(Reuters) – The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures CLc1, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel. FILE PHOTO: An oil pump jack
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(Reuters) – In the race to develop a vaccine to end the COVID-19 pandemic, governments, charities and Big Pharma firms are sinking billions of dollars into bets with extraordinarily low odds of success. FILE PHOTO: Small bottles labbeled with a “Vaccine COVID-19” sticker and a medical syringe are seen in this illustration taken taken April
FILE PHOTO: An employee of Japan Airlines (JAL), wearing protective mask following an outbreak of the coronavirus disease (COVID-19), is pictured at Kansai International Airport in Osaka, Japan, March 14, 2020. REUTERS/Edgard Garrido/File Photo TOKYO (Reuters) – Japan Airlines Co (9201.T) is discussing the possibility of securing financing totaling $2.8 billion from its lenders to
FILE PHOTO: KLM airline airplanes are seen parked, as Schiphol Airport reduces its flights due to the coronavirus disease (COVID-19) outbreak, in Amsterdam, Netherlands April 2, 2020. REUTERS/Piroschka van de Wouw AMSTERDAM (Reuters) – KLM, the Dutch subsidiary of Air France KLM (AIRF.PA), will receive 2-4 billion euros (up to $4.32 billion) in emergency aid
FILE PHOTO: Children’s Burberry clothes are seen on display at the Nordstrom flagship store during a media preview in New York, U.S., October 21, 2019. REUTERS/Shannon Stapleton/File Photo LONDON (Reuters) – British luxury brand Burberry (BRBY.L) will continue to pay its employees who are unable to fulfil their roles because of store or site closures
FILE PHOTO: The logo of Honda is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017. REUTERS/Arnd Wiegmann WASHINGTON (Reuters) – Honda Motor Co (7267.T) said Thursday it will extend a shutdown of all of its North American auto plants through May 8 and extend unpaid leaves for many
(Reuters) – Zoom Video Communications Inc (ZM.O) said on Wednesday it was upgrading the encryption features on its video conferencing app to quell safety concerns as its users surged by 50% in the past three weeks. Zoom now has over 300 million daily users after adding 100 million in the last 22 days, the company
FILE PHOTO: Automobiles are shown for sale at a car dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake/File Photo (Reuters) – Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at
TOKYO (Reuters) – Asian share markets were on the defensive on Wednesday as the floor fell out from under crude prices, sparking worries about further turmoil in the energy sector, already reeling from the heavy blow from global shutdowns. FILE PHOTO: People are seen on a pedestrian overpass with an electronic board showing the Shanghai
(Reuters) – Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies foreshadowed the worst economic slump since the Great Depression. The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New
(Reuters) – A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse. FILE PHOTO: An employee holds a sample of crude oil at the Yarakta oilfield, owned
FILE PHOTO: Sen. Bill Cassidy (R-LA) speaks with reporters ahead of the weekly policy luncheons at the U.S. Capitol in Washington, U.S., February 13, 2018. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – A U.S. Senate Republican and a Democrat proposed a $500 billion rescue package for state and municipal governments on Monday, as it became increasingly
SINGAPORE (Reuters) – Crude oil futures fell on Monday, with U.S. futures dropping more than 10% to levels unseen since 1999 amid concerns that U.S. storage facilities will soon be brimful with demand evaporating due to the coronavirus pandemic. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on
(Reuters) – Wynn Resorts Chief Executive Officer Matt Maddox on Sunday called on the Nevada governor to begin to reopen the Las Vegas Strip in mid- to late May with extensive safety measures in place, assuming the state is in line with certain benchmarks around the spread of the coronavirus. FILE PHOTO: Company logos are
WASHINGTON (Reuters) – U.S. banks are pushing the Federal Reserve to change the terms of a $600 billion lending program for small and medium-sized businesses, including reducing minimum loan sizes and allowing more flexibility on underlying reference rates, industry groups said. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S.,
(Reuters) – Amazon.com Inc has started to use thermal cameras at its warehouses to speed up screening for feverish workers who could be infected with the coronavirus, employees told Reuters. FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, November 5, 2019. REUTERS/Pascal Rossignol/File Photo The cameras in