Business

Oil prices edged slightly higher on Tuesday, but forecasts of a slower than expected recovery in global fuel demand due to the coronavirus pandemic weighed.

Undaunted by hefty writedowns on its Australian gas assets, Royal Dutch Shell sees its liquefied natural gas business and "new energy" acquisitions Down Under as core to its long term plans, the Australian unit's chairman said on Tuesday.

Oil prices slipped slightly on Monday amid concerns about a stalled global economic recovery and with Libya poised to resume production, and failed to get support from an impending storm which has disrupted U.S. output.

Airbus has stepped up warnings of compulsory layoffs as air travel fails to recover as quickly as expected from the coronavirus crisis, putting itself on a potential collision course with unions and the French government.

World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, OPEC said on Monday, potentially making it harder for the group and its allies to support the market.

HCL Tech was the star performer, soaring 10.08 per cent, after the company said its revenue and operating margin for the September quarter are expected to be "meaningfully better" than the top end of its previous forecast.

Market turmoil due to coronavirus lockdowns in March raises questions about whether central banks should offer access to liquidity more widely in future shocks, the Bank for International Settlements (BIS) said on Monday.

Global gasoline and diesel demand is expected to return to prepandemic levels by the end of next year, although a resurgence in COVID19 cases would keep consumption fluctuating, several senior industry executives said on Monday.

JPMorgan did not carry out key checks when employing the son of a potential client, a prosecutor told a Hong Kong court on Monday, the first day of a bribery trial of the bank's former Asia investment banking vicechairwoman, Catherine Leung.

Oil prices rose on Monday as a tropical storm in the Gulf of Mexico forced companies to evacuate rigs and halt production, but gains were kept in check by wider concerns about excess supply and falling fuel demand.

Microsoft says its bid to buy popular video-sharing app TikTok has been rejected, removing a leading suitor for the Chinese-owned app a week before President Donald Trump promises to follow through with a plan to ban it in the U.S.

Canada is signaling it might not compensate major telecommunications providers if the federal government bans equipment made by China's Huawei from 5G networks, setting up a potential fight over a bill that could hit C$1 billion ($758 million).

The government in order to boost coal demand, has announced a slew of measures like increased supply for linkage consumers.

China announced on Saturday a ban on the import of pork and pig products from Germany after the European country confirmed its first case of African swine fever in a wild boar last week.

The U.S. budget deficit hit an alltime high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday.

President Donald Trump's allies in Iowa launched a pressure campaign seeking his support for the ethanol industry in recent weeks, ultimately leading to his decision this week to gut a program granting waivers to oil refineries from biofuel requirements,...