Russia says U.S. has legal curbs on oil output cuts, but should be flexible
Russian Energy Minister Alexander Novak said on Friday that the United States has legal restrictions on oil output cuts, but the country should be flexible with them, RIA news agency reported.
Oil surges more than 13% on hopes of output deal
Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal to cut crude supply worldwide will emerge early next week.
Kraft Heinz says has halted three plants due to coronavirus outbreak
Kraft Heinz Co has moved to halt production at three different plants because of a decline in demand stemming from the new coronavirus outbreak, its Chief Executive Miguel Patricio on Friday said in a video presentation hosted by Brazilian retail brok…
Richmond Fed’s Barkin: Employment numbers to get worse before getting better
U.S. employment numbers will get worse amid the ongoing coronavirus outbreak before getting better, Richmond Federal Reserve President Thomas Barkin said in an interview with Bloomberg News.
U.S. airlines face deadline to apply for federal payroll grants
U.S. passenger and cargo carriers and airport contractors faced a deadline of 5 p.m. EDT (2100 GMT) on Friday to tap the federal government for up to $32 billion in payroll grants to keep workers employed while they ride out the economic toll of the co…
Wall Street falls as coronavirus cuts into U.S. payrolls
Wall Street’s main indexes fell on Friday as the coronavirus abruptly ended a record U.S. job growth streak of 113 months, leaving little doubt that the economy is in a recession.
American Airlines applies for U.S. payroll assistance grants
American Airlines, the largest U.S. airline, confirmed Friday it has applied to the U.S. Treasury for a chunk of the $25 billion payroll assistance grants approved by Congress last week.
Global currency funds notch wins amid coronavirus volatility
Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets.
The watchdogs overseeing the $2.3 trillion U.S. bailout
Who’s watching over the U.S. government’s largest bailout in history – the $2.3 trillion in fiscal stimulus to fight the economic impact of the coronavirus?
Exclusive: Amazon to delay Prime Day sales event due to coronavirus
Amazon.com Inc is postponing its major summer shopping event Prime Day until at least August and expects a potential $100-million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
