BMW, Daimler aim to cut emissions 20% this year with new electric models
New electric models will help BMW and Daimler cut emissions from the cars they sell by an average of 20% this year, the German automakers predicted on Tuesday, as they strive to meet tough new European pollution rules.
Algeria energy minister says OPEC+ countries to discuss ‘substantial’ oil output cuts
Algeria energy minister and OPEC president said on Tuesday OPEC+ countries will discuss new “substantial” oil production cuts at their meetings in Vienna this week, Algerian state news agency APS reported.
No need for imminent ECB action on coronavirus: ECB’s Kazimir
There is no need for any imminent action from the European Central Bank to combat the impact of the coronavirus outbreak, but global coordination to shield the world economy is a welcome step, ECB policymaker Peter Kazimir said on Tuesday.
Global markets: Here comes the cavalry?
A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.
Airlines face worsening coronavirus impact, European bosses warn
The worst is still to come for the airline industry in terms of economic damage from the coronavirus outbreak, European bosses warned on Tuesday, but they predicted that travel demand could stabilise in the coming weeks.
Impossible Foods cuts prices of plant-based meat to distributors
Impossible Foods on Tuesday announced an average of 15% cut in vegan product prices to distributors in the United States and asked them to pass it on to restaurants as the plant-based meat maker competes against beef products.
BoE’s Carney sees ‘powerful and timely’ global response to coronavirus
Bank of England Governor Mark Carney said policymakers around the world are working on a “powerful and timely” response to the economic hit from coronavirus which has raised fears of a new global recession.
Peugeot maker says UK factory plans dependent on Brexit talks
Peugeot maker PSA does not expect to make a call before the end of 2020 on whether to keep its British factory at Ellesmere Port running, depending on how Brexit talks evolve, Chief Executive Carlos Tavares said on Tuesday.
Chevron plans to return $80 billion to shareholders by 2024
Chevron Corp said on Tuesday it planned to return $80 billion to shareholders over five years.
Oil extends gains on expectations for coordinated effort to offset coronavirus impact
Oil prices extended gains on Tuesday on expectations that central banks will provide financial stimulus to offset the impact of the coronavirus outbreak and on growing optimism that OPEC will order deeper output cuts this week.
