OPEC+ Ministers Hold Impromptu Call to Reflect on Price Rout
Oil ministers from the OPEC+ coalition held an unscheduled conference call on April 21 to discuss the collapse in crude prices, though a closing statement signaled they didn’t settle on any new policy measures.
April 21, 2020Oil Plunges Below Zero for First Time in Unprecedented Fall
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.
April 20, 2020Food Makers See Issues Now that Panic Buying Has Waned
Some of America’s largest food companies are finally feeling the pinch with restaurants across the U.S. remaining closed for weeks as a result of the coronavirus pandemic.
April 16, 2020Mnuchin Rebuffs Airlines, Holds Firm on Repayment for Rescue
Treasury Secretary Steven Mnuchin is not budging on strict repayment guidelines for airlines that want taxpayer aid, according to people familiar with the matter, dashing the industry’s hopes for leniency.
April 13, 2020Airlines Squeezed by Delays in $29 Billion US Rescue Funds
U.S. airlines’ desperate bid for $29 billion in government rescue cash is being frustrated by a lengthening process and demands that companies provide more detailed financial information, people familiar with the situation said.
April 9, 2020Tesla Plans No-Pay Furloughs, Salary Cuts While Plants Idled
Tesla Inc. will furlough noncritical employees without pay and temporarily cut executive salaries as much as 30% to conserve cash while the coronavirus pandemic forces the shutdown of much of its operations.
April 8, 2020Ship Crews Stuck in Lockdown Strain Global Supply Chains
Port restrictions and canceled flights are straining the ability to replace seafarers on board ships, further weakening global supply chains already snarled by the coronavirus pandemic.
April 7, 2020Truckers Work to Overcome Difficulties in Food Supply Chain
Truckers hauling food are facing delays across the globe in the latest disruption to supply chains snarled by the coronavirus pandemic.
April 3, 2020Biofuel Plants Are Shutting Down and Some May Never Come Back
The coronavirus and cheap oil are hitting the fuel business so hard that ethanol plants are shutting down. Some may never come back.
March 28, 2020Trump Invokes Production Law, Ordering GM to Build Ventilators
President Donald Trump on March 27 ordered General Motors Co. to make ventilators for coronavirus patients, invoking a federal law that gives him vast powers over industry in crises and acting as the company is within weeks of starting production on the equipment.
March 27, 2020