Oil prices dropped on Thursday, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in U.S. distillate inventories.
Fifteen U.S. airlines were granted final government approval on Wednesday to temporarily halt service to 75 domestic airports as travel demand has been crushed due to the coronavirus pandemic.
(Bloomberg) — Oil retreated from a three-month high as OPEC+ unity was threatened by a long-running feud over complying with production cutbacks, while U.S. data cast doubt on the strength of the demand recovery.Futures in New York fell around 2% to below $37 a barrel after closing at the highest since March 6. Saudi Arabia and Russia have reached a preliminary deal to extend output curbs for an extra month, but it’s conditional on other members making deeper cuts in the months ahead to make up for past non-compliance, people familiar with the matter said. The two leading producers have …read more […]
South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.
Hong Kong-listed shares of HSBC and Standard Chartered rose on Thursday after the banks backed China’s imposition of a national security law on the city, even as a pro-democracy and newly formed financial workers’ union criticized the move.
The number of Americans filing for unemployment benefits likely dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19.
A massive Pennsylvania plastics project that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook for the materials, a report by an institute that examines energy issues said on Thursday.
South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee and two former company executives, they said on Thursday, in an investigation of a controversial 2015 merger and alleged accounting fraud.
The U.S. Transportation Department said late Wednesday it granted final approval to 15 airlines to temporarily halt service to 75 U.S. airports because of a lack of demand stemming from the coronavirus pandemic.
South Korean prosecutors said on Thursday they had requested an arrest warrant against Samsung Group heir Jay Y. Lee and two former company executives as part of an investigation into a controversial 2015 merger and alleged accounting fraud.
Asian shares rose to a two-month high on Thursday as government stimulus expectations supported investor confidence in an economic recovery from the global coronavirus pandemic.
As the coronavirus jolts Japan, the government’s huge stimulus package has come under fire from hard-hit restaurant owners for channelling funds for items like wagyu beef, melons and tourism rather than accelerating help for firms with burning cash needs.
From its Silicon Valley-like campus near Mumbai, Indian billionaire Mukesh Ambani’s Jio telecom carrier is emerging as a winner from changes in the way Indian consumers plug into a digital economy made more urgent by the coronavirus pandemic.
Oil prices fell on Thursday, reversing gains in the previous session, on concerns that supply will rise if major producers are unable to agree to extend the depth of output cuts that have supported recent gains.
The United Auto Workers still needs to reform and a federal takeover remains an option, the U.S. prosecutor leading the investigation of corruption within the union told Reuters on Wednesday after the UAW’s former president pleaded guilty to embezzlement.
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