A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
U.S. oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude.
Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation.
Virgin Australia Holdings Ltd on Tuesday succumbed to third-party led restructuring that could lead to a sale, making Australia's second-biggest airline the Asia-Pacific region's biggest victim of the coronavirus crisis gripping the industry.
Casual clothing chain Uniqlo plans to reopen two stores in Berlin this week, the first in Europe to resume business after nearly all of its stores there were closed due to the coronavirus outbreak.
U.S. crude oil bounced back into positive territory on Tuesday, but a historic plunge below zero rattled investors and triggered the steepest drop in Asian stock markets in a month.
The coronavirus pandemic brought a six-month experiment in dual leadership at SAP to an abrupt end as the German business software group named Christian Klein as its sole CEO to provide clarity to its 400,000 clients.
Nissan Motor Co said on Tuesday it will shut its global headquarters in Japan for 16 days through early May to contain the spread of the coronavirus, even though the government has permitted keeping workplaces open to get the economy running.
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
U.S. oil prices recovered on Tuesday to trade in positive territory after sinking below $0 for the first time ever, but international benchmark Brent dipped as demand for crude slumps amid the coronavirus pandemic.
The Trump administration is considering the possibility of providing liability protection to small businesses that reopen and put their employees back to work as the nation tries to repair the economic damage wrought by the coronavirus, a top White House adviser said on Tuesday.
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
A U.S. labor and activist coalition said employees of Amazon.com Inc would take off work starting on Tuesday to draw attention to what it says are unsafe conditions at warehouses during the coronavirus pandemic.
Chipotle Mexican Grill Inc on Tuesday reported a 16% drop in March same-store sales while online orders surged, as it was forced to keep stores closed because of the coronavirus pandemic.
Online lender LendingClub Corp said on Tuesday it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs amid the economic fallout of the COVID-19 pandemic.