U.S. crude futures plunge to lowest on record on scant storage, weak demand
Oil prices tumbled on Monday, with the U.S. crude futures contract plunging more than 50% to the lowest price on record, as investors worried about lack of storage and German and Japanese data indicated a bleak global economy.
Volkswagen in Brazil to keep factories closed through April
Volkswagen AG said on Monday it will keep its factories in Brazil, South America’s top auto producer, shut through the end of the month, but that a decision has not been made on whether it will reopen them in May or later.
Vivendi shareholders approve dividend of 0.60 euro per share
Vivendi’s shareholders approved on Monday the payment of a dividend of 0.60 euro per share for the fiscal year 2019, with 99.52% of shareholder votes supporting the plan.
Atlantia unit eyes govt guarantee scheme to fight virus impact – sources
The motorway unit of Italian infrastructure group Atlantia is considering tapping government-backed liquidity to temper the impact of coronavirus on its business, two sources with knowledge of the matter said on Monday.
IMF’s Georgieva fears coronavirus impact on developing countries
Developing countries may be the hardest hit economically by the coronavirus, International Monetary Fund managing director Kristalina Georgieva said on Monday, adding the IMF stands ready to help.
S&P 500, Dow dip on oil price crash, earnings anxiety
The S&P 500 and the Dow Jones headed lower on Monday following a strong two-week rally as oil prices crashed and investors grew cautious at the start of a week that is likely to bring more dismal quarterly earnings reports and economic data.
U.S. restaurants seek more aid, on track to lose $240 billion by end of 2020
U.S. restaurants asked Congress for more financial aid on Monday to help weather the coronavirus crisis ravaging the industry, saying they are on track to lose $240 billion by the end of 2020.
HSBC cuts top investment bank jobs despite wider firing freeze
HSBC has cut a number of top management roles in its investment bank, memos seen by Reuters showed, a sign that Chief Executive Noel Quinn is pressing on with plans to shake up the group despite having put a wider job cut programme on hold.
Investor groups call for UK firms to provide a virtual AGM
Britain’s biggest listed companies have been urged to hold ‘virtual’ annual general meetings after two-thirds of the firms to announce meetings so far opted to hold them behind closed doors because of COVID-19.
U.S. crude futures plunge to 1986 low on scant storage, weak demand
Oil prices tumbled on Monday, with the U.S. crude futures contract plunging more than 40% to its lowest level since 1986, as investors worried about lack of storage and German and Japanese data indicated a bleak global economy.
