Russia hails oil deal it says will save millions of U.S.jobs
The global oil production deal clinched at the weekend will help establish a price floor and save millions of jobs in the United States, senior Russian officials said on Monday.
The global oil production deal clinched at the weekend will help establish a price floor and save millions of jobs in the United States, senior Russian officials said on Monday.
Oil prices gained 2% on Monday following a record deal among oil producers to cut the rapid rise in supply, a muted impact on the market as the coronavirus pandemic hammers demand.
The economic fallout from the coronavirus could be coming for your retirement plans. Depending on your work prospects, that could mean retiring much earlier or later than you had originally planned.
Ford Motor Co said on Monday it is producing face masks at a Michigan plant to protect its workers from the coronavirus pandemic and is seeking to have those masks certified for medical use.
AutoNation Inc , the largest U.S. auto dealership chain, said on Monday Chief Executive Officer Cheryl Miller has been granted a leave of absence for health reasons.
Companies in every sector face challenges giving forward-looking guidance in a pandemic that remains unpredictable.
Wall Street's main indexes slipped on Monday as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus and concerns about its spread.
Dish Network Corp has cut staff and is re-evaluating its business to cope better with the fallout from the coronavirus pandemic, the U.S. satellite TV provider told Reuters, without disclosing the number of employees laid off.
Oil prices jumped more than $1 a barrel on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply with the coronavirus pandemic hammering demand.
The agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output failed to reach the reduction levels expected by the market, leading to oil prices remaining stagnant, the head of the Japanese petroleum industry said.
General Electric Co offered on Monday to buy back at least $9 billion in debt as part of a plan to cut its financial risk and manage liquidity in response to the downturn in business caused by the coronavirus pandemic.
Goldman Sachs said on Sunday that the deal between major oil producers to cut output by nearly 10 million barrels per day is 'historic yet insufficient,' adding that no deal would be enough to offset the sharp drop in demand already occurring.
Big bank stocks in India are falling like nine pins. Some investors believe that the gloominess might be overdone.
Global equities weakened on Monday as investors braced for more indications of economic damage from the coronavirus pandemic while oil prices rose in choppy trade following a landmark deal by OPEC and its allies to cut output.