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OPEC+ debates biggest-ever oil cut as pandemic crushes demand

OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic.



4 years ago

Constellation Brands says Mexico breweries still running amid coronavirus outbreak

Constellation Brands Inc , the U.S. distributor of Corona beer, said on Friday its Mexican breweries were still operational and supply to the United States was intact even as rivals suspended production due to the coronavirus pandemic.



4 years ago

CCI tells feds emergency wage subsidy must be expanded to support Canadian tech

Betakit | Meagan Simpson | April 2, 2020 The Council of Canadian Innovators (CCI) and its members are calling on the federal government to make adjustments to the 75 percent emergency wage subsidy, arguing that it does little to support Canada’s tech sector. The CCI is recommending that the government expand the eligibility criteria for

4 years ago

Exclusive: Amazon to delay Prime Day sales event due to coronavirus

Amazon.com Inc is postponing its major summer shopping event Prime Day at least until August and expects potentially a $100 million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.



4 years ago

3M warns against Trump's order to limit face mask exports

3M Co said on Friday it would make more face masks for the United States to fight the coronavirus pandemic, but warned of the "humanitarian implications" of limiting supply to other countries as President Donald Trump directed.



4 years ago

Hedge fund Glenview off 30% as coronavirus weighs on portfolio

Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30% in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and hospital operators the firm has invested in.



4 years ago

Cisco's Webex draws record 324 million users in March

Cisco Systems Inc's video-conferencing app Webex registered a record 324 million attendees in March, with usage more than doubling in the Americas, as the coronavirus-led lockdowns forced businesses to have employees work from home.



4 years ago

Do I need to file a tax return to get a coronavirus stimulus check? Here are answers to more of your top questions

Coronavirus stimulus checks are coming. Do I need to do anything to get paid? Here's what we know so far about delivery dates, who should file with the IRS now and who is and isn't eligible for financial relief.

4 years ago

Russia says U.S. has legal curbs on oil output cuts, but should be flexible

Russian Energy Minister Alexander Novak said on Friday that the United States has legal restrictions on oil output cuts, but the country should be flexible with them, RIA news agency reported.



4 years ago

Richmond Fed's Barkin: Employment numbers to get worse before getting better

U.S. employment numbers will get worse amid the ongoing coronavirus outbreak before getting better, Richmond Federal Reserve President Thomas Barkin said in an interview with Bloomberg News.



4 years ago

Wall Street falls as coronavirus cuts into U.S. payrolls

Wall Street's main indexes fell on Friday as the coronavirus abruptly ended a record U.S. job growth streak of 113 months, leaving little doubt that the economy is in a recession.



4 years ago

American Airlines applies for U.S. payroll assistance grants

American Airlines, the largest U.S. airline, confirmed Friday it has applied to the U.S. Treasury for a chunk of the $25 billion payroll assistance grants approved by Congress last week.



4 years ago

Global currency funds notch wins amid coronavirus volatility

Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets.



4 years ago

The watchdogs overseeing the $2.3 trillion U.S. bailout

Who's watching over the U.S. government's largest bailout in history - the $2.3 trillion in fiscal stimulus to fight the economic impact of the coronavirus?



4 years ago

JPMorgan says now accepting applications for federal loan program

JPMorgan Chase & Co , the largest U.S. lender by assets, started accepting at Friday midday applications for loans from the federal government's paycheck protection program, according to a post on the bank's website.



4 years ago