Marathon cuts capital spending by $1.4bn in anticipation of 30% drop in output

World’s biggest gold miner reaps rewards of pandemic price effect and Goldcorp acquisition

President’s pet project holds line on output growth despite oil crisis and mammoth losses

French energy group makes emissions pledge as first-quarter profits drop 35%

IEA expects global consumption will decline 8% this year in largest drop since second world war

Dive into negative prices triggered pullback that helps set scene for rebound

Railroad commissioner had called for using decades-old state rules to reduce output

Glencore-backed First Cobalt to open Canada refinery this year in attempt to cut reliance on China

Price crash provokes supply cuts but ‘all bets are off’ if second wave of pandemic hits

Turmoil in commodity market slashes state colleges’ revenues

Regional trading blocs would better align mutual interests and provide stability

Latest proposal accused of being misleading over environmental risk

Price wars and coronavirus have disrupted the sector, possibly moving peak demand even closer 

ExxonMobil and Chevron deploy plans for cutbacks but preserve dividends

Citigroup was biggest lender but Deutsche, Barclays and SocGen are also on the hook

Companies are seeking to tap whatever sources of affordable funding are available

With no productive use of liquidity, money is going into market speculation driving recovery in asset prices

Two- and five-year yields hit record lows as futures investors anticipate negative rates

Coveted top-quality rating hanging by a thread as Moody’s decision looms

Details of historic borrowing plans send government bond yields higher

Sobering up after the crisis will require changes to tax laws, bonuses and pensions

JPMorgan data show about one in four loans was behind on payments last month

Horseman Capital’s Russell Clark has sold his holdings in government bonds

Company pledges two ships and two islands as collateral in upsized refinancing plan

Bundesbank told to halt participation unless central bank shows policy is ‘proportionate’

Tag Heuer’s digital chief sees connected watches as a point of entry to the mechanical models

Discovery in Zenith factory attic helps watchmaker claim the first all-black wristwatch title

German regulator looks at group’s statements ahead of KPMG special audit report

If Berlin agrees a €9bn bailout for the airline, it is likely to want a 25 per cent stake and board seats

O2 and Virgin Media’s £31bn merger is one of the biggest examples of virtual dealmaking during pandemic

Insurer is well placed to manage pandemic-related losses

Airline forecasts capacity will be almost wiped out in the second quarter

Online retailer’s partnerships with fashion brands should support growth and lift margins

ECB intends to resist court injunction to justify its sovereign bond purchases

Combination of O2 and Virgin Media set to transform British telecoms market

Pexip deal marks bright spot in otherwise bleak European IPO market

Commission warns pandemic will wipe out growth in all member states and result in an uneven recovery

European Commission seeks to strengthen enforcement powers after banking scandals

Deka Investment urges chairman to act quickly to end crisis of confidence in payments group after special audit

Strategists expect concerns about eurozone stability to dent the currency

Jean Pierre Mustier’s nascent turnround derailed as bank slips to first-quarter loss

Union Investment says new outside executives are needed to move the company on after special audit

Player values tumble as Europe’s top teams prepare to cut spending after pandemic weakens revenues

Private equity firms in separate discussions to back coronavirus-hit Serie A

Alternative providers fear it will harm competition in market for loans to small business

The ECB’s asset purchases are vital to the stability of the eurozone

Stay neutral in the battle between French banks and economic adversity

Activist investor sought to take control of strategy at French group led by Arnaud Lagardère

Gideon Rachman talks to Joseph Nye about the role of morality in shaping foreign policy

An inquiry into the origins of Covid-19 is needed if important lessons are to be learnt