Asia shares jump but pandemic hangs heavy over outlook
Asian stocks bounced on Tuesday on hopes the coronavirus outbreak may be peaking, though sentiment was cautious ahead of Chinese trade data and corporate earnings as investors worried about a deep global recession.
SoftBank shares fall 3.5% after flagging first financial year loss in 15 years
SoftBank Group Corp shares fell 3.5% on Tuesday morning after estimating the Vision Fund will record a 1.8 trillion yen ($16.73 billion) loss in the year ended March due to the tumbling value of bets on unproven startups.
Oil gains as U.S. shale production set to fall sharply
Oil prices rose on Tuesday after a U.S. agency said shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
British American Tobacco under criminal probe by U.S. regulators: The Times
Lucky Strike cigarette maker British American Tobacco is under criminal investigation by U.S. regulators over suspected sanctions-busting, The Times reported https://bit.ly/2ydR5Wm on Tuesday.
Asia shares seen higher but economic woes may cap gains
Asian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global economy for months are likely to temper investor confidence.
SoftBank shares untraded after estimating historic loss
SoftBank Group Corp shares were untraded with a glut of sell orders on Tuesday morning after estimating the Vision Fund will record a 1.8 trillion yen ($16.73 billion) loss in the year ended March due to faltering bets on unproven startups.
U.S. airlines nearing acceptance of payroll aid plan: sources
Some large U.S. passenger airlines are close to accepting the terms of a $25 billion offer for government coronavirus payroll aid, with announcements possible as early as Tuesday, people briefed on the matter said.
Grubhub, DoorDash, Postmates, Uber Eats are sued over restaurant prices amid pandemic
GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices, including during the coronavirus pandemic.
Factbox: Non OPEC+ crude oil supply cuts
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd) for May and June in an effort to prop up oil prices as the coronavirus outbreak slashes fuel de…
Record oil output cuts fail to make waves in coronavirus-hit market
The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said.
