Oil prices fell in early trade on Monday, paring last week's gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease.
The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus - and growing unease at the gulf between asset prices and grim economic reality - turned investors cautious.
U.S. crude futures fell more than 5% in early trade on Monday, paring last week's gains, on worries about oil oversupply and tempered hopes for an economic recovery as some U.S. states and cities around the world ease coronavirus pandemic restrictions.
White House economic adviser Larry Kudlow said on Sunday he would not rule out anything in a new relief bill to ease the "tremendous hardships" of the coronavirus outbreak, including more money for state and local governments and small businesses.
Iceland may consider taking a stake in Icelandair Group if the government injects funds into the airline, Bloomberg reported, citing comments by Prime Minister Katrin Jakobsdottir to a local radio station.
After the coronavirus pandemic passes, life will continue in many regards, but nothing will be the same and the economy won't return to the way it was, not for a long time.
Rocket Lab CEO Peter Beck told CNBC that the impact of the coronavirus crisis on the space industry is in "early days," as he expects a tough environment for at least 18 more months.
Lufthansa is hopeful its bailout talks with the German government can be concluded soon, the airline's board told staff in a letter seen by Reuters, adding that it is also considering alternatives such as creditor protection.
General Motors' sales in China saw double-digit year-on-year growth in April, its two local ventures said on Sunday, as the world's biggest auto market recovers from the coronavirus.
White House economic adviser Larry Kudlow said on Sunday he would not rule out any element in the next potential coronavirus relief bill, including more money for state and local governments and the small business program.
Warren Buffett's Berkshire Hathaway Inc on Saturday posted a record net loss of nearly $50 billion as the coronavirus pandemic pummeled its common stock investments, but operating profit rose even as COVID-19 hurt its businesses.
French bank Societe Generale expects to have to provision 3.5 billion euros to 5 billion euros ($3.84 bln-5.49 bln) this year because of losses due to the coronavirus crisis, its chief executive said in an interview on Saturday.
Icahn's next energy bet could pay off through a takeover or a rebound in oil prices.
Tesla Inc told furloughed employees on Friday that they will remain out of work for at least another week, postponing a plan to resume normal operations on May 4 at its San Francisco vehicle-assembly plant, according to an internal email.
Billionaire investor Warren Buffett on Saturday said the United States' capacity to withstand crises provides a silver lining as it combats the coronavirus, even as he acknowledged that the global pandemic could significantly damage the economy and his investments.