Oil prices fell on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.
Southeast Asian ride-hailing and payments firm Grab announced hundreds of job losses on Tuesday due to the impact of novel coronavirus.
U.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses.
Southeast Asian ride-hailing and payments firm Grab said on Tuesday it will lay off more than 300 employees due to the impact of novel coronavirus, in the latest setback to major backer SoftBank Group Corp .
Asian shares rallied and the dollar fell on Tuesday as risk appetite was bolstered by the formal start of the Federal Reserve's corporate bond buying programme, and earlier worries about a second wave of coronavirus infections eased.
Oil prices made marginal gains on Tuesday, reversing out of earlier losses, as hopes for further cuts in crude supplies took the sting out of concerns that a resurgence of new coronavirus infections around the world could hamper fuel demand.
Tencent Holdings Ltd aims to become the biggest shareholder in video streaming rival iQIYI Inc , said two people familiar with the matter, to lower costs and counter competition in a sector boosted by stay-at-home virus policies.
The global stocks rally was back on track on Tuesday, with more support from the Federal Reserve and the Bank of Japan helping end a bumpy few days for financial markets.
Apple on Tuesday found itself the target of two EU antitrust investigations into its App Store and Apple Pay as regulators said its terms and conditions and restrictions may violate the bloc's competition rules.
China's factories stepped up production for a second straight month in May, as the country shook off the economic torpor of the coronavirus, although the weaker-than-expected gain suggested the recovery remained fragile.
Mexico will have to pay more for less coverage under its giant oil revenue insurance policy for 2021, but will likely go ahead anyway to avoid further damaging its financial standing with international investors, sources said.
Italian bank Intesa Sanpaolo has increased the number of branches and amount of assets it will sell to rival BPER if its proposed takeover of UBI Banca goes through in an effort to overcome antitrust objections to the deal.
Asian shares and Wall Street futures fell on Monday as growing fears of a second wave of coronavirus infections revived economic worries, while underwhelming data from China also weighed on investor sentiment.
Stock market gains have further to run and investors are still under-pricing the scale of the world's coronavirus recovery, investment bank Morgan Stanley said in an outlook note.