Wall Street gains on hopes of coronavirus slowdown
Wall Street rose on Tuesday on early signs of the coronavirus outbreak plateauing in some of the biggest U.S. hot spots, with the New York governor saying social distancing measures to curtail the spread of the virus were working.
Lufthansa to discontinue Germanwings in sweeping restructuring
Lufthansa will close its Germanwings low-cost airline as part of a broader overhaul including capacity cuts across the group, it said on Tuesday as it warned it could take years for the industry to recover from the coronavirus crisis.
OPEC+ won’t meet until oil output numbers agreed: Iran oil minister
There needs to be an agreement on oil production numbers before any future meeting between OPEC and non-OPEC members, Iran’s Oil Minister Bijan Zanganeh tweeted on Tuesday.
Exxon lops 30% off 2020 spending, deeper and later than rivals
Exxon Mobil Corp on Tuesday throttled back investment in shale, natural gas and deep water production, cutting planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices tumble.
Exxon could delay third Guyana project amid low prices, spending cuts
Exxon Mobil Corp said on Tuesday the start of production at its Payara project in Guyana, its third major development in the world’s newest offshore oil hotspot, could be delayed as the company scales back spending due to the crude price crash.
AT&T takes on $5.5 billion loan to boost ‘financial flexibility’
AT&T Inc. on Tuesday announced a $5.5 billion term-loan agreement, which it said would give the company “financial flexibility” during the coronavirus outbreak.
Side effects: Fuel demand crash shuts U.S. ethanol plants, meatpackers lack refrigerant
A slew of U.S. ethanol plants have shut down as fuel demand has collapsed during the coronavirus outbreak, and meatpackers have been hit by a worrying side-effect: less carbon dioxide is now available to chill beef, poultry and pork.
Huawei laments U.S. plans to crimp its global chip supply
A Huawei Technologies Co Ltd [HWT.UL] executive on Tuesday described as “unfortunate” plans by the U.S. government to curb the Chinese telecom equipment maker’s access to global chip supplies.
Goldman Sachs must face class action over conflicts of interest, risky mortgages
Goldman Sachs Group Inc must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial …
Hopes of progress against virus lift stocks, weigh on dollar
World stock markets posted sharp gains on Tuesday as signs of progress in curbing the spread of the novel coronavirus in both Europe and the United States fueled investors’ appetite for risk.
