U.S. weekly jobless claims seen at record high: again
The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy i…
Trump says expects Russia-Saudi oil deal soon, invites US oil chiefs to White House
U.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry “ravaged” by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia.
Volkswagen extends Mexico production halt as coronavirus bites
German automaker Volkswagen said on Wednesday it would extend until April 30 a suspension of activities at two production plants in central Mexico after the government declared a health emergency because of coronavirus.
Oil jumps as Trump talks up truce hopes for Saudi-Russia price war
Crude oil futures jumped 10% on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.
Saudi wants cooperation to bolster oil, blames Russia for turmoil: Gulf source
Saudi Arabia supports cooperation between oil producers to stabilize the oil market but Russia’s opposition to a proposal last month to deepen oil supply cuts has caused market turmoil, a senior Gulf source familiar with Saudi thinking told Reuters.
Oil refiners face reckoning as demand plummets
The global oil refining industry is facing a reckoning from falling fuel demand that is the deepest and fastest ever.
Dollar holds gains as investors seek safety in liquidity
The dollar held gains on Thursday as investors rushed to the safety of the world’s most liquid currency given the massive disruption to global trade due to the coronavirus pandemic.
Cruise operator Carnival pays high price to get credit investors on board
Carnival Corp , the world’s largest cruise operator, said it has raised $6.25 billion by issuing new debt and equity on Wednesday, borrowing at a high cost to weather the economic storm of the coronavirus pandemic.
U.S. Treasury taps Wall Street firms for aid advice: sources
The U.S. Treasury Department has hired Wall Street bankers and lawyers to advise on providing tens of billions of dollars in aid to the airline, cargo and defense sectors, people familiar with the matter said on Wednesday.
Exclusive: Top U.S. banks may shun small-business rescue plan on liability worries – sources
Top U.S. banks have threatened to give the federal government’s small-business rescue program a miss on concerns about taking on too much financial and legal risk, five people with direct knowledge of industry discussions told Reuters.
