Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it all.
If refineries ultimately don't want oil, it has little to no value. If you have oil and nowhere to put it, it can have negative value.
U.S. oil futures dipped in electronic trading Sunday evening, extending losses from last week that marked the eighth week of losses out of the last nine.
The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.
Germany's ruling coalition is divided over whether the state should have a role in running airline Lufthansa in return for a rescue package the company aims to finalise next week, politicians said on Sunday.
Government officials are not the only ones turning to masks amid the coronavirus spread. Some small companies are adding new business lines to help fulfill the growing need. These New York City firms discuss how they are doing it.
Boeing Co on Saturday said it had canceled a $4.2 billion deal to buy the commercial jets division of Embraer , unraveling years of work on what the Brazilian planemaker expected to be a transformative move.
Lion Point is a concentrated credit and equity hedge fund co-founded by former managers from Elliott Associates and Perry Capital.
Boeing Co has told the Brazilian planemaker Embraer that Embraer has not met conditions needed to complete a civil aerospace tie-up, meaning the $4.2 billion deal is off for the foreseeable future, two people familiar with the matter said.
India plans to fast track the review of some investment proposals from neigbouring countries such as China following concerns new screening rules could hit plans of companies and investors, three sources told Reuters on Saturday.
Though Congress approved another $310 billion in PPP funding Thursday, it's unclear whether that's enough to cover everyone who didn't receive loans in the first round.
President Donald Trump on Friday threatened to block federal aid for the U.S. Postal Service unless it raises shipping rates for online companies like Amazon.com, prompting criticism that the move would hurt consumers relying more than usual on packages during the coronavirus outbreak.
Japan Airlines Co is discussing the possibility of securing financing totaling $2.8 billion from its lenders to cushion the financial blow of the coronavirus outbreak, public broadcaster NHK said on Saturday.
Two proxy advisers, Glass Lewis and Institutional Shareholder Services (ISS), have recommended that shareholders of Boeing Co vote against key board members of the planemaker to show objections to the company's handling of the 737 Max crisis.