Battered U.S. oil ETF to diversify investment in later-dated oil contracts
The United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, is moving to spread out its investments in oil futures...
Sycamore Partners backs out of coronavirus-stricken deal for Victoria’s Secret
Buyout firm Sycamore Partners disclosed on Wednesday it had walked away from a $525 million deal to acquire a majority stake in Victoria’s Secret, after...
CSX pulls financial forecasts as profit and U.S. railroad volumes fall
U.S. railroad operator CSX Corp on Wednesday withdrew its financial forecasts and said it was evaluating future spending as business shutdowns triggered by the COVID-19...
Boeing is sued for $336 million over canceled 737 MAX order
Boeing Co was sued for $336 million on Wednesday by a Kuwaiti leasing company that accused it of wrongly refusing to return advance payments on...
Boeing 737 program chief to oversee commercial programs
The head of Boeing’s 737 program has been tapped to oversee the planemaker’s commercial programs as the company works to win approval to return the...
Global air traffic could drop by up to 1.2 billion passengers: ICAO
International air passenger traffic could drop by as many as 1.2 billion travelers, or two-thirds, by September 2020, as the coronavirus pandemic weighs on demand,...
TechnipFMC cuts executive pay and dividend as pandemic fallout bites
Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its...
EU says air travel will need social distancing, U.S. airlines taking their own steps
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus lockdowns end, including social distancing...
Reeling Oklahoma oil producers win right to keep leases while wells shut
Oklahoma’s energy regulator said oil producers can close wells without losing their leases, the first victory for struggling U.S. companies seeking relief from states following...
Xilinx forecasts current-quarter revenue below estimates
Xilinx Inc on Wednesday forecast first-quarter revenue below estimates and refrained from providing an annual outlook, citing the uncertainty caused by the coronavirus outbreak....