OPEC and its allies led by Russia meet on Saturday over plans to extend record oil production cuts and to push countries such as Iraq and Nigeria to comply better with existing curbs. Nigeria's oil minister said he expected a deal on an extension, which has the backing of Saudi Arabia and Russia, to be concluded in the video conference talks despite "reservations of one or two member countries," which he did not name. The alliance known as OPEC+ previously agreed to cut supply by a record 9...

As the post-lockdown era prompts more people to work from home, LinkedIn’s principal economist told Yahoo Finance that a lot of people “want to be in the office.”

(Bloomberg) -- On the surface, it’s the old OPEC strategy of production cuts. When the cartel and its allies meet on Saturday, they are set to extend their output curbs for an extra month into July in an effort to consolidate the price recovery.But a closer look shows subtle changes that point to Saudi Arabia, Russia and their OPEC+ allies adopting a more sophisticated approach: trying to flip the shape of the oil price curve upside down. In many respects, the cartel is borrowing from the pla...

(Bloomberg) -- The Federal Reserve is about to launch a $600 billion gambit to save swaths of U.S. businesses and tens of millions of jobs threatened by the coronavirus crisis. Wall Street is far from confident the Fed can pull it off.At issue is the Main Street Lending Program, a high-stakes juggling act whose success likely hinges on multiple factors: Companies lining up for loans that come with punitive strings attached. Banks lending to risky businesses at rock-bottom interest rates -- me...

The big risk with the latest jobs report is if it turns out to be a “head fake” says Mohamed El-Erian, chief economic advisor at Allianz. “That’s the nightmare scenario,” El-Erian told Yahoo Finance after the US unexpectedly added 2.5 million jobs last month states started re-opening their economies and easing COVID-19 shelter in place measures. “The big risk is...that this is a head fake, a major head fake that we are picking up the impact of both data distortions and policy distortions,” ...

Fueled by increased demand for its notebooks from the current stay-at-home environment, tech giant Dell’s (DELL) Q1 earnings topped expectations, while video conferencing software like (ZM) and Cisco’s (CSCO) WebEx have also seen a dramatic increase due to the COVID-19 pandemic. However, principal analyst of Futurum Research Daniel Newman joined Yahoo Finance to discuss what’s next for Dell and other tech companies as the nation starts to return to work following the pandemic. 

The company's shares closed down 3.61% at $14.40 after the Wall Street Journal reported earlier that the U.S. Securities and Exchange Commission would investigate the deal. Trump told reporters the concept of the arrangement was good because it would help Kodak branch out into a new business area, but he was not personally involved in the deal. The SEC investigation is at an early stage and may not produce allegations of wrongdoing by Kodak or any individuals, the WSJ said, citing people fa...

Only 36 FTSE 100 companies cut pay despite most turning to government’s furlough schemeJust 36 out of the UK’s 100 biggest companies reduced their chief executive’s pay in order to help their firm navigate the coronavirus pandemic and economic crisis, according to an analysis of executive pay that found FTSE-100 CEOs are now handed, on average, the same as nearly 120 full-time workers..Research by the Chartered Institute of Personnel and Development (CIPD) and the High Pay Centre published on...

(Bloomberg) -- Tencent Holdings Ltd. is driving discussions to merge China’s biggest game-streaming platforms Huya Inc. and DouYu International Holdings Ltd., people familiar with the matter said, in a deal that would allow it to dominate the $3.4 billion arena.The Chinese social media titan -- which owns a 37% stake in Huya and 38% of DouYu -- has been discussing such a merger with the duo over the past few months, although details have yet to be finalized, said the people, who asked not to ...

(Bloomberg) -- Oil was steady near $41 a barrel in New York after the longest run of gains in six weeks on signs U.S. crude stockpiles extended declines.The American Petroleum Institute reported crude inventories dropped by 8.59 million barrels last week, with gasoline stockpiles resuming draws, according to people familiar with the figures. Meanwhile, futures rose 1.7% on Tuesday after a massive blast at Lebanon’s main port rocked Beirut, raising concerns about fresh instability in the Middl...