BP's profit tumbles, debt climbs as coronavirus crisis hammers oil demand

LONDON (Reuters) – BP’s (BP.L) first quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major’s debt rose sharply as it warned of exceptional uncertainty ahead. London-based BP said it expected significantly lower refining

U.S. payroll protection program: What has changed in round two?

WASHINGTON (Reuters) – The Small Business Administration on Monday began to allow lenders to process $310 billion in funds for the second round of its program that aims to help small businesses, hurt by the novel coronavirus disruption, to cover

U.S. core capital goods orders eke out surprise gain

WASHINGTON (Reuters) – New orders for key U.S.-made capital goods unexpectedly rose in March, but the gains are unlikely to be sustainable amid the novel coronavirus outbreak, which has virtually shut down the country and contributed to a collapse in

Futures rise at the end of stormy week

(Reuters) – U.S. stock index futures gained on Friday with bargain hunters returning at the end of a tumultuous week marked by a record collapse in oil prices and growing evidence of the economic damage from the coronavirus pandemic. The

South Africa's SAA faces wind-down or liquidation, rescue team says

JOHANNESBURG (Reuters) – Specialists appointed to try to save state-owned South African Airways (SAA) said on Thursday that they had no further funds for rescue efforts and that the two remaining options were a wind-down process or placing the company

Stocks pause before key EU meeting on coronavirus aid

LONDON (Reuters) – Caution gripped markets on Thursday, with stocks falling before a key Eurogroup meeting to discuss joint stimulus measures, offsetting optimism from a fresh round of U.S. coronavirus aid and a recovery in oil prices. The U.S. Congress

Detroit automakers, UAW to continue talks over reopening U.S. plants

(Reuters) – The United Auto Workers (UAW) said late Wednesday discussions are still underway with Detroit’s Big Three automakers to safely restart U.S. production halted by the coronavirus pandemic. General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler