Business & Finance News
U.S. stock index futures sank on Wednesday, as stark predictions of a rise in the U.S. death toll and worsening economic damage from the coronavirus pandemic led investors to ditch equities for safe-haven assets.
U.S and Russian energy officials held rare talks about oil after crude prices crashed to levels last seen about two decades ago, while President Donald Trump said oil that was cheaper “than water” was hurting the industry.
The German government stands ready to take over airline Condor after an agreement by Polish carrier LOT to acquire the carrier is likely to collapse, several people familiar with the matter told Reuters.
The world’s biggest maker of medical gloves is grappling with a serious shortage of workers as it tries to meet a huge surge in demand as countries such as the United States run out of personal protective gear due to the coronavirus outbreak.
Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending.
U.S. stock index futures sank on Wednesday following stark predictions of a rising U.S. death toll and economic damage from the coronavirus outbreak, a day after the S&P 500 ended its worst quarter since the 2008 financial crisis.
Factories fell quiet across most of Europe and Asia in March as the coronavirus pandemic paralyzed economic activity, with evidence mounting that the world is sliding into deep recession.
The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia.
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.
World markets fell on Wednesday as the coronavirus threat ensured an ugly start to the second quarter for equities and commodities.
Oil slid to $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply concerns.
Glencore’s chrome joint venture in South Africa with Merafe Resources has declared force majeure on qualifying contracts after a nationwide lockdown forced operations to shut, a Merafe executive said.
French supermarket retailer Carrefour and Uber Eats announced a new delivery service on Wednesday, aimed at helping Parisians buy essential goods and food during the nationwide lockdown triggered by the coronavirus crisis.
Driving to work at his factory to the west of London last week, designer Steve Brooks had coronavirus on his mind. What could he make that would let him open a door without touching the handle?
Global crude oil prices slid further on Wednesday, following their biggest-ever quarterly and monthly losses, as a bigger-than-expected rise in U.S. inventories and a widening rift within OPEC heightened oversupply fears.
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