Instant View: Even big OPEC+ cuts won’t offset oil demand 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.
Pelosi pushes need for money for smallest U.S. businesses
U.S. House Speaker Nancy Pelosi said on Thursday the country’s smallest businesses need to be protected against the ravages of the coronavirus outbreak and pushed for $60 billion to be allocated to those enterprises in the next funding allocation.
U.S. jobless claims top 6 million for second straight week
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.
Explainer: What the Federal Reserve has done in the coronavirus crisis
The Federal Reserve has moved into overdrive to try to keep the U.S. economy from suffering lasting damage from the coronavirus pandemic, announcing an emergency interest rate cut on March 3 and rolling out new efforts almost weekly since, including sl…
A day in the life of an Amazon courier on the frontlines of the U.S. pandemic
Excelso Sabulao delivers groceries for Amazon.com Inc in California so he can help provide his parents an income. Now, with endless interactions at stores and at homes during a pandemic, he worries his work will kill them.
Fiat reaches deal with unions on measures for production restart in Italy
Fiat Chrysler reached a deal with unions on Thursday over measures to adopt in its Italian plants once the government eases restrictions on business activity put in place to contain the coronavirus outbreak.
Fed studying if new facility for small business loans might be opened to non-bank lenders
The Federal Reserve may expand a program to back Small Business Administration loans to include non-bank lenders as a way to help speed distribution of $350 billion in loans considered critical to helping the smallest firms through the coronavirus cris…
OPEC+ works on two-year oil cut deal, implemented gradually: sources
OPEC and its allies, a group known as OPEC+, are discussing plans to cut oil production for at least two years with reductions implemented gradually, two OPEC+ sources said on Thursday.
U.S. railroads push against oil industry demands for storage in rail cars
Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the number of places available to stockpile oil is rapidly dwindling.
Oil rises 4% as OPEC+ works on output cut deal
Oil prices gained nearly 4% on Thursday, but pulled back from an earlier surge as investors waited for details on negotiations between top producers hammering out an agreement for record supply cuts in response to the global fuel demand collapse due to…
