Saudi Arabia said on Wednesday it plans to boost oil production capacity for the first time in more than a decade, a day after it announced a record high hike in crude supply in a battle for market share that has hammered global prices this week.
German sportswear makers Adidas and Puma warned on Wednesday of a major decline in sales in China due to the coronavirus and said while there were early signs of improvement there the impact had spread to other markets.
Uber Technologies Inc notified riders and drivers that it may temporarily suspend the accounts of anyone who has tested positive for the coronavirus or have been exposed to it, the ride-hailing company said on Wednesday.
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day.
The Bank of England governor Mark Carney and his successor, Andrew Bailey, spoke at a press conference after the central bank unexpectedly cut interest rates by half a percentage point to 0.25% on Wednesday.
Delta Air Lines Inc said on Wednesday it was extending the suspension of all flights between the United States and China from April 30 to May 31 due to the coronavirus outbreak.
A worker at Equinor's Martin Linge offshore oil and gas development has been diagnosed with the coronavirus and is being held in isolation, the Norwegian energy firm said on Wednesday.
Uber Technologies Inc is considering temporarily suspending the accounts of riders and drivers who have tested positive for the coronavirus or have been exposed to it, CNN reported on Wednesday.
Saudi Arabia has asked state agencies to submit proposals for cuts of at least 20% to their budgets in a fresh austerity drive to cope with a sharp drop in oil prices, four sources familiar with the matter said.
Asian shares and Wall Street futures fell on Wednesday, as growing scepticism about Washington's stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.
Boeing Co is freezing new hiring and overtime except in certain critical areas in efforts to preserve cash due to the coronavirus outbreaks and the 737 MAX grounding, people familiar the matter said on Wednesday.
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak. Several have grounded many flights and ditched their financial outlooks.
As U.S. President Donald Trump touted the signing of a U.S.-China trade deal in January, he told cash-strapped farmers they would soon need bigger tractors and "a little more land" to meet additional Chinese demand for U.S. agricultural goods.
The mayor of Omaha, Nebraska said on Wednesday that Warren Buffett would prefer to wait until one month before Berkshire Hathaway Inc's annual shareholder weekend to decide whether to change its plans because of the coronavirus outbreak.
Wall Street stocks plunged on Wednesday, with the Dow confirming a bear market for the first time since the financial crisis after the World Health Organization called the coronavirus outbreak a pandemic.