Exxon Mobil Corp on Tuesday throttled back investment in shale, natural gas and deep water production, cutting planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices tumble.
Wall Street rose on Tuesday as early signs of a slowdown in coronavirus cases in U.S. hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working.
Southwest Airlines Co said on Tuesday it would publish this week a new flight schedule for June 6 to June 27 with overall flight activity dropping by about 50% while taking into account "different phases of the recovery anticipated ahead."
Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus travel downturn and the industry's representative body said airline finances were so fragile they could not afford to refund customers.
The COVID-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year, equivalent to the labour of 195 million full-time workers, the International Labour Organization (ILO) said on Tuesday.
The Trump administration is aiming to reopen the U.S. economy when the nation's top health experts give the go-ahead, but Americans' lives will be drastically different, White House economic adviser Larry Kudlow said on Tuesday.
Honda Motor Co and Nissan Motor Co on Tuesday said they had furloughed thousands of workers at their U.S. operations as the coronavirus pandemic slashes demand for cars in the country.
WeWork's owner, The We Company, has sued SoftBank Group , challenging its largest shareholder's decision to terminate a $3 billion tender offer for shares in the office-space sharing firm.
Some small businesses may not benefit from the Paycheck Protection Program's forgivable loans as much as they think.
Wall Street rose on Tuesday on early signs of the coronavirus outbreak plateauing in some of the biggest U.S. hot spots, with the New York state's governor saying social distancing measures to curtail the spread of the virus were working.
In an unprecedented move, the IRS is allowing its employees to accept tax documents via email, along with images of signatures, to avoid human contact during the coronavirus pandemic. This has raised concern about personal security.
Lufthansa said it will close down its Germanwings low-cost airline as part of a broader overhaul which includes cutting capacity across the group, warning it could take years for the industry to recover from the coronavirus crisis.
There needs to be an agreement on oil production numbers before any future meeting between OPEC and non-OPEC members, Iran's Oil Minister Bijan Zanganeh tweeted on Tuesday.
Exxon Mobil Corp said on Tuesday the start of production at its Payara project in Guyana, its third major development in the world's newest offshore oil hotspot, could be delayed as the company scales back spending due to the crude price crash.
AT&T Inc. on Tuesday announced a $5.5 billion term-loan agreement, which it said would give the company "financial flexibility" during the coronavirus outbreak.