Oil futures pare record gains as doubts creep in on Trump’s Saudi-Russia output deal
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production.
Uber to start shipping car disinfectants to drivers
Uber Technologies Inc will begin shipping disinfecting car spray to selected drivers in areas most affected by the coronavirus outbreak, an executive said on Thursday.
What’s in the U.S. small business rescue program?
Amid confusion over a $349 billion rescue program for small businesses struggling to survive the coronavirus pandemic, the U.S. Treasury released guidelines it hopes will pave the way to getting the spigots flowing on Friday, as promised.
Trump says 3M ‘will have a big price to pay’ over face masks
President Donald Trump slammed 3M Co in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks.
Airbnb lowers internal valuation to $26 billion as coronavirus hits bookings: FT
Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the global spread of the coronavirus pandemic, the Financial Times reported on Thursday.
Dollar strength consolidates as global recession looms
The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.
Samsung Electronics shuts U.S. factory after two coronavirus cases
Samsung Electronics said on Friday that it has suspended its home appliance factory in the United States after two of its workers had tested positive for coronavirus.
Asian markets look to follow Wall Street rally as oil surges
Asian markets on Friday looked to latch onto Wall Street’s overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession.
Mnuchin says small business rescue loans launch Friday, despite lender confusion
U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses, after conceding to bank demands to fix aspects of the program that they said could cause pa…
Current talks among OPEC nations, U.S. insignificant for oil prices: Petrobras CEO
Recent negotiations involving leaders from OPEC nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening.
