Oil producer countries may have to cut output more than the record amount already agreed to tackle an "unprecedented" slump in prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday by the ministry's website SHANA.
Wall Street's main indexes surged on Wednesday as oil prices recovered some ground and Congress looked on course to seal nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
S&P Global Ratings | Bernard De Longevialle | April 21, 2020 Key Takeaways The coronavirus pandemic is highlighting why stakeholders matter, less than a year after moves by business and industry to shift from a focus on shareholders. Amid the pandemic, insufficient consideration paid to all stakeholders in decision-making is backfiring on a number of
Norwegian Air , the budget carrier that changed the way people travel across the Atlantic, is fighting for survival as the coronavirus pandemic deepens the company's financial straits, forcing it to furlough staff and cancel flights.
U.S. Treasury Secretary Steven Mnuchin warned on Wednesday that larger companies could face investigation if they apply for small business coronavirus rescue money without carefully reviewing whether they qualify for it.
Netflix Inc said on Wednesday it plans to raise about $1 billion in debt to beef up original content, a day after the streaming pioneer doubled its own projections for new customers as stuck-at-home users binged on movies and shows.
IKEA, the world’s biggest furniture brand, opened three of its six stores in Israel on Wednesday after the government started to gradually ease its coronavirus lockdown.
Shares of American Eagle Outfitters Inc dropped 14% on Wednesday after the apparel retailer withdrew its full-year forecast and said current-quarter results would be significantly hit by coronavirus-related store closures.
Mercedes-Benz is ramping up engine production at its plant in Bad Cannstatt, Stuttgart, this week after Germany eased lockdown measures in a sign Europe's largest economy is getting back to work after the coronavirus brought the country to a standstill.
The U.S. housing regulator on Wednesday announced its second step in as many days to help ease the liquidity strain in the mortgage market.
It may take European Union countries until the summer or even longer to agree on how exactly to finance aid to help economies recover from the coronavirus pandemic as major disagreements persist, a bloc official said on Wednesday.
Brent crude oil rose 8.4% on Wednesday, as prospects for extra pledges from major producers to cut output prompted a sharp turn up off a session low that took the global benchmark below $16 a barrel to its lowest since 1999.
Oklahoma's energy regulator on Wednesday ruled in favor of an oil company's emergency application to classify some oil production as economic waste, enabling producers to maintain leases where production is halted due to low prices.
Investment firm Sycamore Partners is seeking to end its deal to buy a stake in L Brands Inc's lingerie brand Victoria's Secret, citing business decisions the retailer took during the coronavirus pandemic, a court filing on Wednesday showed, sending the company's shares down over 20%.
Apple Inc is planning to fix a flaw that a security firm said may have left more than half a billion iPhones vulnerable to hackers.