Oil gives up gains even as OPEC+ hammers out supply-cut deal
Oil prices dipped on Thursday, giving back an earlier 10% surge as investors awaited details on a massive OPEC supply-cut agreement in response to the global fuel demand collapse due to the coronavirus pandemic.
EasyJet to defer delivery of 24 Airbus planes, hold shareholder meeting
British airline easyJet on Thursday said it would defer the delivery of 24 Airbus jets and hold a shareholder meeting after the airline’s founder Stelios Haji-Ioannou stepped up a disagreement over the airline’s expansion plans.
Uber to give drivers millions of face masks to battle coronavirus
Uber Technologies Inc on Thursday said it plans to ship millions of face masks to its active drivers and food delivery people around the world to help prevent the spread of the novel coronavirus.
U.S. jobless claims exceed six million for second week in a row
A staggering 16.8 million Americans have filed for unemployment benefits in the last three weeks, with weekly new claims topping 6 million for the second straight time last week as the novel coronavirus outbreak relentlessly savages the economy.
Airbus’s landmark jet output cut faces crucial test
Airbus’s decision to cut output of its best-selling jet by a third amid coronavirus marks a huge shift for the European planemaker, which has enjoyed virtually unbroken growth since it began competing toe-to-toe with Boeing almost 20 years ago.
Explainer: Next from the Fed – Help for Main Street
The U.S. Federal Reserve responded fast to the coronavirus crisis with open-ended programs to keep financial markets running and ensure major companies could raise cash as they usually do through large capital markets.
Morgan Stanley CEO diagnosed with coronavirus in March, since recovered: bank video
Morgan Stanley Chief Executive Officer James Gorman was diagnosed as being infected by the novel coronavirus after first experiencing symptoms nearly a month ago and has fully recovered, according to a video that was sent to the bank’s employees on Th…
Saudi, Russia closing in on record oil cut deal
OPEC and it allies held talks on Thursday on record oil output curbs of about 15 million barrels per day (bpd) or more, roughly 15% of global supplies, to support prices hammered by the coronavirus crisis, sources involved in the discussions said.
Wall Street rises on Fed’s $2.3 trillion rescue plan
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak.
Russia’s Novak calls on all oil producers to join efforts
Russian Energy Minister Alexander Novak said on Thursday that all the leading global oil producers should join their efforts to tackle falling oil demand.
