Category: Business

Oil prices rose on Wednesday on an upbeat forecast for global economic recovery and as U.S. gasoline inventories plummeted, but prices were limited due to a surge in crude oil inventories in the aftermath of last month’s Texas winter storm. Brent crude settled at $67.90 a barrel, gaining 38 cents, or 0.6%. U.S. West Texas […]

The U.S. Transportation Department on Tuesday awarded nearly $10 billion to U.S. airports struggling with a massive falloff in travel demand because of the coronavirus pandemic. Congress approved the money late last month and the department has previously awarded $25 billion to public transit systems and $1 billion to U.S. passenger railroad Amtrak. The awards […]

Saudi Aramco, the world’s largest oil producer, is in early talks with banks for a loan of about $10 billion to help finance its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC), according to three banking sources. Aramco (2222.SE) agreed last year to buy the controlling stake in SABIC from the kingdom’s […]

J.C. Penney Co Inc (JCP.N) has approached consulting firm AlixPartners LLP as the U.S. retailer looks at options for managing its debt, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. Brick-and-mortar retailers are struggling to keep up with the shift to online shopping, and the crisis has been exacerbated by the […]

Qatar Airways and Standard Chartered have signed an $850 million financing deal for seven Boeing 787-9 aircraft, a statement from the Qatari airline said on Tuesday.

U.S. import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, pointing to import deflation that could deepen amid the coronavirus pandemic. The report from the Labor Department on Tuesday followed data last week showing the biggest decline […]

G7 finance leaders agreed on Tuesday on the need to provide financial and technical assistance to emerging economies battling with the fallout from the coronavirus pandemic, Japanese Finance Minister Taro Aso said. The finance leaders of the Group of Seven advanced economies discussed the need for a coordinated response to deal with the damage the […]