International financial news | GC Pelliron
Commodity currencies drew support on Thursday from hopeful signs the coronavirus pandemic may be peaking and that major oil producers may agree to cut output to stem a plunge in oil prices.
Global automakers reeling from the COVID-19 pandemic are accelerating efforts to restart factories from Wuhan to Maranello to Michigan, using safety protocols developed for China and U.S. ventilator production operations launched in recent weeks.
Zoom Video Communications Inc has tapped former Facebook security chief Alex Stamos as an adviser as safety and privacy concerns about its fast-growing video-conferencing app drive a global backlash against the company.
Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices.
Exxon Mobil Corp used economic uncertainty tied to the coronavirus pandemic to urge workers at its lubricants and packaging plant in Paulsboro, New Jersey, to vote for a proposed contract, according to two sources familiar with the matter.
Home rental firm Airbnb will block British bookings on its platform for the vast majority of customers on Thursday, allowing only key workers to stay in properties for as long as emergency government coronavirus restrictions are in place.
Mexico's president threw himself into a new confrontation with businesses on Wednesday, accusing big companies of not paying taxes and upbraiding others for laying off workers during the coronavirus crisis.
Crude futures rose on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with the coronavirus-driven collapse in global oil demand.
Risk-sensitive currencies climbed on Thursday on budding optimism the coronavirus pandemic may be peaking although the euro was dented by the European Union's failure to agree on more support for their weakened economies.
Mexican President Andres Manuel Lopez Obrador said on Wednesday the domestic auto sector can resume operations shortly after the U.S. industry gears up from a coronavirus-led halt, to avoid further disruption to closely interconnected supply chains.
OPEC and Russia meet on Thursday to try to agree to record oil output cuts but their efforts to address the slump in prices wrought during the coronavirus pandemic have been complicated by mutual animosity and the reluctance of the United States to join the action.