Oil jumps 8% on stimulus hopes, spending cuts by U.S. producers
Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
U.S. lawmaker cites conflicts in Fifth Third phony accounts probe
A senior Democratic senator on Tuesday raised concerns that a federal regulator probing allegations that Fifth Third Bancorp employees created phony accounts may be conflicted because one of its staffers previously worked at the bank.
Airlines try to stave off calamity as coronavirus locks down Italy
Airlines around the world sank deeper into crisis on Tuesday as the worsening coronavirus epidemic and Italy’s lockdown hammered passenger numbers, forced the cancellation of thousands of flights and led to the delaying of plane orders.
U.S. House lawmaker asks Justice Department whether former Wells Fargo CEO Sloan broke law in ‘misleading’ Congress
The chair of the U.S. House Financial Services Committee has asked the Justice Department to review whether former Wells Fargo CEO Timothy Sloan broke the law in giving “misleading” sworn testimony to Congress.
Wall Street advances as stimulus hopes calm recession fears
Wall Street reversed course on Tuesday, pulling back from the brink of bear market confirmation as bargain hunting and stimulus hopes calmed investors’ fears of recession and uncertainties surrounding the coronavirus.
Coronavirus brings no-contact food delivery to United States
Leaving bags of food on doorsteps or texting your delivery driver a picture of where you want your meal dropped off – these are new methods for U.S. consumers to get their orders as the coronavirus spreads.
Saudi Arabia, Russia raise stakes in oil production standoff
Saudi Arabia said on Tuesday it would boost its oil supplies to a record high in April, raising the stakes in a standoff with Russia and effectively rebuffing Moscow’s suggestion for new talks.
White House says Trump, Saudi crown prince discussed energy markets
U.S. President Donald Trump spoke with Saudi Arabia’s Crown Prince Mohammed bin Salman in a call on Monday to discuss global energy markets, among other issues, the White House said on Tuesday without giving any other details.
Barclays reports coronavirus case on New York trading floor
Barclays Plc has told employees that a member of its trading staff in its Manhattan office has tested positive for the coronavirus, the company said on Tuesday.
BlackRock employee in New York tests positive for coronavirus
BlackRock Inc said on Tuesday an employee in its New York office was diagnosed with the coronavirus, and has been in self-quarantine and working from home since March 4.
