Power producer PG&E Corp said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition to those financing commitments.
Most Asian shares fell on Tuesday a day after Wall Street's historic market rout, with fleeting initial gains evaporating as the coronavirus remained a major risk to economic growth.
Oil prices rose more than $1 on Tuesday as the recent sharp falls due to the coronavirus pandemic encouraged bargain hunters to come forward, although the market remains volatile as the spread of the infection disrupts economies and hurts demand.
Nordstrom Inc said on Monday it would temporarily shut its stores in the United States and Canada and pull its fiscal 2020 forecast, as the upscale retailer joins its peers in an effort to limit the spread of the coronavirus.
There are millions of small and mid-sized businesses in the U.S. with 500 employees or less. If the SBA has $50 billion and makes $1 million emergency loans, it could help 50,000 firms.
Asian shares fell on Tuesday in a topsy-turvy session following one of Wall Street's biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment.
Stock markets and the dollar were roiled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to break a logjam in global lending markets.
A massive rollout of easing measures by the Federal Reserve served to deepen some investors' anxiety over how effectively policymakers will be able to mitigate the economic damage from a spreading coronavirus pandemic.
American Airlines Inc said Saturday it plans to cut 75% of its international flights through May 6 and ground nearly all its widebody fleet, as airlines respond to the global collapse in travel demand due to the coronavirus pandemic.
Israel plans to use anti-terrorism tracking technology and a partial shutdown of its economy to minimise the risk of coronavirus transmission, Prime Minister Benjamin Netanyahu said on Saturday.
Oil giant Saudi Aramco on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to "rationalize" capital spending in the wake of the coronavirus outbreak.
Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.
A rush to safety amid a massive drop in stocks has stretched prices for haven assets, leaving investors fewer places to hide in the wake of a freshly-minted bear market.
Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company.
Saudi Arabia's state-run oil giant Saudi Aramco announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts' expectations just three months after selling shares to the public in a record-setting IPO.