Occidental Petroleum cuts CEO, staff pay to combat falling oil prices
Occidental Petroleum Corp will cut employee salaries by up to 30%, according to an internal memo reviewed by Reuters, as the debt-laden U.S. oil producer tries to save cash amid tumbling energy prices.
U.S. automakers to extend shutdown into April: sources
Detroit’s Big Three automakers plan to extend a current shutdown of vehicle production in North America into April as the coronavirus pandemic continues, people briefed on the matter said Tuesday.
Asian shares track Wall Street surge as U.S. stimulus hopes grow
Asian shares extended their rally on Wednesday in the wake of Wall Street’s big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic’s economic toll.
Qantas shares soar on financing deal as rivals cut more capacity
Qantas Airways Ltd on Wednesday secured A$1.05 billion ($627.8 million) against its aircraft fleet to help it ride out the coronavirus crisis, sending its shares soaring, as airlines in the Asia-Pacific region sliced away capacity and jobs.
Oil ekes out gains as U.S. stimulus hopes lift global markets
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Thyssenkrupp to cut 3,000 jobs at steel unit by 2026
The German elevator-to-car parts conglomerate Thyssenkrupp will cut 3,000 jobs at its steel unit by 2026 as part of a wage deal it struck with powerful labor union IG Metall, it said on Wednesday.
Two more NYSE floor traders test positive for coronavirus: memo
At least two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite measures taken to prevent people infected by the virus from entering the exchange while it remained physically open last week, according to a…
Exclusive: Boeing plans 737 MAX production restart by May – sources
Boeing Co plans to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban on its best-selling jet after fatal crashes, people familiar with the matter said on Tuesday.
Fed’s stimulus eases global market fears, gets cash flowing
By Gertrude Chavez-Dreyfuss, Kate Duguid and Abhinav Ramnarayan
Nike revenue beats as digital growth offsets rare China sales fall on virus hit
Nike Inc beat estimates for quarterly revenue on Tuesday as strong digital demand offset the first China sales drop in nearly six years from the coronavirus-fueled shutdowns, but the company held back from providing a forecast due to the outbreak.
