Bloomberg News
Oil Market Buckles Under Pressure of Pandemic’s Second Wave
Gas flares from pipes burn aboard an offshore platform in the Persian Gulf's Salmon Oil Field. (Ali Mohammadi/Bloomberg News)
Six months after the coronavirus pandemic’s initial punch, signs of a second wave are already emerging in the oil market.
September 9, 2020Airlines Are Removing Seats to Make Space for Cargo
A Sri Lankan Airlines worker in June gives final touches to an Airbus A330 passenger plane the company converted into a cargo carrier. (Ishara S. Kodikara/AFP via Getty Images)
Cargo, one of the least glamorous aspects of flying, is proving a rare ray of light for airlines amid the coronavirus gloom.
September 3, 2020GM to Double Down on China After Tesla Grabs EV Lead
GM outlined its technology rollout plan for electrification, intelligent driving and connectivity in China on Aug. 19. (Gilles Sabrie/Bloomberg News)
General Motors Co. is accelerating its push into the fast-growing electric-car segment in China, the world’s largest market, seeking to challenge sales leader Tesla Inc. and a slew of local contenders.
August 19, 2020Labor Abuse Allegations Tie Up Ships in Australia Ports
Shipping containers sit at the Port Botany terminal in Sydney, Australia, on June 3. (Brendon Thorne/Bloomberg News)
Australian authorities detained at least two cargo ships for alleged labor violations related to demands from seafarers to be sent home, some of whom have spent more than a year at sea.
August 12, 2020Mnuchin Says Trump to Take Executive Action as Stimulus Talks Stall
Treasury Secretary Steven Mnuchin, center left, and White House Chief of Staff Mark Meadows, center right, leave negotiations with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer on Aug. 6. (Samuel Corum/Getty Images)
Treasury Secretary Steven Mnuchin said he’ll recommend President Donald Trump move ahead with executive action on unemployment aid, evictions and student loans after another round of negotiations with Democrats on a virus relief plan ended without any agreement.
August 7, 2020White House, Democrats Locked in Standoff as Deal Deadline Looms
Treasury Secretary Steven Mnuchin, far right, and White House Chief of Staff Mark Meadows, second from right, are struggling to make progress in relief negotiations. (Cheriss May/Bloomberg News)
The White House and congressional Democrats are locked in a standoff over the size and breadth of a new virus relief package, with their self-imposed Aug. 7 deadline for a deal looming.
August 6, 2020Meadows Says Democrats Rebuff White House on Stopgap Jobless Aid
Nancy Pelosi has reportedly rebuffed White House proposals for short-term stopgap measures for virus relief. (Samuel Corum/Getty Images via Bloomberg News)
White House Chief of Staff Mark Meadows said Democrats rebuffed multiple proposals from the Trump administration to extend lapsing supplemental unemployment benefits and have continued to raise the ante in talks on a stimulus package to bolster a U.S. economy hobbled by the coronavirus pandemic.
July 31, 2020Tech Leads Stock Rebound From Lows Amid Earnings
Jerome Powell, Federal Reserve chairman, testifies during a House Financial Services Committee hearing in Washington on June 30. (Tasos Katopodis/Bloomberg News)
Stocks pared losses as a rally in big technology companies tempered concern over a slow economic rebound. After the close of regular trading, Apple Inc., Amazon .com Inc., Alphabet Inc. and Facebook Inc. jumped as results crushed Wall Street estimates.
July 30, 2020Gasoline’s Demand Rebound Fades at Height of US Driving Season
Luke Sharrett/Bloomberg News
A sharp rebound in gasoline consumption that helped to drive oil prices higher appears to be running out of steam, a development that should be a cause for concern across the petroleum industry.
July 28, 2020FAA Warns 737s Sitting in Storage Are Corroding During the Pandemic
An employee works on a Boeing 737 Max 9 plane at the company's facility in Renton, Wash. (David Ryder/Bloomberg News)
Boeing Co. 737 planes in storage because of the coronavirus pandemic are at risk of losing power in both engines when they fly again and must be inspected, aviation regulators said.
July 24, 2020