Oil prices jumped by almost 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
Saudi Arabia said on Tuesday it would boost its oil supplies to a record high in April, raising the stakes in a standoff with Russia and effectively rebuffing Moscow's suggestion for new talks.
Hourly wage workers at McDonald's Corp on Tuesday sought paid sick leave for those working at its U.S. restaurants and an update to the safety protocols as coronavirus cases in the United States rise.
Barclays Plc has told employees that a member of its trading staff in its Manhattan office has tested positive for the coronavirus, the company said on Tuesday.
Airlines around the world sank deeper into crisis on Tuesday as the worsening coronavirus epidemic and Italy's lockdown hammered passenger numbers, forced the cancellation of thousands of flights and led to the delaying of plane orders.
The aid would likely be in the form of low-interest government loans, The Washington Post said.
The European Commission has proposed temporarily dropping the rule that airlines operate 80% of scheduled services to retain landing slots as the coronavirus outbreak pummels the global aviation industry.
A worker at Apple's European headquarters in Cork in Ireland has tested positive for coronavirus, one of 24 cases reported so far in the country where its oldest university, Trinity College, has been forced to move all lectures online.
The European Union will suspend a rule requiring airlines to run most of their scheduled services or else forfeit landing slots, to give carriers some breathing space as the coronavirus crisis deepens, EU chief Ursula von der Leyen said on Tuesday.
China's industry ministry said on Tuesday it has urged Tesla Inc to keep its China-made vehicles consistent after some Chinese customers complained the U.S. electric vehicle maker put less advanced computer chips in their cars.
Asian stocks bounced, and bond yields rose from record lows on Tuesday on hopes that global policymakers would introduce co-ordinated stimulus to cushion the economic impact of a coronavirus outbreak.
Oil prices jumped by 5% on Tuesday after the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus, although early gains were pared on demand concerns over the global spread of the coronavirus.
Norwegian Air has temporarily halted flights to and from Italy because of the coronavirus outbreak, the budget carrier said on Tuesday, adding to the company's financial woes.
Oil prices bounced 8% on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus amid a price war between Russia and Saudi Arabia and as new virus cases slowed in China.
IKEA on Tuesday started selling its products on Alibaba's Chinese e-commerce platform Tmall, the first time the world's biggest furniture retailer has sold through a third party in its 77-year history.