U.S. oil output growth from the Permian basin is expected to offset declines in every other shale formation in April, helping push overall production up by about 18,000 barrels per day (bpd) to a record 9.08 million bpd, data showed on Monday.
U..S. airports are seeking $10 billion in U.S. government assistance to help offset losses incurred by the sharp drop in travel due to coronavirus, two people briefed on the matter said.
Boeing Co's shares plunged another 20% on Monday, erasing all gains recorded during ousted CEO Dennis Muilenburg's tenure, as the mounting economic fallout of the coronavirus pandemic added to uncertainty around the 737 MAX's return to service.
Major airlines sought a U.S. government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand.
Oil prices fell below $30 a barrel on Monday as the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.
LATAM Airlines Group, the continent's largest carrier, on Monday canceled 90% of its international flights as demand collapsed and countries shut down borders in light of the coronavirus outbreak, leaving the region increasingly isolated.
Airbus has drawn up contingency plans to slow or stop production if France is placed under a drastic lockdown due to coronavirus, two people familiar with the matter said.
Starbucks Corp closed its dine-in areas for at least two weeks at its U.S. and Canadian stores and shifted completely to "to go" service, as restaurants look to curb the rapid spread of the coronavirus outbreak.
Uber Technologies Inc's food delivery business, Uber Eats, said on Monday it would waive delivery fee for independent restaurants across the United States and Canada.
A group representing major U.S. airlines said the industry needs $50 billion in grants and loans to survive the dramatic falloff in travel demand from the coronavirus outbreak.
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Several automakers on Monday said U.S. buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if impacted by shutdowns due to the spread of coronavirus.
U.S. gasoline refining margins fell to the lowest since December 2008 on Monday, as the spread of coronavirus intensified in the United States, disrupting daily life for Americans who have been told to stay indoors and off the road.
The United States and other rich countries need to start spending their way out of the coronavirus crisis, White House advisers, the International Monetary Fund and business groups said Monday, amid growing market panic about the pandemic.