Saudi Aramco on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, as it posted a 21% decline in 2019 net profit due to a drop in oil prices and production, its first earnings announcement as a listed company.
Oil giant Saudi Aramco on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to "rationalize" capital spending in the wake of the coronavirus outbreak.
Israel plans to use anti-terrorism tracking technology and a partial shutdown of its economy to minimise the risk of coronavirus transmission, Prime Minister Benjamin Netanyahu said on Saturday.
Stock markets and the dollar were roiled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to break a logjam in global lending markets.
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American Airlines Inc said Saturday it plans to cut 75% of its international flights through May 6 and ground nearly all its widebody fleet, as airlines respond to the global collapse in travel demand due to the coronavirus pandemic.
United Airlines Holdings booked $1.5 billion less revenue in March than the same time last year and warned employees that planes could be flying nearly empty into the summer, even after drastic flight capacity cuts.
Coindesk | William Foxley | March 13, 2020 So many people were trying to use the Ethereum blockchain during Thursday’s market meltdown that many applications simply stopped working as intended. The decentralized finance (DeFi) sector was hit particularly hard. The decentralized services that feed price information into these headless lending platforms – known as “oracles” in the
Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers.
The U.S. Federal Reserve unleashed new emergency measures on Sunday night to limit the economic harm from the coronavirus, including making it easier for banks to get money and slashing its benchmark borrowing rate to near zero.
Stocks were slammed on Monday and the dollar battered after emergency rate cuts in the United States and New Zealand, and a raft of steps by policymakers worldwide failed to stem the rout in markets spooked by the broadening fallout of the coronavirus.
More major retailers said on Sunday they would shut stores in the United States to limit the spread of the coronavirus, including Nike, Under Armour, and Lululemon Athletica, a day after similar moves by several other U.S. retailers.
Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine.
Volkswagen is preparing to suspend operations at its manufacturing plant in Bratislava, the company said on Sunday, after Slovakia declared a state of emergency due to the coronavirus outbreak.
The Financial Times reported Bridgewater's flagship fund is down about 20% for the year following the swift plummet from all-time highs into a bear market from stocks.