OPEC and other oil nations held talks on Thursday on record production cuts of up to 20 million barrels per day, equivalent to about 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.
Top managers at UBS will each contribute the equivalent of three months' salary to fight the coronavirus, its chief executive Sergio Ermotti said on Thursday after the Swiss bank bowed to pressure to suspend its dividend.
Oil prices jumped on Thursday after sources said Russia and Saudi Arabia have a new deal to cut oil output drastically in response to a collapse in global demand from the coronavirus.
The U.S. economy could be headed "fairly quickly" toward recovery if people stay home, government gets aid to businesses and households, and public health officials create a national plan to restart the economy, Federal Reserve Chair Jerome Powell said on Thursday.
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy going again when the time is right, a senior administration official said on Thursday.
Gorman, 61, is the first Wall Street CEO to disclose that he has tested positive for the coronavirus.
OPEC and it allies held talks on Thursday on record oil output curbs of 15 million to 20 million barrels per day (bpd), or 15% to 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said.
Wall Street rose for the third time in four days on Thursday as the U.S. Federal Reserve rolled out a massive $2.3 trillion program to bolster local governments and businesses hammered by the coronavirus outbreak.
Fewer people itemized deductions when they filed their taxes in 2018, which meant they left a number of write-offs on the table last year. Here are four deductions that taxpayers didn't take.
British American Tobacco said on Thursday it had sued Philip Morris International Inc in the United States and Germany, alleging that the tobacco heating technology used in its bigger rival's IQOS devices infringed its patents.
Russian Energy Minister Alexander Novak said on Thursday that all the leading global oil producers should join their efforts to tackle falling oil demand.
Russia and Saudi Arabia have overcome differences that had presented potential hurdles to a plan for major oil output cuts aimed at shoring up crude prices hammered by the coranavirus crisis, the head of Russia's wealth fund said on Thursday.
OPEC and its allies, a group known as OPEC+, are discussing plans to cut oil production for at least two years with reductions implemented gradually, two OPEC+ sources said on Thursday.
OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
U.S. House Speaker Nancy Pelosi said on Thursday the country's smallest businesses need to be protected against the ravages of the coronavirus outbreak and pushed for $60 billion to be allocated to those enterprises in the next funding allocation.