker SunPower Corp on Monday said it had temporarily stopped production at all of its factories in five countries as the coronavirus outbreak ravages demand for its products.
Traders play ‘hot potato’ with U.S. oil contract as it crashes 50%
Energy traders bailed out of the expiring May U.S. oil futures contract in a frenzy on Monday, as the contract dropped by more than 50% to less than $8 a barrel and opening the widest gap ever between it and the next contract with storage rapidly filli…
