Oil mixed as demand worries offset gains from output cut deal
Oil prices were mixed on Monday, as the historic production-cut deal inked by major global oil producers was not enough to assuage existing worries about the demand destruction brought on by the coronavirus pandemic.
U.S. government holding firm on airline aid plan, could end up with 3% of American Airlines
The U.S. Treasury Department is holding firm on the terms of a $25 billion offer for government aid to airlines to help them meet payroll during the coronavirus downturn, officials said on Monday, and the plan could give the government more than 3% of …
GE offers to buy back at least $9 billion in debt, plans new longer-maturities issue
General Electric Co offered on Monday to buy back at least $9 billion in debt as part of a plan to cut its financial risk and manage liquidity in response to the downturn in business caused by the coronavirus pandemic.
Ford making masks to protect workers against COVID-19
Ford Motor Co said on Monday it is producing face masks at a Michigan plant to protect its workers from the coronavirus pandemic and is seeking to have those masks certified for medical use.
McDonald’s faces class action over ‘pervasive sexual harassment’
McDonald’s Corp has been hit with a class action lawsuit accusing it of subjecting female employees in its corporate-owned fast-food restaurants in Florida to widespread sexual harassment.
Oil prices up 2% after output cut, but demand worries weigh
Oil prices gained 2% on Monday following a record deal among oil producers to cut the rapid rise in supply, a muted impact on the market as the coronavirus pandemic hammers demand.
Factbox: Spread of coronavirus closes North American meat plants
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus among employees and concerns about its spread.
Athene pays $45 million fine in first settlement of New York pension transfer probe
Athene Holding Ltd agreed on Monday to pay a $45 million civil fine to settle charges it conducted insurance business in New York without a license, the first settlement in a probe into an industry where life insurers take over corporate pension plans….
Trump: It’s my decision when to reopen U.S. economy
President Donald Trump said on Monday it was his decision when to reopen the U.S. economy, not that of state governors, but legal experts disagree and governors are going their own way.
Crude gains on output deal, shares slip on recession fears
Stocks on Wall Street slid while crude prices edged higher on Monday as a global deal on record output cuts failed to quell concerns on whether the pact is enough to head off an oil glut as the coronavirus pandemic hammers economies worldwide.
