Oil plunges posting fifth straight weekly loss despite stimulus efforts
Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers...
U.S. airlines cheer government relief, warn weak demand may still force downsizing
United Airlines Holdings Inc and Delta Air Lines pledged to maintain staff until Sept. 30 thanks to a government relief package passed on Friday, but...
Wall Street ends recovery week on a sour note
Wall Street fell on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus...
U.S. regulators give banks relief on accounting standard, derivatives rule
U.S. banking regulators told banks Friday they could ignore the capital implications of a new accounting standard for two years and adopt early a new,...
U.S. consumer sentiment near three-and-a-half year low, spending sluggish
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in...
ECB tells euro zone banks to skip payouts as virus hits economy
The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their...
Hedge fund Fir Tree puts $410 million dislocation fund to work
After years of waiting and watching from afar, hedge fund Fir Tree Partners is spending $410 million from its dislocation funds on stocks, pockets of...
New York Fed sets fee structure and terms for agreement with BlackRock
The New York Federal Reserve released the fee structure and terms for its agreement to hire the asset management firm BlackRock to guide some of...
Global oil refiners shut down as coronavirus destroys demand
The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging...
Factbox: Carmakers churn out machines, masks to help fight coronavirus
Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated...