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EasyJet founder Stelios Haji-Ioannou continued his battle to force the British airline to cancel an order for 107 Airbus planes, making a new demand on Wednesday for a shareholder vote and threatening to sue its directors.

Sumitomo Corp warned on Wednesday that it may miss its net profit estimate by around 100 billion yen ($919 million) due to the coronavirus crisis and falling oil prices. The company said will maintain its annual dividend forecast of 80 yen per share.

Metal traders are betting China will soon reduce the value-added tax (VAT) on its manufacturing sector for the third year in a row, placing trades that will see them cash in if a cut is confirmed, three traders said this week.

Malaysian sovereign wealth fund Khazanah Nasional Bhd, the sole owner of Malaysia Airlines, is sceptical about a $2.5 billion proposal by privately held Golden Skies Ventures (GSV) to acquire the national carrier, the New Straits Times daily reported.

China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.

Treasury Wine Estates Ltd will consider spinning off its Penfolds wine business into a separate listed company and look at ways to downsize its commercial wine business, particularly in the United States, it said on Wednesday.

Alaska's North Slope Borough government has moved to seize the assets of RavnAir Group after it declared bankruptcy due to the coronavirus, aiming to protect its region's air service but also setting up a potential legal battle with the airline's lender.

Levi Strauss & Co said on Tuesday a majority of its stores in China, where the coronavirus outbreak first emerged in December, were open with sales recovering on a weekly basis and digital sales rising last month.

Treasury Wine Estates Ltd will consider de-merging its Penfolds wine business into a separate listed company and look at ways to down-size its commercial wine business, especially in the United States, it said on Wednesday.

South Africa's wine industry will be allowed to export its products again after the government bowed to heavy lobbying and agreed to relax lockdown rules imposed to curb the spread of coronavirus.

The Trump administration on Tuesday was preparing to ask Congress for an additional round of emergency loans to help small businesses hobbled by the coronavirus pandemic, and Senate Majority Leader Mitch McConnell said he hoped for approval this week.

South African budget airliner Fastjet Plc said on Tuesday it has enough resources to cover its operational needs until June-end, as it announced job cuts and a reduction in salaries in an effort to survive the COVID-19 pandemic.

Ethiopian Airlines Chief Executive Officer Tewolde Gebremariam said on Tuesday the airline lost $550 million from January to April because of the coronavirus outbreak.

The U.S. Transportation Department on Tuesday issued final rules setting minimum service requirements for passenger airlines receiving government financial assistance.

Brazilian airline Gol Linhas Aereas Inteligentes has the flexibility to reduce its fleet from 130 Boeing 737 planes to 100 by letting leases expire in the short term, executives said on Tuesday while discussing the impact of the coronavirus outbreak.

Global airlines warned that 25 million jobs across the world could be at risk from the coronavirus travel downturn and the industry's representative body said airline finances were so fragile they could not afford to refund customers.

Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.

U.S. Treasury Secretary Steven Mnuchin said on Tuesday that over 3,000 lenders were participating in a new $349 billion small-business coronavirus loan program, and that the Federal Reserve and Treasury were working to set up facilities to support "Main Street" and municipal borrowers.

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

Global airlines cannot afford to refund cancelled flights because of the coronavirus crisis, said the head of the industry's representative body IATA, and carriers are issuing vouchers instead as they conserve cash to survive.