Wall Street's main indexes surged on Wednesday as oil prices recovered some ground and Congress looked on course to seal nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
Oil producer countries may have to cut output more than the record amount already agreed to tackle an "unprecedented" slump in prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday by the ministry's website SHANA.
Nasdaq Inc reported higher-than-expected first-quarter profits on Wednesday, benefiting from market volatility fueled by the coronavirus crisis, but the transatlantic exchange operator also warned of uncertainty ahead.
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative discussions of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some anticipated.
Delta Air Lines Inc said on Wednesday it does not expect air travel to recover for two or three years and is working to halve its cash burn after posting its first quarterly loss in eight years due to the coronavirus pandemic."We should be prepared for a choppy, sluggish recovery even after the virus is contained," Chief Executive Ed Bastian said.
Shares of Expedia Group Inc rose 9% on Wednesday after a report that the online travel services company was in advanced talks to sell a stake to private-equity firms Silver Lake Partners and Apollo Global Management Inc for about $1 billion.
One small business owner got a Paycheck Protection Program loan. Her employees are furious.
Over half of CEOs around the world say the coronavirus is a significant threat to their business; 11% say it could bring their demise, according to a survey from YPO.
Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative discussions of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some anticipated.
The founder of Continental Resources Inc , an ally of U.S. President Donald Trump, is pressing the U.S. commodity markets regulator and the exchange to probe whether market manipulation or system failure was behind this week's unprecedented plunge in U.S. crude futures.
Security experts at Alphabet Inc's Google have identified more than a dozen government-backed hacking groups using the COVID-19 pandemic as cover for phishing and malware attempts.
Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries' digital arm, as it looks to roll out services for India's grocers and small businesses by capitalizing on WhatsApp's extensive reach in the country.
Fox Corp Chairman Rupert Murdoch and Chief Executive Officer Lachlan Murdoch will forgo their salaries in response to the coronavirus crisis, according to an internal memo sent to employees on Wednesday.
Small businesses aren't the only ones taking a hit from stay-at-home orders. Lockdowns are a contributor to the oil price gyrations you're currently seeing. Here's what it means for you.