WASHINGTON (Reuters) – U.S. President Donald Trump said on Saturday he would impose tariffs on crude imports if he has to “protect” U.S. energy workers from the oil price crash that has been exacerbated by a war between Russia and Saudi Arabia over market share. U.S. President Donald Trump addresses the daily coronavirus task force […]
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Trump says if he has to put tariffs on oil imports to protect energy workers he will
U.S. President Donald Trump answers a question during the daily coronavirus task force briefing at the White House in Washington, U.S., April 4, 2020. REUTERS/Joshua Roberts WASHINGTON (Reuters) – President Donald Trump said on Saturday he would put tariffs on imports of crude oil or take other measures if he has to protect energy workers […]
Read MoreCapital One says it won’t use CFTC waiver related to oil lending
WASHINGTON (Reuters) – U.S. lender Capital One Financial Corp (COF.N) said on Saturday it would not use a U.S. Commodity Futures Trading Commission (CFTC) waiver after commodity price volatility lifted the bank’s derivatives exposure toward a key regulatory threshold. FILE PHOTO: People walk past a Capital One banking center in New York’s financial district January […]
Read MoreExclusive: Amazon in contact with coronavirus test makers for potential screenings on employees
(Reuters) – Amazon.com Inc has been in contact with the CEOs of two coronavirus test makers as it considers how to screen its staff and reduce the risk of infection at its warehouses, according to internal meeting notes seen by Reuters. FILE PHOTO: A worker in a face mask walks by trucks parked at an […]
Read MoreMexican president calls on Russia, Saudi Arabia to end oil price war
Mexico’s President Andres Manuel Lopez Obrador speaks during a news conference at National Palace in Mexico City, Mexico April 1, 2020. Mexico’s Presidency/Handout via REUTERS ATTENTION EDITORS – THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Saturday called on […]
Read MoreTrump says will ask Congress for more small business funds if money runs out
U.S. President Donald Trump addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 3, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump said on Saturday he would ask Congress for more money to make loans to small businesses struggling with the economic fallout from the coronavirus outbreak […]
Read MoreOPEC+ meeting delayed as Saudi Arabia and Russia row over oil price collapse: sources
DUBAI/MOSCOW (Reuters) – OPEC and Russia have postponed a meeting due on Monday to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a row between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified. FILE PHOTO: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman […]
Read MoreU.S. dairy farmers dump milk as pandemic upends food markets
CHICAGO (Reuters) – Dairy farmer Jason Leedle felt his stomach churn when he got the call on Tuesday evening. FILE PHOTO: The milking parlor at the Eble family’s Golden E Dairy farm near West Bend, Wisconsin, U.S., April 1, 2020. Mark Hoffman/Milwaukee Journal Sentinel/USA TODAY via REUTERS “We need you to start dumping your milk,” […]
Read MoreOPEC+ meeting delayed as Saudi Arabia and Russia row over price collapse
DUBAI/MOSCOW (Reuters) – OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging oil prices. FILE PHOTO: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia’s Energy […]
Read MoreHow the coronavirus job cuts played out by sector and demographics
(Reuters) – The job losses suffered in March as the U.S. economy shut down in the face of the novel coronavirus pandemic were widespread but still were disproportionately felt in a handful of employment sectors and by women, the young and the less educated. Colorized scanning electron micrograph of an apoptotic cell (red) infected with […]
Read MoreExclusive: Amazon in contact with coronavirus test makers as it plans pandemic response
(Reuters) – Amazon.com Inc has been in contact with the CEOs of two coronavirus test makers as it considers how to screen its staff and reduce the risk of infection at its warehouses, according to internal meeting notes seen by Reuters. FILE PHOTO: A worker in a face mask walks by trucks parked at an […]
Read MoreTesla cuts contractors from California, Nevada factories: CNBC
FILE PHOTO: The view of Tesla Inc’s U.S. vehicle factory which was open for business on March 18, despite an order by the Alameda county’s sheriff’s office to comply with a three-week lockdown in the San Francisco Bay Area, in order to rein in the spread of coronavirus disease (COVID), in Fremont, California, U.S., March […]
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Saudi energy minister rejects Russian comments about kingdom’s withdrawal from OPEC+ deal
CAIRO (Reuters) – The Saudi energy minister on Saturday rejected Russia’s remarks that the kingdom withdrew last month from a deal to cut output. Prince Abdulaziz bin Salman was responding to comments made by his Russian counterpart on Friday, according to a statement carried by Saudi state news agency SPA. “The Russian Minister of Energy […]
Read MoreSaudi Arabia denies withdrawing from OPEC+ deal, says Russia was the one that withdrew
FILE PHOTO: Saudi Arabia Foreign Minister Prince Faisal bin Farhan Al Saud is welcomed by his Bulgarian counterpart Ekaterina Zaharieva in Sofia, Bulgaria, January 29, 2020.REUTERS/Dimitar Kyosemarliev CAIRO (Reuters) – The Saudi foreign minister said early on Saturday that a statement attributed to Russia’s President Vladimir Putin about the kingdom’s withdrawal from the OPEC+ deal […]
Read MoreWhy sweetened layoff benefits may be at odds with U.S. loan program
WASHINGTON/SAN FRANCISCO (Reuters) – The generous U.S. unemployment benefits rolled out to blunt the economic harm caused by the coronavirus could have an unintended effect: it may actually be an incentive for companies to choose layoffs rather than keep staff on their books. FILE PHOTO: Treasury Secretary Steven Mnuchin addresses the daily coronavirus response briefing […]
Read MoreU.S. warns airlines to quickly refund tickets after canceled flights
FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford WASHINGTON (Reuters) – The U.S. Transportation Department on Friday issued a notice to airlines reminding them […]
Read MoreTrump invokes Defense Production Act to stop export of masks
U.S. President Donald Trump speaks during a roundtable with energy sector CEOs in the Cabinet Room of the White House in Washington, U.S., April 3, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump on Friday signed an order directing his administration to stop N-95 face masks and other personal protective equipment needed in […]
Read MoreBerkshire Hathaway sells part of Delta, Southwest airline stakes
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett seen at the annual Berkshire shareholder shopping day in Omaha, Nebraska, U.S., May 3, 2019. REUTERS/Scott Morgan/File Photo (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it sold about 18% of its stake in Delta Air Lines Inc (DAL.N) and 4% of its holdings in […]
Read MoreGM reduces loan refinancing target, may pay up for new debt
NEW YORK (LPC) – General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US. FILE PHOTO: The GM logo is seen at the General Motors Assembly Plant in Ramos Arizpe, […]
Read MoreU.S. businesses swarm coronavirus bailout fund after days of confusion
(Reuters) – Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government’s $349 billion small business bailout fund, which officially launched in the morning. FILE PHOTO: Treasury Secretary Steven Mnuchin discusses details for economic relief during the daily coronavirus response briefing […]
Read MoreMexico without Corona: Brewers suspend production during pandemic
MEXICO CITY (Reuters) – Mexicans fretted about beer supplies on Friday after Dutch brewer Heineken said it will suspend production at its seven plants in Mexico to comply with coronavirus containment measures, following a similar announcement by rival Modelo. A man walks past a logo at the Cuauhtemoc Moctezuma brewery, a subsidiary of Heineken, after […]
Read MoreU.S. airlines apply for U.S. payroll help but terms still unclear
CHICAGO/WASHINGTON (Reuters) – Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed during a sharp downturn from the coronavirus, though the terms of any aid were still unclear and some warned that funds would not be enough to help them through their toughest crisis ever. FILE […]
Read MoreTrump aims to ease U.S. oil industry’s cash crunch, no plan to trim output: sources
(Reuters) – U.S. President Donald Trump has directed his cabinet to find ways to ease a cash crunch in the drilling industry after oil company executives told him in a Friday meeting it was among their top concerns, according to three sources briefed on the matter. U.S. President Donald Trump speaks during a roundtable meeting […]
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