Advertisers shun coronavirus coverage, hastening news media battle for survival
From Rupert Murdoch’s News UK to McClatchy’s chain of local newspapers across the United States, news publishers are attracting record numbers of readers as people in lockdown seek information about the coronavirus pandemic.
Oil prices rise on optimism OPEC+ meeting will result in supply cut
Oil prices rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.
California developer says virus an act of God, sues Exxon over stalled deal
A California retail developer claims the state’s coronavirus lockdown was an act of God that prevented it from completing a $4.2 million property acquisition, asking a court to prevent owner Exxon Mobil Corp from selling to any other buyers.
U.S. weekly jobless claims seen hovering near record highs
The number of Americans seeking unemployment benefits in the last three weeks likely totaled a staggering 15 million as tough measures to control the novel coronavirus outbreak abruptly ground the country to halt, which would cement views the economy w…
UBS and Credit Suisse to partially postpone dividend payout
UBS and Credit Suisse have decided to pay out part of their dividend for 2019 later this year after financial markets watchdog FINMA criticised the Swiss banks’ decision to maintain a full payout during the coronavirus crisis.
Swiss financial watchdog welcomes UBS’ and Credit Suisse’s dividend decisions
Swiss financial watchdog Finma said on Thursday it welcomed a decision by UBS and Credit Suisse to pay out half of their dividends for 2019 in the fourth quarter of 2020 despite their strong capital decisions.
Commodity currencies hold firm on hopes of pandemic peak, oil output cut
Commodity currencies drew support on Thursday from hopeful signs the coronavirus pandemic may be peaking and that major oil producers may agree to cut output to stem a plunge in oil prices.
Asian stocks gain on hopes pandemic is approaching peak
Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices.
Exxon used economic uncertainty to push for Paulsboro, N.J., contract: sources
Exxon Mobil Corp used economic uncertainty tied to the coronavirus pandemic to urge workers at its lubricants and packaging plant in Paulsboro, New Jersey, to vote for a proposed contract, according to two sources familiar with the matter.
Mexican president lashes out at companies over layoffs, taxes as big business seethes
Mexico’s president threw himself into a new confrontation with businesses on Wednesday, accusing big companies of not paying taxes and upbraiding others for laying off workers during the coronavirus crisis.
