OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.
Global equity markets tumbled and the dollar slid on Thursday as the coronavirus spread quickly outside China, leading Britain to prepare for a significant increase in cases and France to say it appeared "inevitable" the outbreak would become an epidemic in the country.
U.S. stocks tumbled on Thursday, with shares of banks and travel companies taking a beating, as a new wave of fear about the spread of the coronavirus and its economic impact gripped investors just one day after election results powered a rally.
U.S. financial companies are doubling down on travel restrictions to include domestic trips, replacing meetings with video calls, and webcasting events as the coronavirus outbreak starts to alter business-as-usual across the sector.
Apparel retailer Gap Inc on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck.
AT&T Inc has partnered with Alphabet Inc's Google Cloud to use 5G edge computing technologies to help clients improve speed and increase security by running applications closer to end users.
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Airbus is battling to shore up support for its A330neo wide-body passenger jet as the coronavirus crisis, geopolitics and trade wars raise fresh questions over demand for the aircraft, industry sources said.
Two years into an ambitious growth plan to revive earnings at the largest U.S. oil company, Exxon Mobil Corp said on Thursday it would stick to its plans to "lean in" to spending even as its shares have lagged those of competitors, which are cutting costs.
Kazakhstan's Energy Minister Nurlan Nogayev said on Thursday that OPEC and non-OPEC oil exporters have not yet reached consensus on the parameters of an extension on their oil output deal, the TASS news agency reported.
Diversified manufacturer 3M Co has avoided major supply chain disruptions from the coronavirus outbreak by sourcing materials for its protective face masks from regional suppliers instead of far-flung locations, a company official told Reuters.
Oil prices edged lower on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, but losses were limited as major producers agreed on deeper output cuts to bolster prices.
Bank of Canada Governor Stephen Poloz looks ready to end his term where he began, setting interest rates near historic lows to support the broader economy at the risk of stoking higher prices in a housing market that is heating up.
Portugal's flag carrier TAP cancelled a total of around 1,000 flights this month and next due to a fall in demand over concerns about the spreading coronavirus, the company said on Thursday, also envisaging an unspecified impact on revenues.
U.S. supermarket chain Kroger Co topped fourth-quarter profit and sales estimates on Thursday, boosted by strong demand for its high-margin private-label brands, sending its shares up as much as 7.2%.