Oil prices mixed as demand shrinks, but stimulus hopes support
Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.
Home-bound users fume as video apps do not sync with TVs
Kat Volpe laid out an exercise mat and tried to sync her iPhone with her big screen TV for a fitness class webcast on Instagram last week during New York’s coronavirus lockdown.
Airlines turn to cargo for revenue as U.S. Senate nears industry aid vote
Delta Air Lines Inc and Air New Zealand Ltd said they would offer cargo charter services on passenger planes to boost revenue as the U.S. Senate neared a vote on a bill to give its carriers $58 billion in aid, including payroll support.
Asian markets cautiously await U.S. stimulus, jobs
Asian stock markets were poised for a cautious start on Thursday following two days of rallies, as investors await the passage and details of a $2 trillion stimulus package in the United States to address the economic fallout from the coronavirus.
Ackman’s hedge funds make money this year as hedges help
Billionaire investor William Ackman, who hedged his Pershing Square Capital management portfolio weeks ago to guard against coronavirus-inspired panic selling, told investors his private hedge fund is making money this year, an investor said on Wednesd…
Airbnb holds meeting with bankers to extend $1 billion debt facility: source
Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown due to the coronavirus, a source who participated in the meeting said.
Canadian oil companies ask government for cash, credit to survive
Canadian oil and gas companies are urging Ottawa to free up credit and cash to help them survive the twin shocks of COVID-19 spread and a crude price war, pitching ideas ranging from tax deferrals to backstopping bank loans.
Trump says reopen by Easter, Corporate America says not so fast
(This March 25 story corrects paragraph 11 to show Sean Kennedy represents the National Restaurant Association)
AMC Theatres furloughs CEO, corporate employees due to virus
AMC Entertainment Holdings Inc , the world’s largest theater operator, has placed its chief executive and all of its corporate employees on furlough to preserve cash during the coronavirus outbreak, a company spokesman said on Wednesday.
Tesla to reopen New York plant ‘as soon as humanly possible’ to make ventilators: Musk
Tesla Inc will reopen its New York factory “as soon as humanly possible” to manufacture ventilators for coronavirus patients, Chief Executive Officer Elon Musk said on Twitter on Wednesday.
