Russian, Saudi ministers to chair OPEC+ meeting on Sunday: Azerbaijan
Russian Energy Minister Alexander Novak and Saudi Energy Minister Prince Abdulaziz bin Salman will chair an OPEC and non-OPEC online meeting later on Sunday, the Azerbaijan energy ministry said.
OPEC, allies to confer on Sunday to try to end standoff over cuts plan: sources
OPEC and its allies will hold a virtual meeting on Sunday evening in a bid to end a standoff that has prevented the finalisation of a global oil supply cut pact, six OPEC+ sources said.
Seen everywhere in last U.S. crisis, moral hazard is nowhere in this one
As the U.S. Federal Reserve rolls out trillions of dollars to blunt the economic fallout of the coronavirus pandemic, there’s a notable difference to the last financial crisis: close to zero concern over “moral hazard” – the sticky business of bailing …
Malaysia’s AirAsia founders not taking salary; staff accepts up to 75% pay cut
The founders of Malaysia’s AirAsia Group Bhd will not take salaries and its staff has agreed to an as much as 75% cut in pay due to the impact of the novel coronavirus outbreak on the airline, its chief executive said late on Saturday.
U.S. senators press Saudi officials to put oil cut in motion
(This April 11 story has been refiled to replace “boost” with “cut” in paragraph six.)
Airlines want U.S. Treasury to scrap proposal to make some grant money repayable
Major U.S. airlines were urging Treasury officials and the federal government’s outside advisers on Saturday to scrap or revise a proposal that would make part of the $25 billion earmarked by Congress to help keep workers on the payroll repayable in th…
Mexican president’s nationalist oil vision fuels standoff with Saudis
The biggest supply cut ever contemplated by the world’s top oil producers is hanging in the balance as a refusal by Mexico’s leftist leader to imperil his plans to rebuild state oil company Pemex has angered the Saudi prince who helped craft the deal.
Exclusive: Macy’s taps Lazard to bolster finances as coronavirus saps sales – sources
Macy’s Inc has hired investment bank Lazard Ltd to explore options for bolstering its finances after the department store operator lost most of its revenue as it shut down all its stores as a result of the coronavirus outbreak, people familiar with t…
Exclusive: JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens
JPMorgan Chase & Co , the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption.
U.S. senators hold call with Saudi officials urging them to put oil cut in motion
Republican U.S. senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from the kingdom and urged them to take concrete action to cut crude output….
