Activist investor Carl Icahn has increased his stake in Occidental Petroleum Corp to almost 10%, scaling up his fight to take control of the oil producer, the Wall Street Journal (WSJ) reported on Wednesday.
The new U.S. ban on foreign citizens entering the country if they have traveled to Europe in recent weeks will heap more pressure on airlines already reeling from the coronavirus pandemic, hitting European carriers the hardest, analysts said.
A United States travel ban on European visitors will hit U.S. airlines, their employees, and travelers "extremely hard", trade group Airlines for America said on Wednesday.
Corporate America is gearing up for leaner times.
"One of the things that really made things better today is this was a recognition that things have to be done. That was very reassuring," CNBC's Jim Cramer said Tuesday.
Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington's stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Mexico and other nations are seeking to mediate between Russia and Saudi Arabia to end a price war that has battered world markets, Mexico's finance minister said on Tuesday, citing his country's prior experience in calming a crude producer feud.
Oil prices bounced back 7% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia.
Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington's stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Oil prices climbed for a second day on Wednesday, lifted by hopes that U.S. producers will cut output, but gains were limited compared with Monday's crash after Saudi Arabia and Russia triggered a price war.
Air freight rates are skyrocketing after the grounding of many passenger flights in Asia has left shippers scrambling to book limited spots on cargo planes as Chinese industrial production restarts, according to industry insiders.
Tesla Inc Chief Executive Officer Elon Musk said on Tuesday he was looking for locations in the central United States to build a new factory for the company's electric pickup truck.
Telefonica Brasil SA and TIM Participações SA have expressed interest in negotiating a joint offer to buy bankrupt Brazilian carrier Grupo Oi SA , the two companies said on Tuesday in securities filings.
President Donald Trump met with fellow Republicans in the U.S. Senate on Tuesday to discuss a fiscal stimulus plan to bolster the nation's economy in the face of the coronavirus outbreak.
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.