Business

SYDNEY (Reuters) – Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases. FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field in

WASHINGTON (Reuters) – A top official at the U.S. Federal Reserve said on Sunday the $2.3 trillion economic relief bill approved by Congress was appropriately sized and that a further relief effort may not be needed if support efforts are well executed. FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a

(Reuters) – When Reuters photographer Carlos Barria boarded American Airlines flight 4511 from Washington Reagan National Airport to New Orleans on Friday for an assignment, he was the only passenger on the 76-seat jet. A flight attendant waits for the departure of a one-passenger flight between Washington and New Orleans as the spread of coronavirus

WASHINGTON (Reuters) – 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? FILE PHOTO: An empty street is seen during the outbreak of the coronavirus disease (COVID-19) in Brooklyn, New York City, U.S., March 27, 2020. Picture taken March

NEW YORK (Reuters) – Investors are parsing a broad range of signals, from infection counts to more traditional indicators, for clues on the trajectory markets may take in coming weeks as the pandemic caused by the novel coronavirus continues to spread. FILE PHOTO: A man wears a protective mask as he walks on Wall Street

FILE PHOTO: Fatih Birol, Executive Director of the International Energy Agency, speaks with the media during the International Energy Forum (IEF) in New Delhi, India, April 11, 2018. REUTERS/Altaf Hussain LONDON (Reuters) – Deep oil output cuts by OPEC and other producing nations would not be enough to prevent a huge build in global crude

SYDNEY (Reuters) – A full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had fallen to 23% of last year’s levels and around half the world’s airplane fleet is in storage. FILE PHOTO: A British Airways plane taxis past tail fins of parked aircraft

HAMBURG (Reuters) – The bosses of Volkswagen (VOWG_p.DE), BMW (BMWG.DE) and Daimler (DAIGn.DE) held a crisis call with German Chancellor Angela Merkel on Wednesday to discuss how to get production restarted, Germany’s Handelsblatt newspaper reported on Thursday. FILE PHOTO: German Chancellor Angela Merkel gives a media statement on the spread of the new coronavirus disease

NEW YORK (Reuters) – 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. General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, U.S., March 30, 2020.

(Reuters) – Kroger Co’s (KR.N) comparable sales surged about 30% in March as consumers stockpiled due to the coronavirus pandemic, and the grocer said it had borrowed $1 billion to boost its cash reserve as it prepared for any fallout from the health crisis. FILE PHOTO: The Kroger supermarket chain’s headquarters is shown in Cincinnati,

FILE PHOTO: An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/File Photo NEW YORK/WASHINGTON (Reuters) – The U.S. Department of Energy plans to announce as soon as Wednesday it will allow

FILE PHOTO: An aerial photo shows Gol Airlines, Southwest Airlines and Alaska Airlines Boeing 737 MAX aircraft at Boeing facilities at the Grant County International Airport in Moses Lake, Washington, September 16, 2019. REUTERS/Lindsey Wasson/File Photo WASHINGTON (Reuters) – Southwest Airlines Co (LUV.N) said Tuesday it will cut more than 40% of flights from May

FILE PHOTO: A woman passes by a JPMorgan Chase bank in Times Square in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – JPMorgan Chase & Co’s (JPM.N) alternative investments unit is looking to raise up to $10 billion to boost its spending power in the face of the coronavirus pandemic, a

NEW YORK (Reuters) – American Airlines Group Inc (AAL.O) is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said. FILE PHOTO: An American Airlines airplane sits

SYDNEY (Reuters) – Asian share markets looked set for a rocky start on Monday as U.S. stock futures took an early spill amid fears the global shutdown for the coronavirus could last for months, doing untold harm to economies. FILE PHOTO: Passersby wearing protective face masks following an outbreak of the coronavirus disease (COVID-19) are

LONDON (Reuters) – Governments and central banks need to step up efforts urgently to support their economies in the face of the coronavirus crisis, the head of the Bank for International Settlements said on Sunday. FILE PHOTO: Bank of Mexico Governor Agustin Carstens gestures during the delivery quarterly report from the Bank of Mexico in