General Motors, Honda to jointly develop two new electric vehicles
General Motors Co and Honda Motor Co Ltd said on Thursday they would jointly develop two new electric vehicles for Honda and are exploring more ways to expand their alliance.
Dollar gains for second day; U.S. non-farm payrolls loom
The dollar rose against a basket of currencies for a second straight day on Thursday as investors, worried about the prospect of a global recession, continued to take shelter in the greenback.
Trump touts ‘great’ Saudi-Russia oil deal to halt price rout, details unclear
U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear.
Oil crash poses severe test for OPEC+ after Moscow, Riyadh miscalculate
U.S. President Donald Trump says he has brokered a deal with Saudi Arabia and Russia that would see sweeping oil output cuts. Riyadh has called for emergency talks, and Moscow has said it no longer plans to hike production in a battle for market share….
Coronavirus punishes Warren Buffett’s equity holdings
The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett’s equity portfolio at Berkshire Hathaway Inc , setting up the conglomerate for one of the largest quarterly losses ever by an American company.
Exclusive: Trump does not plan to ask U.S. oil producers for coordinated cuts – official
The United States will not ask U.S. domestic oil companies for a coordinated cut in production to counter a historic meltdown in global prices and is still awaiting the details of planned cuts in Saudi Arabia and Russia, a senior administration officia…
U.S. unemployment to shoot up while GDP declines in second quarter: congressional estimators
The U.S. unemployment rate will shoot past 10% in the second quarter and the growth rate of gross domestic product will decline by more than 7% as the coronavirus crisis grips the U.S. economy, according to projections released by the Congressional Bud…
Oil posts biggest one-day gains after Trump touts Saudi-Russia oil deal
Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting o…
As millions lose jobs, Fed policymakers say recession is here
The U.S. recession is here. How long it will last will depend on the course of a viral pandemic that could still kill hundreds of thousands of Americans, and has most of the country under lockdowns aimed at slowing the infection’s spread.
U.S. Air Force recommends paying Boeing up to $924 million: sources
The U.S. Air Force has recommended the release of up to $924 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, according to a memo seen by Reuters and a source familiar with the situation.
