BMW CEO: working to safeguard liquidity during coronavirus crisis
BMW Chief Executive Oliver Zipse said the carmaker is focussing on preserving the health of its balance sheet and workforce which have come under strain during the coronavirus crisis.
Exclusive: Airbus weighs sharp cut in A320 series plane production – sources
Airbus is studying a sharp cut in output of its top-selling A320 plane series in light of industrial and delivery challenges posed by the coronavirus crisis, four people familiar with the matter said.
OPEC+ debates biggest ever cut as virus destroys oil demand
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic.
‘Mom & Pop’ shops worry they will be squeezed out of small business coronavirus aid
Family-owned restaurants fear they could be pitted against larger competitors, hotel chains and potentially investment funds in a race starting on Friday for a $349 billion pot of money the U.S. government will offer businesses hard-hit by coronavirus….
Trump to host Big Oil execs at White House to discuss market slump
U.S. President Donald Trump will meet with oil company executives at the White House on Friday to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.
UK facing Depression-style hit as firms slump in March
Britain’s economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March.
Brent oil rises above $32 on hopes of output deal
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.
Factbox: Oil analysts sceptical about Saudi-Russian ‘deal’
U.S. President Donald Trump is stoking the possibility of Saudi Arabia and Russia negotiating oil output cuts as the coronavirus outbreak hammers demand.
China probes alleged fraud at Luckin Coffee, banks review IPO work
China’s securities regulator said on Friday it would investigate claims of fraud at Luckin Coffee Inc and sources said some of the banks involved in the Chinese chain’s successful U.S. IPO last year were reviewing their work in the listing.
Dollar resumes climb as investors bid for safety
The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.
