Wall Street ends trading week on a high note
Wall Street ended the trading week on a high note on Thursday as the U.S. Federal Reserve unleashed its latest program designed to buoy local governments and businesses crushed by moves to stem the coronavirus outbreak.
Oil slumps, investors say OPEC supply cuts won’t be enough
Oil prices slumped on Thursday, giving back an earlier 10% surge as investors doubted the emerging supply-cut agreement between members of OPEC and its allies would adequately address the global fuel demand collapse caused by the coronavirus pandemic.
Dollar drops after Fed launches new loan program, curbing safety bids
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus…
Caterpillar seeks $3 billion loan from banks to boost liquidity: Bloomberg
Caterpillar Inc is in talks with banks for a new $3 billion nine-month revolving credit facility, Bloomberg https://bloom.bg/34nIvAB reported on Thursday, citing people familiar with the matter.
Volkswagen furloughs workers at Tennessee auto plant starting April 11
Volkswagen AG said it will furlough workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.
Instant View: OPEC+ potential cuts won’t be enough to halt oil collapse – analysts
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
Fed, BoE push deeper into uncharted territory in face of coronavirus slump
The U.S. Federal Reserve and the Bank of England ramped up their emergency responses to the world’s escalating coronavirus recession on Thursday as they pushed deeper into territory once considered fraught with risk for central bankers.
Citigroup starts accepting paycheck protection program application
Citigroup Inc said on Thursday, that it has started accepting applications for the $349 billion small business bailout fund.
Air France KLM says it needs government support to continue operations
Air France KLM said that despite cost-cutting measures to stave off the impact of the coronavirus crisis, it expects it will be short of cash in the third quarter, but said it was confident that the French and Dutch governments would support the group….
BAT files patent suits against Philip Morris’ IQOS products
British American Tobacco said on Thursday that it sued Philip Morris International Inc in the United States and Germany, alleging that the tobacco heating technology used in its bigger rival’s IQOS devices infringed its patents.
