Brazil's government is discussing with the country's main airlines further reducing a minimal flight schedule implemented due to the coronavirus crisis as travel demand remains close to zero, three sources told Reuters.
U.S. crude oil jumped more than $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
U.S. stock index futures fell on Monday as a slump in oil prices pounded energy stocks, with investors also bracing for another batch of dour first-quarter earnings reports and economic data.
The U.S. energy industry has asked the Federal Reserve to change the terms of a $600 billion lending facility so that oil and gas companies can use the funds to repay their ballooning debts, according to a letter seen by Reuters.
The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity.
The U.S. Treasury Department said on Monday it has disbursed $2.9 billion in initial payroll assistance to 54 smaller passenger carrier and two major passenger airlines, while it finalized grant agreements with six major airlines.
Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, people familiar with the matter said on Monday.
Asia shares were poised to track a Wall Street tumble on Tuesday after U.S. crude futures turned negative for the first time in history, crushed by a spectacular collapse in oil demand as the coronavirus pandemic derails the global economy.
Nissan Motor Co on Tuesday said that it would temporarily shut down operations at its global headquarters and other facilities in Japan through early May to contain the spread of the coronavirus at its sites.
The U.S. Congress on Monday inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with House Speaker Nancy Pelosi saying negotiators had come to terms on the 'principles' of the package as the Senate set a Tuesday session for a potential vote.
Shake Shack Inc will return the small business loan it received from the U.S. government, the burger chain's chief executive said on Monday, making it the first major firm to hand back money aimed at helping small businesses ride out the coronavirus impact.
Oil prices rebounded on Tuesday, with U.S. crude turning positive after trading below $0 for the first time ever, but gains were capped amid unresolved concerns about how the market can cope with fuel demand decimated by the coronavirus pandemic.
U.S. House Speaker Nancy Pelosi said on Monday Republican and Democratic negotiators have come to terms on the "principles" of the next coronavirus relief package, which is expected to focus on more aid for small businesses and be taken up in the U.S. Congress this week.
Aston Martin's immediate priorities will be restarting manufacturing and launching production of its crucial first sport utility vehicle, the luxury carmaker's new boss, Formula 1 team owner Lawrence Stroll, said on Monday.
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group VZBV over the carmaker's rigging of diesel emissions tests, the carmaker said on Monday.