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Reuters BusinessApr 10, 2020
Kremlin: Putin and Trump discuss OPEC oil cuts deal
Russian President Vladimir Putin and U.S. President Donald Trump, in a phone call on Friday, discussed a potential global deal on oil production cuts by the group known as OPEC , the Kremlin said.

Yahoo BusinessApr 10, 2020
How the Pandemic Wiped Out Oil Demand Around the World
(Bloomberg) -- Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel.Currently, between a third and a half of the world's population are in lockdown, meaning few people are driving, flying or doing much that would require the use of crude or its derivatives.The ramifications for the oil market are huge, with refiners, producers and even petrostates all facing uncertain futures. The most immediate set of data from America starkly illustrated the impact. On Wednesday, the U.S. Energy Information Administration reported U.S. drivers consumed the least gasoline for at least 30 years, as normal life ground to a halt.Demand for crude could fall by 27 million barrels a day this month, according to Rystad Energy AS, while Trafigura Group estimates the current hit to consumption is around 35 million barrels a day.Against this backdrop, the Organization of Petroleum Exporting Countries and its allies, meeting via video conference on Thursday, agreed to cut production by 10 million barrels a day.The agreement, which dwarves previous interventions and has been sponsored by U.S. President Donald Trump, would end the price war between Riyadh and Moscow that helped pushed oil down to the lowest in almost two decades. The deal, however, is at risk of collapse after Mexico refused to sign up.Attention now turns to today's meeting of G-20 oil ministers, chaired by Saudi Arabia, where countries outside OPEC , including the U.S., are expected to make com

Wall Street Journal US BusinessApr 10, 2020
Industrialized Nations Attempt an Oil Market Solution
A virtual summit of Group of 20 energy ministers is tackling the question of how industrialized nations can help resolve an unprecedented oil glut partly triggered by the coronavirus pandemic, and producers are pinning their hopes on U.S. President Donald Trump.

Google Business NewsApr 10, 2020
Homemade face masks, coronavirus prevention, CDC: Everything you should know - CNET
Homemade face masks, coronavirus prevention, CDC: Everything you should know  CNETMelania Trump encourages face mask use with photo of herself  CNNHow to make your own face mask. No sewing required.  NJ.comWhere to buy cloth face masks sold out on Amazon: Etsy, REI - Business Insider  Business InsiderHow to make a mask at home  UNF Spinnaker

Reuters BusinessApr 10, 2020
Trump, Putin discuss coronavirus, global energy markets: White House
U.S. President Donald Trump spoke with Russian counterpart Vladimir Putin on Friday about the coronavirus and energy markets, the White House said.

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Trump, Putin, Saudi Crown Prince Scramble to Fix Oil Markets - The Wall Street Journal (Google Business News)

Yahoo BusinessApr 10, 2020
N.Y. Deaths Slow; Trump Aide Doubts May 1 Target: Virus Update
(Bloomberg) -- New York's daily virus deaths fell for the first time in three days and hospitalizations slowed. The U.S. Surgeon General cast doubt on the Trump administration's goal of a quick restart of the economy, saying most of the nation won't be ready by May 1.Spain reported the fewest deaths since March 24, and the pace of new cases slowed in Germany. Italy reported a downward trend in fatalities and infections, and may extend its lockdown into May, while U.K. Prime Minister Boris Johnson is able to walk around as part of his recovery.European Union finance ministers agreed on a $590 billion rescue package.Key DevelopmentsCoronavirus Tracker: Global Cases 1.62 Million; Deaths 97,200‘No Sail Order' for cruise ships extended; Boeing may cut jobsPotential coronavirus drugs may cost as little as $1, study saysFrance reports 4 deaths in hydroxychloroquine testsHong Kong's edge over Singapore shows early measures workAmerica worships from the parking lot, onlineWhite House weighs new panel to map post-virus recoveryCuomo Is Cautiously Optimistic (11:40 a.m. NY)New York State reported 777 deaths from the coronavirus in the past 24 hours, Governor Andrew Cuomo said at his daily press conference. The state reported 799 deaths the previous day.The governor said the deaths reflects those individuals who were admitted to a hospital when the state's rate peaked about two weeks ago."The leveling off of the number of lives lost is a somewhat hopeful sign," Cuomo said. Friday was the first day in three that New Yo

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What The $2 Trillion Coronavirus Aid, Relief, And Economic Security (CARES) Act Does For American Workers (Forbes Headlines)

Yahoo BusinessApr 10, 2020
Mexico Says It Made OPEC Oil-Output Cuts Deal With Trump
On CNBC's "Fast Money," Tim Seymour said Macy's Inc (NYSE: M) was priced as if it's going out of business, but he doesn't think that's going to happen. He added there are very real assets there.Karen Finerman said Macy's bond that comes due in 2023 has hardly bounced at all and it's trading at high teens yield. This is telling her there are real concerns about Macy's as an ongoing business. She finds it too risky and she would rather own Target Corporation (NYSE: TGT).Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Steve Grasso said there is a reason to take a chance on the cruise stocks, but the behavior has changed and there were issues even before the COVID-19. He thinks the bailouts are possible for these stocks. He would stay away from Carnival Corp (NYSE: CCL) and he would stick with Royal Caribbean Cruises Ltd (NYSE: RCL) and Norwegian Cruise Line Holdings Ltd (NYSE: NCLH).Guy Adami said there are glimmers of hope in some casino stocks. He would stay in Wynn Resorts, Limited (NASDAQ: WYNN) until it reaches $75.See more from Benzinga * RNC Genter Capital CEO Likes Tech, Health Care, Financials In Volatile Market(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Google Business NewsApr 10, 2020
Trump considers economic task force for pandemic recovery - CBS This Morning
Trump considers economic task force for pandemic recovery  CBS This Morning'Doesn't really sit very well': Acosta laments getting coronavirus test before briefing  Washington ExaminerWhat to know about the Coronavirus Task Force briefing: 4/9/20  POLITICOPence says Americans will begin to see checks at the end of next week  CBS NewsWatch live: Cor

Yahoo BusinessApr 10, 2020
Delta Cut to Junk by Fitch as 35,000 Workers Take Leave
(Bloomberg) -- Delta Air Lines Inc. was cut to junk at Fitch Ratings as part of a general downgrade of the U.S. airline industry and its ability to service debt. The assessment adds urgency to the Trump administration's desire to save the industry.Fitch on Friday lowered its rating on Delta's debt to "BB " from "BBB-" and warned that another downgrade is possible as air travel suffers with the spread of the coronavirus. The airline does, however, have more financial flexibility than some rivals, Fitch said in an assessment of the industry.Delta, Alaska Air Group Inc. and Southwest Airlines Co. are the "better-positioned U.S. carriers to weather the expected downturn," Fitch said.Other downgrades by Fitch on Friday include:Alaska Air downgraded to "BB " from "BBB-"American Airlines downgraded by one notch to "B"JetBlue Airways downgraded to "BB" from "BB "Southwest downgraded to "BBB " from "A-"United Airlines Holdings Inc. downgraded to "BB-" from "BB"President Donald Trump said on Friday that U.S. airlines must be saved. Responding to a tweet about the $50 billion bailout airlines are asking for, he said, "Not good...but it is what it is. Have to save the airlines!"Airline GrantsTrump's administration has announced as much as $32 billion in payroll grants for airlines, contractors and cargo carriers, controlled by Treasury Secretary Steven Mnuchin.Outside firms are advising Mnuchin on the terms he should set, including what he'll demand from the airlines in return, such as warrants for equity in the companies. Mnuchin has s
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