Business News

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

Reuters Biz News - Fri, 04/03/2020 - 21:07
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.
Categories: Business News

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

Reuters Biz News - Fri, 04/03/2020 - 21:03
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 ever.
Categories: Business News

UPDATE 7-U.S. airlines apply for U.S. payroll help but terms still unclear

Reuters Company News - Fri, 04/03/2020 - 21:01
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 ever.
Categories: Business News

MEDIA-Apple supplier Flex targets production of 30,000 ventilators a month - Bloomberg News

Reuters Company News - Fri, 04/03/2020 - 20:58
-- Note: Reuters has not verified this story and does not vouch for its accuracy
Categories: Business News

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

Reuters Biz News - Fri, 04/03/2020 - 20:48
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.
Categories: Business News

Why sweetened layoff benefits may be at odds with U.S. loan program

Reuters Biz News - Fri, 04/03/2020 - 20:48
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.
Categories: Business News

Explainer: Antitrust law won't get in the way of U.S. acting to raise oil prices

Reuters Biz News - Fri, 04/03/2020 - 20:48
It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday.
Categories: Business News

U.S. warns airlines to quickly refund tickets after canceled flights

Reuters Biz News - Fri, 04/03/2020 - 20:47
The U.S. Transportation Department on Friday issued a notice to airlines reminding them they are obligated to refund tickets when they cancel a flight or make a significant flight schedule change that passengers opt not to accept, but will not take any immediate action against airlines.
Categories: Business News

Exxon plays on virus worries in Baytown contract talks: union official

Reuters Biz News - Fri, 04/03/2020 - 20:47
A union official accused Exxon Mobil Corp on Friday of using "scare" tactics and exploiting economic uncertainty caused by the coronavirus pandemic in negotiations with workers at its Baytown, Texas, refinery, allegations the company denied.
Categories: Business News

Trump invokes Defense Production Act to stop export of masks

Reuters Biz News - Fri, 04/03/2020 - 20:43
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 the fight against the coronavirus pandemic from being exported to other countries.
Categories: Business News

UPDATE 9-OPEC+ debates biggest-ever oil cut, awaits U.S. efforts

Reuters Company News - Fri, 04/03/2020 - 20:31
* U.S. officials suggest output would decline by itself (Adds comment from Saudi energy minister below first subhead)
Categories: Business News

A Hacker Found a Way to Take Over Any Apple Webcam

Wired RSS Feed - Fri, 04/03/2020 - 20:16
They've been patched, but the Safari vulnerabilities would have given an alarming amount of access.
Categories: Business News

Berkshire Hathaway sells part of Delta, Southwest airline stakes

Reuters Biz News - Fri, 04/03/2020 - 20:07
Warren Buffett's Berkshire Hathaway Inc said on Friday it sold about 18% of its stake in Delta Air Lines Inc and 4% of its holdings in Southwest Airlines Co this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest crisis ever.
Categories: Business News

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