Bloomberg News
Second Virus Wave Threatens US Oil Demand Again
Vehicles drive in light traffic along Pacific Coast Highway in Santa Monica, Calif., on March 19. (Patrick T. Fallon/Bloomberg News)
After months of empty roads, lockdowns were easing, and people were getting behind the wheel again. Then the virus struck again.
June 29, 2020Chesapeake Pushed Into Bankruptcy by Plunging Energy Prices
Employees work on a Chesapeake Energy natural gas rig in Texas in November 2009. (Matt Nager/Bloomberg News)
Chesapeake Energy Corp., the archetype for America’s extraordinary shale-gas fortunes, filed for bankruptcy, becoming one of the biggest victims of a spectacular collapse in energy demand from the virus-induced global lockdown.
June 29, 2020Meat Shortages Reopen Costly Path to Small US Slaughterhouses
Angus bulls stand in pens prior to an auction in Wisconsin in April 2019. (Daniel Acker/Bloomberg News)
When coronavirus outbreaks forced shutdowns at America’s giant meat plants, it quickly created a bottleneck.
June 26, 2020China’s Virus-Safety Demand Is Latest Hurdle to Trade Deal
A crane loads a container onto a tractor-trailer truck at the Yangshan Deepwater Port in China on March 23. (Qilai Shen/Bloomberg News)
China wants international shippers of meat and soybeans to sign a document attesting their cargoes meet safety standards to ensure they aren’t contaminated with the novel coronavirus.
June 24, 2020China to Speed US Farm Purchases After Secretive Hawaii Talks
A truck hauls a load of corn between grain bins on a farm in Illinois during harvest. (Daniel Acker/Bloomberg News)
China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. following talks in Hawaii this week.
June 19, 2020Nikola’s Trevor Milton Has $7.4 Billion Fortune on Free Truck Orders
The Nikola Two hydrogen-powered Class 8 tractor. (Nikola)
The executive chairman of Nikola Corp. is under siege from skeptics of the company he started in 2014 with the goal of revolutionizing the trucking industry.
June 12, 2020OPEC+ Edges Closer to Compromise to Extend Deepest Ever Cuts
Oil workers position drilling pipes at an oilfield in Russia. (Andrey Rudakov/Bloomberg News)
OPEC and its allies edged closer to a consensus on extending production cuts to prop up the oil market, even as wrangling continued for a third day about whether to bring forward their next meeting.
June 2, 2020China Halts Some US Farm Imports, Threatening Trade Deal
Soybeans are seen in a semi trailer during harvest in this aerial photograph taken over Wyanet, Ill., in October 2019. (Bloomberg News)
Chinese government officials told major state-run agricultural companies to pause purchases of some American farm goods, including soybeans, as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong, according to people familiar with the situation.
June 1, 2020Trump Moves to Revoke Hong Kong Trade Status, Stoking China Rift
President Trump speaks in the Oval Office of the White House on May 28. (Evan Vucci/Associated Press)
President Donald Trump intensified his confrontation with China, vowing to punish the country for the coronavirus pandemic and taking steps to curb Hong Kong’s autonomy by ending the territory’s special trade status with the U.S. and denying visas to Chinese officials.
May 29, 2020Uber-Grubhub Deal Hinges on Breakup Fee, Sources Say
The logo for the Grubhub app shows on a laptop. (Gabby Jones/Bloomberg News)
Uber Technologies Inc. and Grubhub Inc. are haggling over a breakup fee after nearing an agreement on a merger price, according to people familiar with the matter.
May 29, 2020