Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices.
Commodity currencies drew support on Thursday from hopeful signs the coronavirus pandemic may be peaking and that major oil producers may agree to cut output to stem a plunge in oil prices.
Exxon Mobil Corp used economic uncertainty tied to the coronavirus pandemic to urge workers at its lubricants and packaging plant in Paulsboro, New Jersey, to vote for a proposed contract, according to two sources familiar with the matter.
Risk-sensitive currencies climbed on Thursday on budding optimism the coronavirus pandemic may be peaking although the euro was dented by the European Union's failure to agree on more support for their weakened economies.
Crude futures rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with the coronavirus-driven collapse in global oil demand.
Mexico's president threw himself into a new confrontation with businesses on Wednesday, accusing big companies of not paying taxes and upbraiding others for laying off workers during the coronavirus crisis.
The U.S. economy is set for a deep slide in coming months with the coronavirus forcing businesses to shut and putting millions out of work, but Federal Reserve policymakers are also warning of a slugging recovery once the pandemic subsides.
Asian shares were poised to track Wall Street's gains on Thursday on hopes the coronavirus pandemic is nearing a peak and that governments would roll out more stimulus measures.
Dow Jones Chief Executive Officer Will Lewis is stepping down, parent company News Corp said on Wednesday.
U.S. House Speaker Nancy Pelosi said on Wednesday that $250 billion in coronavirus relief for small businesses desired by Republicans could not pass the House of Representatives on its own under current procedures, which require a unanimous vote of those present while most of Congress is out of town.
Dutch health technology company Philips said on Wednesday it struck a deal with the White House that will enable it to significantly ramp up its production of hospital ventilators as promised.
JetBlue Airways Corp on Wednesday asked the U.S. Transportation Department for emergency approval to temporarily suspend service to 11 U.S. airports, including Dallas, Houston, Minneapolis, Portland, Sacramento and Albuquerque.
Costco Wholesale Corp reported a 9.6% jump in March comparable sales, as customers stocked up on essentials to weather coronavirus-led lockdowns.
JPMorgan Chase & Co, the largest U.S. bank, has taken action against more than a dozen traders for using WhatsApp at work, firing one and cutting bonuses for the rest, Bloomberg news reported on Wednesday, citing people with knowledge of the matter.
Starbucks Corp said on Wednesday the financial hit from the coronavirus pandemic would extend into the final quarter of 2020, but added that it had no plans to cut its quarterly dividend.