U.S. President Donald Trump has invited oil executives to the White House to discuss potential ways to help the industry hammered by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia, three sources familiar with the matter said on Wednesday.
Oil prices fell on Wednesday after U.S. crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic.
The global crisis caused by the coronavirus pandemic will be felt throughout oil's global supply chains and ripple into other parts of the energy sector, the International Energy Agency (IEA) said in a report on Wednesday.
The dollar advanced on Wednesday, with markets bracing for what is shaping up to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
Multi-strategy hedge funds - those that bet on a broad array of markets using teams of traders, leverage and centralized risk management - have flourished as stocks ended their worst three months since the 2008 financial crisis.
The coronavirus crisis is likely to cut home and office building prices, may lead to a permanent shift in the demand for office space, and could push highly indebted households and companies toward default, Boston Federal Reserve bank president Eric Rosengren said on Wednesday.
The Treasury Department issued guidelines Tuesday about the $349 billion paycheck protection program, part of the $2 trillion economic bailout package signed into law last week.
The U.S. benchmark S&P 500 stock index fell more than 4% on Wednesday after a dire warning on the U.S. death toll from the coronavirus sent investors running from even the most defensive equities.
Economic stimulus legislation that was passed by Congress last week calls for sending checks of $1,200 for individuals and $2,400 for couples. While individuals who don't typically file tax returns are eligible, they may have to put in that paperwork before they get paid. Both lawmakers and advocacy groups are pushing back on that requirement.
McKinsey & Company | By Philip B, Reet C., Olivier D., Tobias L., and Marc N | March 2020 The challenges are immediate, with long-term implications for global, regional, and local economies—and for the payments industry itself. Here’s what to expect. Any projection of industry performance rests on assumptions about overall economic activity. The outlook
Nissan Motor Co said on Wednesday its U.S. auto plants will remain closed through late April to help reduce the spread of the coronavirus.
Starbucks Corp on Wednesday said it will extend special coronavirus provisions, including pay increases for workers and closed dining areas, for two weeks to May 3.
Wall Street's three major indexes fell more than 4% on Wednesday, after President Donald Trump's dire warning on the U.S. death toll from the coronavirus sent investors running from even the most defensive equities.
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors Co moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online.
Just two months after taking office, President Donald Trump in March 2017 traveled to Michigan to announce that he would undo ambitious vehicle emissions standards mandated under his predecessor Barack Obama, portraying the reversal as a boost to the U.S. auto industry centered in the Midwestern state.