Category: Business

U.S. SEC official urges delay in public comment on agency rule changes

The U.S. Securities and Exchange Commission’s lone Democratic commissioner on Friday called for a delay in pending rule changes due to the coronavirus outbreak, while cautioning against excessive regulatory relief in the rush to assist companies struggling with fallout from the pandemic. Commissioner Allison Lee said the agency ought to allow an additional 60 days […]

U.S. airlines apply for U.S. payroll help but terms still unclear

Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed during a sharp downturn resulting from the coronavirus outbreak, but while talks over the terms were expected to continue in coming days some warned the funds would not be enough to help them through their toughest crisis […]

Saudi Arabia denies withdrawing from OPEC+ deal, says Russia was the one that withdrew

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 is not correct, and that Russia is the one that withdrew, state agency (SPA) reported. Foreign Minister Prince Faisal bin Farhan Al Saud added that the kingdom’s stance on shale […]

OPEC+ debates biggest-ever oil cut, awaits U.S. efforts

OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of worldwide supply in what they expect will be a global effort including the United States, but the White House did not make such a commitment after a Friday meeting with oil companies. While U.S. President […]

Wall Street Week Ahead: Investors look to coronavirus data to support stabilizing markets

Investors are parsing a broad range of signals, from infection counts to more traditional indicators, for clues on the trajectory markets may take in coming weeks as the pandemic caused by the novel coronavirus continues to spread. Some point to signs that the worst of a vicious sell-off that took the S&P 500 down as […]

Mexican president calls on Russia, Saudi Arabia to end oil price war

Mexican President Andres Manuel Lopez Obrador on Saturday called on Russia and Saudi Arabia to reach a deal soon and end their oil price war to avoid deepening the oil price crisis. Mexico and others have seen the prices for their crude exports battered in recent weeks after the fallout from the new coronavirus eroded […]

The watchdogs overseeing the $2.3 trillion U.S. bailout

Who’s watching over the U.S. government’s largest bailout in history – the $2.3 trillion in fiscal stimulus to fight the economic impact of the coronavirus? Four different watchdogs made up of federal government officials and members of Congress have been created. None of these groups will have any direct control over where any of the […]