Virgin Australia Holdings Ltd said on Tuesday it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load.
Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present on U.S. soil.
International Business Machines Corp's clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew its 2020 annual forecast.
Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Poland's national airline LOT pulled out of a deal to buy the airline, two people close to the matter said on Monday.
Billionaire entrepreneur Mark Cuban joined CNBC's "Fast Money" on Monday.
Detroit's automakers and the United Auto Workers (UAW) union are in talks about safely restarting U.S. production halted by the coronavirus pandemic, but local union leaders said on Monday any workers who feel sick must be allowed to self quarantine without losing pay.
Wall Street tumbled on Monday after U.S. crude futures turned negative for the first time ever, with traders forced to pay to unload crude as the May contract expired during a global economic slump unleashed by the coronavirus outbreak.
International Business Machines Corp on Monday withdrew its 2020 annual forecast due to uncertainty caused by COVID-19, but said its customers were relatively well positioned for the pandemic and it would continue to pay dividends.
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
U.S. retailers and other business groups on Monday welcomed a move by the Trump administration to allow importers to defer for three months any tariff payments they owe the government, but said they needed more tariff relief to deal with the pandemic.
U.S. Democrats and Republicans in Congress feuded on Monday over who was responsible for delay even as they worked on details of a possible $450 billion-plus deal to provide more aid to small businesses and hospitals hurt by the coronavirus pandemic.
Several big restaurant chains and other large businesses used a loophole in the coronavirus relief law to secure Paycheck Protection Program loans aimed at smaller businesses.
Traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.
Wall Street fell sharply on Monday after U.S. crude futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy.
Energy traders fled from the expiring May U.S. oil futures contract in a frenzy on Monday, sending the contract deep into negative territory for the first time in history, as barely any buyers are willing to take delivery of oil barrels because there is no place to put the crude.