Markets

American Airlines intends to apply for up to US$12 billion government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday.

Activist investor Starboard Value has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it purchased them.

BEIJING: Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure as foreign demand slumps. The Purchasing Managers' Index (PMI) ...

A bipartisan group of 19 U.S. senators urged the Trump administration to push back the planned June 1 start date for the new U.S.-Mexico-Canada trade pact, saying the short lead time would add to pressures on U.S. companies due to the spread of the coronavirus.

The U.S. Air Force announced on Monday an additional deficiency in the KC-46 Pegasus aerial fuel system built by Boeing , classifying it at the Category I level, meaning it is a major technical issue that may endanger the aircrew and aircraft.

Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilizing energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand.

Asian share markets managed a tentative rally on Tuesday after European and U.S. equities stabilized, though buying for month and quarter-end book balancing likely flattered the gains.

Samsung Electronics Co Ltd said on Tuesday that one of its chip factory workers in South Korea had tested positive for coronavirus, but its output has not been affected.

Activist investor Starboard Value LP has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it purchased them.

Major global airlines projected layoffs, furloughs and capacity cuts over the next few months, with Air New Zealand warning that it expected staffing levels to be 30per cent smaller than it is now, due to the coronavirus pandemic.