Markets

SYDNEY: Virgin Australia Holdings said on Tuesday (Apr 20) it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis, making it the largest airline to collapse under the shock of the coronavirus ...

The U.S. Treasury Department said on Monday it has disbursed US$2.9 billion in initial payroll assistance to 54 smaller passenger carrier and two major passenger airlines, while it finalized grant agreements with six major airlines.

Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, people familiar with the matter said on Monday.

SYDNEY: Virgin Australia Holdings Ltd said on Tuesday (Apr 20) it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load. Deloitte has been appointed as the administrator, the ...

Virgin Australia Holdings Ltd said on Tuesday it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load.

Brazil's government is discussing with the country's main airlines further reducing a minimal flight schedule implemented due to the coronavirus crisis as travel demand remains close to zero, three sources told Reuters.

The U.S. energy industry has asked the Federal Reserve to change the terms of a US$600 billion lending facility so that oil and gas companies can use the funds to repay their ballooning debts, according to a letter seen by Reuters.

U.S. crude oil jumped over US$20 per barrel on Tuesday but still traded below US$0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.

NEW YORK: The price for May delivery of West Texas Intermediate, the US benchmark oil, plunged well into negative territory on Monday (Apr 20), an unprecedented crash prompted by the imminent expiration of this month's futures contract. Yet the price of a barrel of the same grade of oil...

COVID-19 has triggered a perfect storm of panic, disruption, and widespread technological upheaval that constitutes the perfect breeding ground for cyberattacks, says Dathena’s Christopher Muffat.