The International Monetary Fund is looking to triple its concessional financing for the poorest countries to over $18 billion to help them respond to the novel coronavirus pandemic, Managing Director Kristalina Georgieva said on Wednesday.
United Airlines Holdings Inc told employees on Wednesday that it has cut its flight schedule by 90% in May and possibly June, and to prepare for a smaller airline and workforce starting as early as Oct. 1.
Oil rose on Thursday, with U.S. crude rebounding from near-20-year lows in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus pandemic.
Royal Caribbean Cruises Ltd said on Wednesday it would lay off or furlough about 26% of its workforce in the United States, affecting nearly 1,300 of its more than 5,000 employees in the country, as the coronavirus chokes international travel.
American semiconductor firm Xilinx Inc said on Wednesday it had won a deal to supply chips to Samsung Electronics Co Ltd for 5G networking equipment.
United Airlines Holdings Inc said on Wednesday that it has cut its flight schedule by 90% in May and expects similar cuts for June as a result of the coronavirus pandemic, and warned that travel demand that is now "essentially at zero shows no sign of improving in the near term," making job cuts likely.
World stock markets fell on Thursday, while bonds and the dollar held on to hefty gains, after a coronavirus-driven plunge in U.S. retail sales and factory production and increasing gloomy economic outlooks for Asia.
"Rule No. 1 for the new abnormal is that you stick with the winners and you leave the raggedy rest to the others," the "Mad Money" host said.
NCFA | April 15, 2020 Dear: Right Honourable Prime Minister Justin Trudeau Honourable Minister William Morneau Honourable Minister Navdeep Bains Honourable Minister Mary Ng re: Open Letter: Government should collaborate with Fintechs The Canadian government should recognize that FinTech companies can play a central role in distributing capital to small businesses and early-stage companies.
U.S. retail sales likely suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.
U.S. electric vehicle maker Tesla Inc's China car registrations jumped 450% in March, month on month, data from auto consultancy LMC Automotive showed.
Oil prices climbed on Wednesday, bouncing back from the previous session's large losses, as investors looked for bargains and supported by hopes that consuming countries will look to fill their strategic reserves.
Asian share markets took a breather on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.
Texas oilman Mike Shellman has kept his MCA Petroleum Corp going for four decades, drilling wells through booms and busts and always selling his crude to U.S. oil refiners.