Asian shares turn mixed, oil rebounds in choppy trade
Asian stocks were mixed on Wednesday after two sessions of sharp gains as investors tempered their optimism about the coronavirus while death tolls were still mounting across the globe.
Pulp friction: Border jams delay supply of toilet paper’s only ingredient
As several European borders limit travel to stop the spread of COVID-19, two of the world’s biggest pulp makers say transportation logjams are delaying shipments of the raw material – the only ingredient in the toilet paper that people are hoarding to weather quarantines.
Wobbly U.S. fiscal response could deepen coronavirus recession
The U.S. government’s massive effort to nurse the economy through the coronavirus crisis was billed as a send-money-and-don’t-sweat-the-details flood of cash to people and businesses in a $22 trillion system that has ground to a halt.
Tesla to furlough workers, cut employee salaries due to coronavirus
Tesla Inc told employees on Tuesday it would furlough all non-essential workers and implement salary cuts during a shut down of its U.S. production facilities because of the coronavirus outbreak.
Australia’s Treasury Wine, to cope with virus, weighs Penfolds demerger, U.S. cutback
Australia’s Treasury Wine Estates Ltd said it may spin off the prestigious Penfolds label and shrink its low-end “commercial” division in the United States as it seeks ways to grow profit amid upheaval brought by the coronavirus crisis.
Asian shares turn cautious, oil rebounds in choppy trade
Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors tempered their optimism about the coronavirus while death tolls were still mounting across the globe.
Oil prices jump on hopes for OPEC, Russia meeting on output cuts
Oil bounced back on Wednesday, with U.S. crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.
Nissan’s China sales drop 44.9% in March due to virus
Japanese automaker Nissan said on Wednesday its sales in China fell 44.9% from a year earlier to 73,297 units in March, as the coronavirus epidemic continues to hit the world’s biggest car market.
Dollar creeps higher as virus worries return
The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.
Amazon to suspend delivery service competing with UPS, FedEx
Amazon.com Inc will suspend a delivery service that aims to compete with UPS and FedEx in the United States.
