U.S. President Donald Trump has invited oil executives to the White House to discuss potential ways to help the industry hammered by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia, three sources familiar with the matter said on Wednesday.
Volkswagen AG said on Wednesday it is extending a production halt at its Chattanooga, Tennessee, assembly plant until April 12 because of the coronavirus pandemic.
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors Co moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online.
With the euro zone economy in need of help from the coronavirus pandemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it.
EU industry chief Thierry Breton on Wednesday said he did not see any ulterior motive behind Huawei's donations of face masks to the bloc and that solidarity was the best way to tackle the global coronavirus outbreak.
The dollar advanced on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
Oil prices fell on Wednesday after data showed U.S. crude inventories rose last week by the most since 2016 while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic.
Boston Federal Reserve Bank President Eric Rosengren said social distancing efforts meant to contain the coronavirus outbreak have "stilled" the economy and could lead the unemployment rate to "rise dramatically."
Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are expected to bite into record U.S. output.
Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address "challenging" oil markets while U.S. President Donald Trump complained that oil cheaper "than water" was hurting the industry.
Asian shares and Wall Street futures fell on Wednesday in the first trading session of the quarter as the coronavirus pandemic and the prospect of a global recession tore through investor confidence.
KKR & Co has shelved a plan to sell Singapore-based Goodpack, which provides shipping containers and logistics services, after the coronavirus outbreak hit valuations, sources with knowledge of the matter said on Wednesday.
As the coronavirus outbreak forced classes online, Boston Public Schools ordered 20,000 laptops and had them in hand in four days - an unusually fast turnaround made possible by a build-up of inventory prompted by the U.S.-China trade war.
The dollar gained broadly against riskier currencies on Wednesday, with markets staring at what is likely to be one of the worst economic contractions for decades as the world locks down to fight the coronavirus pandemic.
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.