OPEC+ agrees largest ever oil output cut of 9.7 million bpd: sources
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support...
Smithfield shutting U.S. pork plant indefinitely, warns of meat shortages during pandemic
Smithfield Foods, the world’s biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among...
OPEC, Russia meet again to approve biggest ever oil cut
OPEC, Russia and other oil producing nations were meeting on Sunday in a bid to clinch a deal on the biggest oil cut ever, amounting...
OPEC, allies to confer on Sunday to try to end standoff over cuts plan: sources
OPEC and its allies will hold a virtual meeting on Sunday evening in a bid to end a standoff that has prevented the finalisation of...
Seen everywhere in last U.S. crisis, moral hazard is nowhere in this one
As the U.S. Federal Reserve rolls out trillions of dollars to blunt the economic fallout of the coronavirus pandemic, there’s a notable difference to the...
Malaysia’s AirAsia founders not taking salary; staff accepts up to 75% pay cut
The founders of Malaysia’s AirAsia Group Bhd will not take salaries and its staff has agreed to an as much as 75% cut in pay...
U.S. senators press Saudi officials to put oil cut in motion
Republican U.S. senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three...
Airlines want U.S. Treasury to scrap proposal to make some grant money repayable
Major U.S. airlines were urging Treasury officials and the federal government’s outside advisers on Saturday to scrap or revise a proposal that would make part...
Exclusive: JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens
JPMorgan Chase & Co , the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as the bank...
Exclusive: Macy’s taps Lazard to bolster finances as coronavirus saps sales – sources
Macy’s Inc has hired investment bank Lazard Ltd to explore options for bolstering its finances after the department store operator lost most of its revenue...