Plummeting electricity demand and falling power prices during the coronavirus outbreak could leave EDF in need of a capital injection by the end of 2020 to avoid a spiralling debt crisis, a source close to the French firm and analysts said.
Brent crude oil sank below $16 a barrel to its lowest since 1999 on Wednesday, before recovering slightly on the prospect of extra pledges to cut output in addition to a pact by major producers to limit supplies.
AT&T Inc pulled its financial forecast for the year on Wednesday as the impact of the coronavirus pandemic clouded its view for the foreseeable future.
Whether or not OPEC+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisis may force them to cut more.
The head of the U.S. securities regulator on Wednesday warned investors against putting money into Chinese companies as they rebalance their portfolios following market turmoil due to ongoing problems with those companies' disclosures.
State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to pass Congress this week.
Delta Air Lines Inc has taken steps to halve its cash burn to $50 million per day through June after posting its first quarterly loss in eight years, and is bracing for a two to three year recovery from the coronavirus pandemic."We should be prepared for a choppy, sluggish recovery even after the virus is contained," Chief Executive Ed Bastian said in an employee memo on Wednesday.
Oilfield firm Baker Hughes Co on Wednesday reported a $10 billion first-quarter loss and revenue fell more than expected as an 80% plunge in oil prices crushed demand for services and equipment.
Saudi Arabia is looking into re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the Kingdom, shipping and trade sources say.
Years of private funding flowing into young and growing space companies has ground to a halt during the coronavirus pandemic.
The euro zone economy is already in its deepest recession on record, according to a Reuters poll of economists, who have stuck to a bleak outlook and worry the downturn might be even worse as coronavirus lockdowns across the bloc take their toll.
Brent crude oil rose on Wednesday after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis.
It may take European Union countries until the summer or even longer to agree on how exactly to finance an economic recovery from the coronavirus pandemic as major disagreements persist, an official with the bloc said on Wednesday.
Facebook will spend $5.7 billion to take just under 10% of Reliance Industries' digital unit, seeking to roll out services for India's grocers and other small businesses by capitalising upon WhatsApp's already extensive reach within the country.
Delta Air Lines Inc reported on Wednesday its first first-quarter loss in nine years and forecast a 90% decline in second-quarter revenue as the coronavirus crisis devastates air travel demand.