Bloomberg Chipotle Mexican Grill Inc is well positioned to ride out the Covid-19 storm that’s ravaging the US restaurant industry, according to its chief financial officer. “We can get through for many months or even a year at these kind of depressed sales levels,” CFO Jack Hartung said in an interview, declining to provide sales figures. He said the disease …

Bloomberg Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes. Crude futures in New York were little changed on Wednesday, following a record decline in the first quarter. While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is …

Bloomberg India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended on Tuesday, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has already outlined a virus relief package of $22.5 …

Bloomberg Factories around the world suffered one of their grimmest months on record in March, as the coronavirus led to mass shutdowns and wreaked havoc on supply chains. Figures from Asia and Europe showed measures of manufacturing activity dropped sharply, with some at their lowest since the financial crisis more than a decade ago. In Italy, an index of output …

Bloomberg Singapore home prices fell the most in more than three years in the first quarter as the coronavirus outbreak slammed the economy. Property values declined 1.2% in the three months ended on March 31, according to a preliminary estimate from the Urban Redevelopment Authority released on Wednesday. That’s the steepest decline since a 1.5% drop in the third quarter …

Bloomberg As the coronavirus pandemic roils the global liquefied natural gas market, suppliers are finding that the centre of demand has come full circle back to where it was first hit: China. Over the past two weeks, Chinese buyers have become some of the most active in the Asian market. That signals a turnaround from February, when the country’s top …

Bloomberg State-run Coal India is considering cutting output at some mines, aligning it with a steep drop in demand from power generators amid a countrywide lockdown, according to people with knowledge of the development. The Kolkata-based miner will focus on clearing inventories and reducing production at thermal coal mines that have high stockpiles, said the people, who asked not to …

Bloomberg The latest victim of the global slump in energy prices is an old Swedish nuclear reactor that will stay offline until at least the end of summer. Electricity prices in the Nordic market were plunging even before the coronavirus began to cripple economies and hurt demand worldwide. That’s because of the build-up of a huge surplus of future supply …

Bloomberg With jets grounded and cars parked, diesel fuel for trucking is giving some relief to refiners as the coronavirus spread cuts deep into demand. The diesel revenue is sorely needed for the refining industry which has seen plants shut from South Africa to Canada and widepsread production cutbacks due to the pandemic-driven collapse in demand. In Houston, wholesale diesel …

Bloomberg Bankrupt coal miner Murray Energy Corp could be forced to liquidate unless a federal judge lets it cut healthcare payments to retirees, according to court papers. Murray Energy, the largest private coal miner in the US, is asking the judge overseeing its Chapter 11 bankruptcy to let it shed certain health-care obligations in a bid to stave off a …