Business & Finance News
At a face mask factory just outside the South Korean capital of Seoul, workers are churning out 300,000 masks a day – and it’s still not enough.
Business districts around the world began to empty and stock markets tumbled on Friday as the number of coronavirus infections neared 100,000 and the economic damage wrought by the outbreak intensified.
An Australian family is rolling in a much-coveted commodity after mistakenly ordering 48 boxes instead of 48 rolls of toilet paper online.
Traders of futures contracts tied to the Federal Reserve’s policy rate were betting Friday on another, even bigger reduction to borrowing costs at the U.S. central bank’s mid-March meeting.
Greece has confirmed 14 new cases of coronavirus infection, health authorities said on Friday, bringing the total in the country to 45.
(This March 5 story corrects Reuters instrument code for 10-year U.S. Treasury in paragraph 14 to “US10YT=RR”, from “US10YR=RR”)
Nissan is pushing on with plans to build its new Qashqai sports utility vehicle at its British factory despite warnings over Brexit, announcing on Friday a 52-million pound investment in a new press line at the site.
Oil prices slid more than 4% on Friday to their lowest since July 2017 after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices.
Tesla Inc has secured Chinese government approval to sell longer-range China-made model 3 vehicles in China, the Ministry of Industry and Information Technology said on Friday.
Russia will not back an OPEC call for extra oil output cuts and will only agree to extending existing curbs, a Russian source said on Friday, threatening to derail a call by OPEC ministers for deeper reductions to cope with the coronavirus outbreak.
Oil prices slid more than 3% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices in the face of a slump in oil demand because of the global coronavirus outbreak.
Iran’s oil minister expects a “very difficult” meeting in Vienna on Friday between OPEC and oil exporting countries that are not part of the group, including Russia, the Iranian energy news service Shana cited him as saying.
State Bank of India , the country’s largest lender, is exploring a wide range of rescue options for struggling Yes Bank Ltd including a complete buyout of its private-sector rival, two sources familiar with the matter said.
A Russian high-level source told Reuters on Friday that Moscow would not back an OPEC call for extra reductions in oil output and would only agree to extending existing OPEC+ cuts.
Indian automaker Tata Motors has warned of lower profit at its British luxury car brand Jaguar Land Rover (JLR) for the fiscal year as sales in China have taken a hit because of the coronavirus outbreak.
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