Business & Finance News
Japanese automakers on Wednesday said they would temporarily close more vehicle plants in Europe and Asia as the spread of the coronavirus prompts countries to instruct non-essential businesses to suspend operations.
The impact of the current turmoil related to the coronavirus is more likely to affect Deutsche Bank later this year rather than in the first quarter, an executive said on Wednesday.
Middle East airline Qatar Airways laid off about 200 Filipino staff in Doha this week and rival Emirates asked pilots to take unpaid leave as the coronavirus outbreak hammers demand for travel.
Goldman Sachs has instructed most of its staff in the Americas, Europe, Middle East and Africa to work from home from Wednesday until further notice, according to an internal notice seen by Reuters.
The oil products markets globally are caught between a rock and a hard place as the impact of ultra cheap oil, which should be a boon for refiners, is mitigated by record low prices for gasoline and jet fuel.
Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Russia to ramp up output.
Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand.
Germany’s HDE retail association called on Wednesday for the government to give immediate state aid and tax relief to stop businesses going bust as stores closed to stem the spread of the coronavirus, losing 7 billion euros ($7.70 billion) per week.
U.S. stock index futures tumbled on Wednesday, pointing to another volatile session for Wall Street on fears that even dramatic stimulus measures would not be able to avert a deep coronavirus-driven recession.
Swiss bank UBS has seen relatively low losses in its lending portfolio and feels comfortable with its liquidity despite market drops amidst the coronavirus pandemic, Chief Financial Officer Kirt Gardner said on Wednesday.
Middle East airline Qatar Airways laid off about 200 Filipino staff in Doha this week and rival Emirates asked pilots to take unpaid leave as the coronavirus outbreak hammers demand for travel.
Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R]
Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as the outlook for fuel demand darkened with travel and social lockdowns triggered by the coronavirus epidemic.
Barclays is ‘very very unlikely’ to meet its goal of a 10% return on equity this year given the impact on its business of the coronavirus pandemic, its Chief Financial Officer Tushar Morzaria said on Tuesday.
Oil prices fell for a third session on Wednesday to be down about 17% so far this week as the outlook for fuel demand darkened amid travel and social lockdowns triggered by the coronavirus epidemic.
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