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Bloomberg Oil has wavered on growing doubts over demand prospects with more potential lockdown measures on the way to combat the virus. The market was earlier buoyed by the dollar’s biggest slide in almost four weeks, which made commodities priced in greenback more attractive, as well as a bounceback in equities. Futures in London as much as 1.2% before paring …

Bloomberg Devon Energy Corp agreed to acquire WPX Energy Inc in a $2.56 billion all-stock deal, creating one of the largest independent US shale producers and answering investor calls for consolidation at a time of crisis for the sector. Devon shareholders will own about 57 percent of the combined company, Devon and WPX said on Monday in a statement. The …

Bloomberg The top US aviation regulator plans to test-fly Boeing Co’s grounded 737 Max in an attempt to show an antsy public that proposed fixes will be safe, according to a notification sent to Congress. Federal Aviation Administration (FAA) chief Steve Dickson, who is licensed to fly the 737 along with several other jetliners from his time as a pilot …

Bloomberg Delta Air Lines Inc warned it would take a pretax accounting charge of $2 billion to $2.5 billion after deciding to remove three aircraft types from its fleet amid an unprecedented collapse in air travel. The noncash impairment will be recorded in third-quarter results, which are due next month, Delta said in a regulatory filing. The company will retire …

Bloomberg American Airlines Group Inc closed a $5.48 billion loan with the US Treasury, increasing its pool of cash to help fund operations until travel demand begins to return. The credit facility, backed by American’s loyalty program, increased from an original $4.75 billion target after rivals such as Delta Air Lines Inc and Southwest Airlines opted out of the funds …

Bloomberg Poshmark Inc, an online resale marketplace for second-hand clothing, said it has filed confidentially for an initial public offering. The number of shares and the price range for the IPO haven’t been determined, Poshmark said in a statement. The Redwood City, California-based company had put off a potential IPO to focus on boosting sales and improving its execution, people …

Bloomberg Neiman Marcus has officially come out of bankruptcy, a process that left the upscale department store with a lighter debt load and new owners to confront the same industry trends that led to its financial woes. The new Neiman Marcus Holding Company Inc emerged from Chapter 11 bankruptcy protection, saying it had eliminated more than $4 billion of existing …

Bloomberg Hawaiian Airlines will offer customers drive-through coronavirus testing in California to help island-bound travellers avoid a 14-day quarantine rule —its answer to rival United Airlines’ new on-the-spot airport screenings. The competing testing plans would satisfy Hawaii’s requirement for visitors to show a negative test result within 72 hours of arrival in order to avoid its self-isolation rule, which has …

Bloomberg The bank at the center of Europe’s worst ever money laundering scandal has yet to fully address the corporate culture issues that led it astray in the first place. That’s according to the watchdog that oversees Danske Bank. Denmark’s biggest bank spent years locked in a top-down hierarchy that left its management cut off from people further down the …

Bloomberg The Reserve Bank of India rescheduled this week’s interest-rate meeting over the possible lack of a quorum in the Monetary Policy Committee (MPC). “The dates of the MPC’s meeting will be announced shortly,” the RBI said in a statement on Monday, without giving reasons for the delay. The meeting was scheduled to begin on Tuesday, with the rate decision …